This is despite the government, the LGA, most conservative councils and just about everybody involved in housing condemning the practice. "Land Banking" is the practice of buying land, getting planning permission to build houses, then not building the houses, just sitting back and watching the price rise. It can be done by a speculator, or by a large housebuilding company. Typically the company gets permission to build, say, 200 houses, but only builds 20 straight away, it could take 10 years (or more) to complete the site, meaning that people who buy the houses have to spend years living on a building site, with dirty roads, congestion and noise.The additional effect is that it reduces "available land" in the local plan and allows developers, aided by government inspectors to get planning permission on sites not zoned for housing, such as Green Belt Sites.
It seems the only people who think "Land Banking" a good idea are speculators and the people they collaborate with such as Bankers and Lawyers, and now of course the Kirklees Conservatives.
