Supporting Scotland s Growth Housing: Location as a Barrier to Housing Delivery in the Central Belt?

Transcription

1 Housing: Location as a Barrier to Housing Delivery in the Central Belt? June 2015

2 Executive Summary Housing delivery across the Edinburgh and Glasgow city-region is critical to future; these areas make up 60% of total population and almost two thirds of future population and economic growth is projected to occur here. This report provides a high level analysis of the alignment between locational areas of demand and the supply (allocation) of housing sites across the Strategic Development Plan (SDP) areas of Edinburgh and Glasgow cityregions. Recent net completions have been significantly below projections of future need and housing requirements identified in the SDPs remain lower than pre-recession levels. A sufficient supply of deliverable and developable land is required to support increased delivery in line with the requirements identified in SDPs. Nathaniel Lichfield & Partners (NLP) has produced a Market Strength Index (MSI) a composite index of housing demand and market strength which, brought together with future housing supply (allocations), highlights problems ahead for implementation of current Plans. The MSI shows around 42% of housing capacity on proposed allocations across the Edinburgh and Glasgow city-regions are in the strongest market areas with greatest prospects of delivery. However, 37% of allocations are located within weak market areas, which present higher levels of risk for the private sector and militate against their development. Local variations within SDP areas highlight acute local challenges in the future for implementation of housing allocations. Proposals for housing, particularly within the first five years of a plan period, need to be focused on the right sites in the right places, with a sharp and realistic eye on deliverability, as part of a trajectory-based approach. Proposals with less certainty over deliverability such as those in regeneration areas or with challenging infrastructure hurdles will often be appropriate longer term allocations, but should not be relied upon to achieve outputs they cannot realistically deliver. This document forms part of a wider suite of research reports being developed by NLP which explore a range of topical Scottish planning issues. ii

3 The Research in Figures 60% 64% of total population live in the Edinburgh and Glasgow city-regions of population and job growth is projected to occur in the Edinburgh and Glasgow city-regions 153,000 new homes are projected to be required across the Edinburgh and Glasgow city-regions by 2025 (2012-based household projections) 11,805 annual shortfall of housing delivery against SDP requirement 130,190 48% dwelling capacity of current housing allocations across the Edinburgh and Glasgow city-regions capacity of allocations in the weakest market areas across the Clydeplan (Glasgow city-region) area 28% capacity of allocations in the weakest market areas across the SESplan (Edinburgh city-region) area iii

4 Introduction This is the second instalment in our series. In the previous report, we provided an overview of the Economic Benefits of Increasing Housing Delivery to the Scottish economy. In this report, we continue to offer strategic analysis of the Scottish house building industry specifically focusing on delivery across the Edinburgh and Glasgow city-regions. House building in Scotland - and across much of the UK - declined significantly during the recession. There are signs of delivery rates recovering, but a substantial gap remains between the supply of new homes and the level of housing needed to sustain a prosperous economic future for Scotland. At present, house building in Scotland remains around 60% of the rate at the peak of the market (in 2007/08). During the recession, building rates slumped due to the restricted availability of credit for both developers and house buyers - builders couldn t build and buyers couldn t buy. Even now, it is more difficult to secure finance to deliver and purchase new homes than it used to be. Recent research suggests that aspiring home-owners anticipate that they will be 33 years old before they buy their first home. 1 The Scottish Government has recognised the need to stimulate the market, particularly in respect of the growing affordability crisis, and it has a commitment to deliver 30,000 new affordable homes by the end of the Parliament. Help to Buy has helped to support increased housing delivery rates and has been extended to include smaller building companies. However, already for 2015, monies are reported to be running out. Is planning part of the problem? Strategic Development Plans (SDP) and Local Development Plans (LDP) have set relatively high housing requirement figures, but are not delivering on them. If the new normal for housing delivery is one of market constraint, is the planning system allocating the wrong land in the wrong places? This research carried out in-house by Nathaniel Lichfield & Partners (NLP) tests the hypothesis that current planning allocations for residential development will not necessarily guarantee the delivery of housing of the scale required to meet the identified need. It explores the notion that allocating land for housing is more than just a numbers game and that delivery will happen more readily in areas where people want to live than in locations where the quality of place does not live up to the expectations of potential buyers. Do SDPs and LDPs need to focus more on deliverability and viability challenges? Do they recognise that timescales for achieving development vary across different areas? Do they accept that quality as well as quantity is important when allocating housing land? 1

5 Focusing on the Edinburgh and Glasgow City-Regions This research explores these issues as they apply across the Edinburgh and Glasgow city-regions. Delivery of housing here is critical to future. The Edinburgh and Glasgow city-regions make up almost 60% of the total population in Scotland. Their population is projected to grow by 300,000 people by 2037, an increase of 9.5%. This growth corresponds to almost 64% of the total population growth projected across Scotland over the same period; a pattern reflected in future household projections. Edinburgh and Glasgow are key drivers of the Scottish economy. The economy of the Edinburgh and Glasgow city-region currently supports 1.4 million 2 jobs, some 60% of the nation s total. Current economic forecasts estimate jobs growth of 95,000 3 by 2025, some 64% of total job growth across Scotland. If this growth potential is to be delivered, a boost to housing delivery must be part of the equation. Research Approach NLP has reviewed current rates of housing delivery across the Edinburgh and Glasgow city-regions against household projections and the housing requirements proposed in SDPs. We have then applied a range of socio-economic and market datasets to create a market strength index (MSI) for the Edinburgh and Glasgow city-regions which is used to categorise every postal code sector geography. Finally we have overlaid this analysis with the current housing allocations in adopted LDPs to see whether Plans are proposing developments in locations with the greatest prospect of market delivery. Figure 1: Geographic context of research Edinburgh Glasgow 2

6 The Supply of New Homes Historic rates of housing delivery in Scotland have been analysed by NLP. The data shows that net residential completions have averaged 12,800 per annum over the past five years - significantly below both projections of future housing need (20,300 per annum) and current housing requirement figures in Strategic Development Plans (22,510 per annum). Recent gross and net completions data suggests that delivery rates have bottomed out and are beginning to stabilise (Fig 2). Indeed, it can be seen that a modest uplift in activity was observed in 2013/14, with net completions 4 increasing from 10,890 in 2012/13 to 13,230. Completions Figure 2: Net and Gross Housing Completions 1996/7 to 2013/14 30,000 25,000 20,000 15,000 10,000 5, Housing Delivery in the Central Belt The table below compares rates of housing delivery against two measures of the demand for homes for the areas covered by the Glasgow and Clyde Valley SDP (Clydeplan) and the South East Scotland SDP (SESplan): Gross Completions Net Completions Source: Scottish Government Table 1: Shortfall of Supply against Requirements 1. SDP requirements (planning-led scenario); and 2. Projected household growth (demographic-led scenario). The scale of under-delivery for the SESplan and Clydeplan SDP areas is clear, particularly when considered in the context of the SDP target figures. This is of particular concern given the emphasis being placed on the Edinburgh and Glasgow city regions to deliver growth for Scotland. Whilst a range of factors may be contributing to underdelivery, there is a need to ensure a sufficient supply of deliverable and developable land to support increased rates of house building. There is also the issue of backlog, particularly in the years since the recession, when completions have fallen significantly short of identified targets. Clydeplan (2008/ ) SESplan ( ) 1. SDP Requirement (p.a)* * Includes generous allowance 2. Projected Household (p.a) Delivery Rates (p.a) 10,795 4,890 2,575 7,170 5,300 3,585 Source: SDP/General Register of Scotland Projection Data Shortfall (p.a) 5,905-8,220 1,870-3,585 3

7 Are Homes Being Planned in the Right Places? Housing market performance differs by area, driven by local variations across a variety of factors. In a postrecession environment, the spatial alignment of housing demand (including locational preference) and supply is critical to maximise prospects of future delivery. Quite simply, if housing land is allocated in locations where buyers won t buy and builders won t build, it will not be taken up and homes will not be provided. To understand the link between demand and where future supply is most wanted, it is useful to look at the three parties, shown below. The Lender Mortgage lenders create value through selling mortgage finance. As with all loans, they are subject to an element of risk that needs to be factored into the equation. The three elements of this risk are: i. The borrower - their deposit, credit rating, income and other commitments; ii. The property - its value and the market within which it is located (e.g. city centre flat or suburban detached house); and The Buyer In order to purchase a house, a number of factors normally need to be in place: i. The formation of a household; ii. An aspiration to own the property - influenced by factors including the type of property and its location; and iii. An ability to pay for the purchase - usually through a combination of deposit and mortgage. iii. The location - the market conditions and prospects of the specific location of the property. The Builder House builders create value through the building and selling of property. They need to pay the carrying costs for business loans and create profit for their shareholders. They can only build in locations where they generate sufficient value through sales/rental income. 4

8 A Market Strength Index The manifestations of decisions made by each of these three parties impacts on housing delivery rates differently in each location. To gauge what this means in terms of the housing allocations across the Edinburgh and Glasgow city-regions, a number of indicators can be identified which can help assess housing demand and essentially housing market strength in different locations. A Market Strength Index (MSI) Four indicators of housing demand have been collated to provide the basis for NLP s Market Strength Index (MSI). This has been applied across the Edinburgh and Glasgow city-regions. The MSI has been generated through analysis of the relative performance of different areas against the following: Volume of house sales/transactions - the change in the volume of transactions is a measure of demand and ability of residents to execute this demand to purchase a property (including through mortgage finance), with a particular focus on how market has rebounded from the recession; Change in house prices - an area experiencing higher rates of growth in house prices can be seen to experience a stronger market; Average house prices - an indicator of current market strength; and Mosaic typologies - using Experian s consumer classification system to categorise households on the basis of income, age and lifestyle choices. 5

9 Volume of House Sales (2007/ /14) The whole of the Scottish housing market suffered through the recession, and the number of sales remains below the pre-recession peak. The majority of areas have seen sales at a level that remain between 15% and 30% lower in 2013/14 than they were in 2007/08. However, the pattern is not uniform (Figure 3). Some areas demonstrated a greater degree of resilience, in particular Edinburgh, East Lothian and East Renfrewshire. Figure 3: % Change in House Sales 2007/08 to 2013/14 Source: Registers of Scotland/NLP Analysis 6

10 House Price Change ( ) Analysis of house price change over the same period (2007/08 to 2013/14) similarly highlights a mixed picture of performance (Figure 4). High house price increases can be found across Inverclyde, East Renfrewshire, Midlothian and East Lothian and parts of North Lanarkshire, Renfrewshire, West Lothian and Edinburgh. The Borders, South Lanarkshire and Glasgow (City) have all experienced a significant decline in average house prices, together with parts of Fife and West/East Dunbartonshire. Figure 4: % Average house price % change 2007/08 to 2013/14 Source: Registers of Scotland/NLP Analysis Source: Registers of Scotland/NLP Analysis 7

11 Current House Prices ( ) Table 2: Local Authorities with highest average house price The housing market today is improving, with house prices in Scotland averaging 163,563 (5), an increase of 4% in The strongest market areas are set out in Table 2. This shows that prices in these areas are between 28% and 40% higher than the Scottish average and between 20% and 32% higher than the UK average ( 178,500). East Renfrewshire Average house price 2014 % Change 2013 to 2014 % Difference to Scottish average % Difference to UK Average 228, % 40.0% 32.0% Average House Prices ( ) Average house price data, which provides an indicator of current market strength, has been analysed. This highlights stronger markets across Edinburgh, East Lothian, East Renfrewshire and parts of East Dunbartonshire (Figure 5). Edinburgh 226, % 38.5% 30.6% East Dunbartonshire 217, % 32.8% 25.1% East Lothian 210, % 28.5% 21.1% Source: General Registers of Scotland Figure 5: Average House Price ( ) Source: Registers of Scotland 8

12 Mosaic Typologies Mosaic utilises a range of datasets to classify households according to demographic characteristics, lifestyles and behaviour. The classifications are helpful to understand the dominant characteristics of households in a local area. Figure 6 provides a summary of the most dominant Mosaic group in each postal sector. Analysis of Mosaic data by postal sector highlights: Concentrations of households with more challenging socio-economic profiles concentrated in the central M8 corridor between Edinburgh and Glasgow and around the Clyde corridor; Concentrations of more affluent and professional households found to the south of Glasgow City in Renfrewshire and central/south Edinburgh; and The majority of the Scottish Borders and East Lothian are characterised by more rural, country living household typologies - higher earning families in predominantly owner-occupied properties. Figure 6: Mosaic Household Classifications Source: Experian Mosaic Classifications 9

13 Housing Market Strength Index The four indicators of market demand have been brought together into a composite analysis which places each postal sector into one of five market strength bands, which can be broadly defined by the characteristics set out in Table 3. Table 3: Market Strength Characteristics Market Strength Characteristics Strongest Markets Weakest Markets Strong market Weak market High earning households Mosaic Classifications - City Prosperity, Prestige Positions, Country Living Families and high earning city living households Average house price 270k Increase in number of sales 07/08-13/14 Positive increases in house prices Mix of families and single households Mosaic Classifications - Rural Reality, Domestic Success, Rental Hubs Average house price 175k Decline in number of sales 07/08-13/14 Small decline in average prices Mosaic Classifications - Rental Hubs, Modest Traditions Household incomes lower than 30k Average house price 140k 25% average decline in number of sales 07/08-13/14 Small decline in average prices Household incomes lower than 30k Mosaic Classifications - Modest Traditions, Vintage Value, Rental Hubs Average house price 110k Significant decline in number of sales 07/08-13/14 10% decline in house prices Modest household incomes, less than 15k Mosaic Classifications - Municipal Challenge Average house price 76k 50% decline in sales 25% decline in house prices Source: NLP Analysis 10

14 The strongest markets - in the top two bands - are likely to have the greatest prospects for bringing forward sites for new housing as the market will have confidence that demand levels and values justify the costs and risks associated with development. Areas in the two weakest bands are likely to represent higher levels of risk for private-sector led development - areas where values remain low, sales levels have fallen and the socio-economic profile of residents means they are they less likely to be in a position to purchase new homes. The outputs of the MSI are illustrated in Figure 7. Areas coloured green have the strongest markets; areas in red have the weakest markets. To explore what this means for housing delivery, it is important to look at how sites proposed for new housing are distributed, relative to these levels of market strength. Figure 7: Market Demand Composite Matrix Source: NLP Analysis 11

15 Future Housing Supply NLP has analysed all (adopted/emerging) Local Development Plan (LDP) documents across the Edinburgh and Glasgow city-regions to identify future housing allocations and, where identified, the number of homes these sites are estimated to deliver (the site yield). This has been mapped to illustrate the geographic picture of future housing supply across the centralbelt of Scotland, shown in Figure 8. This is timely as a number are currently being reviewed, including the Clydeplan and SESplan. Overall, future supply totals some 130,192 dwellings. It is concentrated along the Clyde Corridor, M8 corridor and in Edinburgh and the Lothians. The analysis also highlights that larger allocations are found predominantly in the east of Scotland, with future housing supply in the west dominated by sites with less than 200 units. The future supply of 130,192 dwellings compares to an overall housing requirement of c. 270,000 identified within the SESplan and Clydeplan ( ). This equates to a housing pipeline of only ten years - even based on past delivery rather than future requirements - highlighting an issue of shortage in the future housing supply across the Edinburgh and Glasgow city-regions. Figure 8: Future Housing Allocations - location and yield Source: LDP/NLP Analysis 12

16 Housing Demand and Supply Balance Housing allocations are only an effective means of delivering new homes if there is a realistic prospect of them being implemented. In this regard, with a housing market that is driven by private sector investment, it is clearly important that housing supply is aligned with areas of market demand, to support future housing delivery. In order to assess how well aligned future housing supply is with areas of market strength across the central belt of Scotland, the housing allocations have been overlaid with the results of the MSI analysis. The results are illustrated in Figure 9. This is particularly the case for the first five years of the plan, at a time when housing market recovery postrecession is still underway. Over a longer period, change can be achieved and investment can gradually unlock new areas of demand, particularly in tandem with placeshaping interventions from Government. Figure 9: MSI and Housing Allocations Source: NLP Analysis 13

17 Of the dwelling capacity of housing allocations across the two SDP city-region areas, around 58% (equivalent to 75,995) is in the SESplan area, with the remainder (54,197) across the Clydeplan. The distribution of this capacity across the five MSI bands is shown in Figure 10 below. What the analysis highlights is that across the two SDP areas, around 42% (55,267 units) of housing capacity on proposed allocations is in the top two MSI bands areas with the strongest local housing markets. This suggests a reasonable degree of confidence can be attached to its delivery (subject to site specific considerations such as access, land ownership etc). However, around 37% (47,883 units) of housing allocation capacity is in the bottom two bands (among the weakest local housing markets), suggesting significant risks can be attached to its deliverability. The picture is different across the two SDP areas. In the Clydeplan, almost half (48% / 26,069 units) of housing allocation capacity is in the bottom two MSI bands, with 26% in the very weakest local markets. In the SESplan area, 29% is in the two bottom MSI bands, with just 1% in the very weakest market area. Almost half of housing capacity on allocations is in the two strongest MSI bands in the SESplan area, compared to just 35% in the Clydeplan area. Looking at each of the individual SDP areas in more detail reveals further variation. Figure 11 shows the distribution within the Clydeplan area, whilst Figure 12 shows the same analysis for SESplan area. It highlights significant challenges for delivery of housing allocations in some local authorities. Figure 10: Yield capacity by market demand for total area of study 54,197 75,995 9,213 15,729 9,731 20,594 9,184 11,791 17,908 Market Strength: 5 (strongest) Market Strength: 4 Market Strength: 3 14,278 21, Market Strength: 2 Market Strength: 1 (WEAKEST) Clyde Plan Source: NLP Analysis SESplan 14

18 Figure 11: Capacity of Housing Allocations by market demand - Clydeplan 100% 4,721 5, ,327 Proportion of total allocations 16,113 4,220 2,523 15,044 90% 80% 3,116 4,414 70% % 50% 3,420 Market Strength: 5 (strongest) 40% 30% 20% 10% 2,850 8,900 5,788 Market Strength: 4 Market Strength: 3 Market Strength: 2 0% Market Strength: 1 (WEAKEST) Inverclyde West Dunbartonshire Renfrewshire East Renfrewshire Glasgow East Dunbartonshire North Lankershire South Lankershire *Broader band highlights a greater proportion of the total allocation Source: NLP Analysis Within the Clydeplan area, the analysis highlights a significant amount of housing capacity (30%) within Glasgow s housing allocations, and that over two thirds of this is in the two weakest MSI bands - similar proportions are found in Inverclyde, West Dunbartonshire and Renfrewshire (albeit in local authority areas that are much smaller). In South Lanarkshire - the other large source of housing allocations in the SDP area - 40% is in the weaker market areas. Only in East Renfrewshire and East Dunbartonshire is there a majority of allocations in the strongest market locations. 15

19 Figure 12: Yield capacity by market demand - SESplan Proportion of total allocations 100% 12,113 34,682 4, ,954 8,274 90% 6,405 80% 70% 5,721 5,600 7,898 60% 50% 10,514 Market Strength: 5 (strongest) 40% 30% 20% 10% 3,847 12,163 5,040 3,016 4,798 Market Strength: 4 Market Strength: 3 Market Strength: 2 0% West Lothian Edinburgh Midlothian Scottish Borders East Lothian Fife Market Strength: 1 (WEAKEST) *Broader band highlights a greater proportion of the total allocation Source: NLP Analysis In the SESplan area, there is clearly a significant role for Edinburgh to deliver housing (with 46% of total allocation capacity), and although it has no allocations in the very weakest MSI band, it nevertheless has over a third (35%) of its capacity in the second weakest market areas a similar proportion to West Lothian. Fife has 63% of its housing allocation capacity in the weakest market areas. East Lothian, on the other hand, has an overwhelming majority (81%) of its housing capacity in the strongest market areas, and no sites in weak market locations Of course, in predominantly urban locations with tightly drawn administrative boundaries, such as Glasgow, there may be limitations on the ability of individual LDPs to locate development in the strongest market areas to deliver their housing targets. However, looking across the SDP areas, if the intention is to maximise the prospects of delivering housing allocations, one might expect strategies to target proportionately more development in local authority areas where there is greater prospect of allocating sites in stronger market locations, thus aiding delivery. 16

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21 Conclusions This report provides a high level analysis of the alignment between locational areas of demand and the supply (allocation) of housing sites across the SDP areas of Edinburgh and Glasgow city regions. This allows us to start to understand whether homes are being planned for in the right places and why delivery of new homes has fallen short of identified targets. In simple terms, the Edinburgh and Glasgow city-regions are failing to deliver the rate of housing that is required. Unlike in other parts of the UK, this is not due to a failure to prepare Plans or to allocate land. The analysis in this report suggests one reason may be that the wrong land is being allocated in the wrong places: in the aftermath of a housing market recession, with housing transactions and values still below their 2007/8 peak, the allocation of sites in poorer market areas is likely to undermine delivery. Across the Edinburgh and Glasgow city-regions, our analysis found that well over a third (37%) of homes planned in housing allocations are in the weaker housing market areas - casting significant doubts over deliverability. In the Glasgow and Clyde Valley SDP area, this proportion is almost half (48%), and for Glasgow, Inverclyde, West Dunbartonshire and Renfrewshire, it is two thirds. Whilst policy interventions, and investment from Government in place-making and subsidy for development, may, over time, unlock the potential of these poorest market areas (and in turn, support delivery of regeneration), it must be recognised that this means longer lead-in times and potentially slower build out rates. In the interests of delivering more homes in the shorter term, it is of concern that just 42% of housing capacity on housing allocations is in the stronger market locations that will support delivery. It should also be recognised that even in the strongest market areas, some sites will not come forward as quickly as plan-makers would like, due to site-specific constraints. It is clear from the analysis there are a number of implications for local authorities and developers when considering how future housing delivery can meet the housing requirements set out within the SDPs for the Edinburgh and Glasgow city-regions. For local authorities: The need to understand the market demand dynamics across their geographic area to maximise delivery, recognising the impact of market strength on housing delivery rates; The challenge of maintaining an effective five year deliverable housing land supply and supporting longer term aspirations for regeneration in weaker market areas; Recognising the positive impact of new development on the edges of areas of strong market demand to increase the geographic extent of market demand; and The importance of recognising the scale of development which will be needed to affect change in weaker areas. For developers: The opportunity to promote new housing sites located in areas of stronger market demand - particularly those not allocated within LDPs - where the stronger housing market gives confidence on deliverability, and their ability to help meet housing targets; Understanding the future housing needs of an area, local demand indicators and local market characteristics to inform the future housing mix of a development; and Making the strategic and business case for government support of housing development as part of regeneration schemes, given the reliance that is being placed on weaker sites to meet housing targets. Increased delivery rates would also realise the economic benefits which would be delivered by increased housing supply. These benefits are discussed in NLP s research report - Housing: The Economic Benefits of Increasing Delivery (May 2015). 18

22 Appendix 1 Market Demand: 1 (WEAKEST) Market Demand: 2 (light red) Market Demand: 3 (orange) Market Demand: 4 (light green) Market Demand: 5 (STRONGEST) Total Inverclyde 1,755 1, , ,721 West Dunbartonshire Renfrewshire East Renfrewshire Glasgow (City) East Dunbartonshire North Lanarkshire South Lanarkshire West Lothian Edinburgh (City) Midlothian Scottish Borders East Lothian Fife 2, , , , ,118 5,327 8,900 1,938 3, ,174 16, ,256 4, , ,788 3,420 4,414 1,180 15, ,847 1,758 5, , ,163 10,514 5,600 6,405 34, , , ,016 5,040 7,898 15, ,798 1,753 1, ,274 Total 14,723 33,110 27,092 30,325 24, ,192 Endnotes 1 Moneysupermarket research as reported by Property Wire in Experian Local Market Forecasts workforce jobs 3 Experian Local Market Forecasts Workforce jobs 2015 to Including conversions 5 Registers of Scotland House Price Information Annual Market Review

23 About NLP Nathaniel Lichfield & Partners (NLP) is an independent planning, economics and urban design consultancy, with eight offices across the UK. NLP is currently RTPI Planning Consultancy of the Year and Just Giving Company of the Year. We are one of the largest independent planning consultancies in the UK and we offer the broadest range of skills of any specialist planning firm. This includes services in economics, spatial analytics, heritage, sustainability, urban design, graphics and sunlight and daylight, as well as a full range of planning skills. Our clients include local authorities and government bodies, as well as developers, landowners and operators in the housing, retail, leisure, commercial, and infrastructure sectors. We prepare accessible and clear reports, underpinned by robust analysis and stakeholder engagement, and provide expert witness evidence to public inquiries and examinations. Our targeted research reports explore current planning / economic issues and seek to offer practical ways forward. Read More You can find out more information on NLP and download copies of this report at: How NLP can help UNLOCK Strategic & Residen al Land Promo on Promoting Strategic Land Assessing Housing Needs Evidencing Economic Benefits Assessing Economic Needs Contacts For more information, please contact us: Bristol Andy Cockett acockett@nlpplanning.com Cardiff Gareth Williams gwilliams@nlpplanning.com Edinburgh Nicola Woodward nwoodward@nlpplanning.com Leeds Justin Gartland jgartland@nlpplanning.com London Matthew Spry mspry@nlpplanning.com Manchester Michael Watts mwatts@nlpplanning.com Newcastle Michael Hepburn mhepburn@nlpplanning.com Thames Valley Dan Lampard dlampard@nlpplanning.com This publication has been written in general terms and cannot be relied on to cover specific situations. We recommend that you obtain professional advice before acting or refraining from acting on any of the contents of this publication. NLP accepts no duty of care or liability for any loss occasioned to any person acting or refraining from acting as a result of any material in this publication. Nathaniel Lichfield & Partners is the trading name of Nathaniel Lichfield & Partners Limited. Registered in England, no Registered office: 14 Regent s Wharf, All Saints Street, London N1 9RL 20 Nathaniel Lichfield & Partners Ltd All rights reserved.

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