Developers 'have no interest' in land speculation or hoarding planning permission

Traditionally apartment developments have been seen as more difficult to make commercially viable, given they cannot be built in phases as is the case with housing-only projects.

The body representing developers has rejected the suggestion its members have been engaged in land speculation or hoarding planning permission — insisting it is a practice they have “no interest” in.

Conor O’Connell, the Construction Industry Federation's (CIF) director of housing, said that for developers “land is a raw material” only.