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

Scotland increases new housing by 15 per cent

Development Loans News:- Scotland built 22,273 new homes in the last financial year - the sixth consecutive increase and the highest figure in a decade. Private-led new builds increased by 2,679 homes, 21 percent, while local authority ones declined by 51 homes, 3 percent. Although, housing association new builds rose by 1,041 homes, 33 percent. https://www.youtube.com/watch?v=gZkYeRN7z9k Refurbishments decreased by 642 homes, 67 percent, and net conversions decreased by 74 homes, 10 percent. Housing minister, Kevin Stewart, said this was the [...]

By |2021-11-13T10:54:37+00:00September 25, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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Construction costs set to increase steeply over the next five years

Construction Costs News:-Building costs are forecast to rise by 20 percent over the next five years, according to calculations by the Royal Institution of Chartered Surveyors', RICS, consultant panel. The is set against a backdrop of increased new work output activity of 21 percent from 2019 to 2023 claims RICS' business construction information service, BCIS. https://www.youtube.com/watch?v=C1-k6Ika-0Q&t=1s BCIS predicts a 3 percent rise over each of the first two years, then a 4 percent rise in the third year followed by [...]

By |2021-11-13T10:54:45+00:00September 24, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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1,757 Homes To Be Built in Greenwich

Knight Dragon has ditched plans for a film studio on Greenwich Peninsula in favour of building an extra 1,757 homes of which 54 percent are to be affordable. The developers have applied for outline permission for the new homes to be built on 150 acres of land bounded by Hendon Street, Neal Street, West Parkside and John Harrison Way. They will be a mix of studio, one-bed, two-bed and three-bed homes. https://www.youtube.com/watch?v=C1-k6Ika-0Q&t=1s They've also submitted a detailed application to build [...]

By |2021-11-13T10:54:52+00:00September 23, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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Glasgow ripe for further strong house price rise

Property Development  News:- Scotland's second city is catching up on the country's capital when it comes to future house prices, according to property agent Savills. The company reported a 3.9 per cent annual price growth for the second quarter of this year and a 9 per cent increase in buyers registering. But said supply was under pressure with 5 percent fewer properties available to buy compared with 2018. https://www.youtube.com/watch?v=BqZlmQWersU&t=12s Scottish residential research director, Faisal Choudhry, said: "We believe there is [...]

By |2023-02-23T12:20:13+00:00September 19, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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House price growth at its slowest in nearly seven years

Bridging Finance News:-UK house prices grew by under 1 per cent in the year to July 2019 - their slowest rate since September 2012, according to the latest HM Land Registry figures. The average UK house price now stands at £232,710, an increase of 0.7 percent compared with July 2018 and an increase of 0.5 percent on the previous month. https://www.youtube.com/watch?v=WpnLZeEwEJA Wales showed the strongest house price growth of 4.2 percent with the average house priced at £165,303. Scotland also [...]

By |2021-11-13T10:55:23+00:00September 18, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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House prices show surprise September dip

Houses coming onto the market this month are dropping in price by an average of £730, according to the UK's largest property website, Rightmove.co.uk. The 0.2 percent fall is the first drop for this time of the year since 2010 and the number of sales agreed has dropped to 5.5 percent in contrast to a 6.1 percent rise in sales a month ago. https://www.youtube.com/watch?v=C1-k6Ika-0Q&t=7s Rightmove said the number of properties coming on to the market was down by 7.8 percent [...]

By |2021-11-13T10:55:30+00:00September 16, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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Nearly £2m pledged to combat rogue developments on the green belt

Commercial Loans News:-Housing minister, Esther McVey, has earmarked nearly £2m for local authorities to crack down on illegal developments on green belt land. The funds will enable councils to use technology, hire enforcement officers and help meet the legal costs of bringing rogue developers to book. https://www.youtube.com/watch?v=C1-k6Ika-0Q&t=7s Speaking at the RESI conference in Newport, Ms McVey said the money would be given to areas with the highest proportion of green belt land. "Once the green belt is built on it's [...]

By |2024-06-27T03:05:51+00:00September 13, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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First-time buyer interest still in positive territory

Bridging Finance News:- New buyer enquiries for August showed a slight rise following a couple of months' modest increases, according to the latest RICS' residential market survey. The Royal Institution of Chartered Surveyors', RICS, questionnaire of members working in residential sales and lettings showed a net balance of plus 3 percent for first-time buyer interest in August. Newly agreed sales, however, inched slightly further into negative territory of minus 8 percent compared with minus 6 percent previously. RICS chief economist [...]

By |2021-11-13T10:50:37+00:00September 12, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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London backs trade union construction charter

Development Loans News:-The Mayor of London, Sadiq Khan, has said all major developments under council control should comply with Unite's construction charter. The charter outlaws poor construction practices as well as protecting workers' employment rights and complying with health and safety standards. https://www.youtube.com/watch?v=C1-k6Ika-0Q&t=7s Deputy mayor for housing and residential development, James Murray, said: "The charter means workers and residents can be confident that projects we are involved with will follow best practice on conditions and pay for construction workers, and [...]

By |2021-11-13T10:50:46+00:00September 11, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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New building orders in the doldrums for Q2

Bridging Finance News:-New construction orders fell by 13.3 percent in the second quarter of 2019, according to Office for National Statistics' data. This reversed the first quarter's 10.4 percent increase and the ONS said this was driven by a 17 percent decline in all other work apart from infrastructure. All sectors apart from infrastructure experienced a decrease in comparison with the first quarter of 2019. https://www.youtube.com/watch?v=C1-k6Ika-0Q&t=7s The decline in new work was due to a fall in public other work [...]

By |2021-11-13T10:50:54+00:00September 10, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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Development partner search is on for key north London site

Property Funding News:- The hunt is on for a development partner to mastermind the building of at least 700 homes at St Ann's hospital site in Haringey. The Mayor of London, Sadiq Khan, has bought two-thirds of the land, 7.1 acres, at the hospital to build up to 800 new homes of which 60 percent must be affordable. The receipts from the sale have allowed the hospital trust to invest in building new facilities for patients. https://www.youtube.com/watch?v=lYJjPXGYWvo Deputy mayor for housing [...]

By |2021-11-13T10:51:02+00:00September 9, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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Reverse VAT changes postponed for a year

Commercial Finance News:- The building industry has won a one-year reprieve from reverse charge VAT, the taxman has announced. Her Majesty's Revenue and Customs, HMRC, has deferred the changes until October 2020 following intense lobbying by the construction sector. https://www.youtube.com/watch?v=C1-k6Ika-0Q&t=1s Last month a coalition of trade bodies wrote to the chancellor, Sajid Javid, asking for a six-month delay to the introduction which was supposed to happen this month. They warned contractors' cash flow would be badly affected if customers paid [...]

By |2021-11-13T10:51:11+00:00September 9, 2019|Projects, Blog, Finance News, Planning News|0 Comments
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