A mixture of our Finance news articles from the property world. This includes new developments, auction dates and changes to the UK law.

House Sales Surge in September

Residential property transactions increased by more than 20 percent in September compared with August sales. However, September’s figures of 98,010 showed a 0.7 percent dip in the same month last year according to customs and revenue statistics. The chancellor Rishi Sunak attributed September’s positive results to his stamp duty holiday on properties up to £500,000 in value which was introduced in July. He was upbeat about the data claiming a rise in house moves would have a positive effect on [...]

London’s ‘green and pleasant’ multi-million-pound residences thrive

A room with a view, a front door onto the street, and a garden are proving more seductive for the wealthy than a James Bond-style bachelor pad in Chelsea. London’s high-end housing market is surprising estate agents who are reporting increased transactions for properties worth more than £5m. Estate agents Dexters marketing director Richard Page says: “Since the market re-opened we’ve had more than 9,000 viewing appointments across London per week and our website has never had so much traffic [...]

Housing sales can continue in Liverpool

Homes in Liverpool and future Covid-19 high alert areas can carry on being sold according to the latest government guidance. On ‘very high’ Covid-19 alert places, the government has said: “Estate and letting agents and removal firms can continue to work and people looking to move home can continue to undertake viewings.” Remote working tools are advised to avoid appointments at home. Wherever possible meetings should happen outdoors or in well-ventilated rooms, says the guidance. Sharing a pen or touching [...]

Smaller developments boosted by raised ‘affordable homes’ threshold

 Housebuilders have defended proposed planning changes allowing up to 40 to 50 homes to be built before an ‘affordable homes’ quota kicks in. Last week the Local Government Association criticised the government for the proposals, which it claimed would have resulted in 30,000 fewer homes being built over the last five years. But the National Federation of Builders, NFB, said raising the limit from the current ten homes threshold to 40 or 50 would allow more small developers to build [...]

Government cracks down on rabbit-hutch developers

Housing minister Robert Jenrick has acted to stop unscrupulous developers from turning offices into tiny flats with little or no natural light. The move follows criticism that permitted development rights, allowing offices to be converted into homes without planning permission, were creating slums of the future with flats as small as 9m². Mr. Jenrick said all new homes in England would have to meet nationally described space standards of at least of 37m² for a one-bedroom flat with a shower [...]

Help for first-time buyers in Scotland extended

Scots trying to get their foot on the property ladder north of the border will benefit from the country´s first home fund for another year, following a recent government decision. The first home fund helps people buy their first new or second-hand home offering up to £25,000 as an equity loan and is to be extended to March 31, 2022. Buyers must contribute a minimum of 5 per cent mortgage on the purchase price. Trade body Homes for Scotland, HfS, [...]

Delivery hub to supercharge net zero new homes

A multi-million-pound delivery hub of experts in design and energy conservation to help housebuilders meet green targets for new homes has been launched. The cross-sector future homes taskforce announced the news yesterday at a housing and environment summit which included housebuilders Barratts and Archway Homes. Barratt Developments chief executive, and taskforce member, David Thomas said: “We believe every business needs to take responsibility for tackling climate change and are proud to be working alongside other industry leaders to build for [...]

Scottish Builders Urge Sturgeon

Housebuilders north of the border are calling on the Scottish government to step up new builds to 25,000 a year and to include more private homes. Homes for Scotland, HfS, the country’s housebuilding trade body, is unhappy that the government’s current targets are predominantly for social rent. Chief executive Nicola Barclay wants the government to ask public agencies to work with developers to more than double the current annual targets of around 10,000 new homes a year. “A number of [...]

Pre-fabs Set to Scale

Traditionally looked down on as a cheap post-war housing solution, pre-fabs could account for up to a quarter of all new homes, according to a new policy paper. The report Build Homes, Build Jobs, Build Innovation proposes a fast-track investment to construct 75,000 modular homes off-site a year by 2030. The paper is co-authored by Mark Farmer, who was appointed government champion of modern methods of construction last year. “Modular manufacturing is the single biggest gamechanger when it comes to [...]

Red tape and tax cuts to revive coastal cities

Attracting developers post Brexit to invest in the country’s seaside towns and cities by offering one point of contact is behind the government’s new coastal agreement. The government has revised the coastal concordat of seven years ago to make consenting development easier and to promote sustainable growth. The National Federation of Builders housing and planning policy head Rico Wojtulewicz said: “Due to being hemmed in by greenbelt and the sea, coastal regions often have trouble growing in size and stimulating [...]

Restaurant owners appreciate landlord’s advice to ‘pay employees’ instead of rent

Connor Kus at Hank Zarihs – In times like this deciding to close or change the way you do business might not be the best choice in the long run, Clay Young wanted to make it a bit easier for his tenants.   His company has decided to put their money where their mouth is when it comes to helping tenants in this daunting time by “not expecting its restaurant tenants to pay April’s rent”   City Wok, Main street [...]

New homes should be built for all ages

Homes with fewer steps, wider corridors and easier access for wheelchairs are being suggested in a consultation paper released yesterday. The government estimates the number of people in England over 85 will nearly double to 3 million by mid-2043. Housing secretary Robert Jenrick said: “It’s vital we start building more accessible housing for older and disabled people now. People are living longer lives and the proportion of older people in the population is increasing.” Currently, all new homes must meet [...]