London-listed housebuilders boosted by Osborne's planning reforms

10th Jul 2015 09:12

UK housebuilders got a boost on Friday on news that Chancellor George Osborne is set to unveil planning reforms that will speed up housebuilding.Osborne is expected to announce changes that will give automatic planning permission on all brownfield sites so it will be easier for people to build extensions and fast-track infrastructure projects.Under the new rules, town halls that take too long to process applications will face fines and central government will have more power to intervene on planning rulings.In London, homeowners will no longer need planning permission for a roof extension if it's the same height as a neighbouring property.Persimmon rose 1.2%, Taylor Wimpey added 1.9% and Barratt Developments gained 2%.