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

New building projects fuel industry optimism

Featured on e-architect. New order volumes in November grew at its fastest rate in six years with housebuilding a star performer, according to the UK purchasing managers’ index. The survey pointed to the strongest degree of business optimism across construction since January. Chartered Institute of Procurement and Supply group director Duncan Brock, said: "The sector is moving back to strength with another solid rise in output and gaining more momentum as new orders rose last month at the highest rate [...]

Park life proves major draw for house buyers, claims Nationwide

Nearly a third of people thinking to move are doing so to be close to a park or have a garden, according to the building society’s latest market research. Nationwide is predicting properties within the new national parks the government is planning over the next 25 years would command premium prices. Chief economist Robert Gardner said: “Our updated research suggests a property located within a national park attracts a 20 percent premium over an otherwise identical property. This is around [...]

Developers key for changing mindsets about green buildings, reveals new report

Market expectations and perceived building standards are holding back the country’s progress to construct net-zero buildings, according to the UK Green Building Council, UKGBC. The organization would like to see developers adjusting investor and owner-occupier expectations about green buildings and this should be set out early in a development’s narrative. It said often buildings were completely fitted out to maximize appeal during the leasing stage resulting in over-provision and waste as typically incoming occupiers removing final fit-outs. UKGBC head of [...]

New help to buy scheme launches next month

First-time buyers can apply for the new equity loan scheme from the middle of next month, Homes England has announced. The new scheme goes live next year and will last until 2023 and this time is solely for first-time buyers. Housebuilders have entered contracts for the new scheme and are already marketing their new builds. Eligible buyers will be able to reserve their homes from mid-December and get the keys to move in from April 1, 2021. Homes England help-to-buy [...]

Green refurb grants should be available up to 2040

Boris Johnson’s decision to extend green homes grants by another year should be stretched to the next two decades, urges the construction industry. Getting existing buildings more energy-efficient is going to take longer than a year to warn builders and surveyors. The Federation of Master Builders, FMB, chief executive Brian Berry said: “Our existing homes contribute 20 percent of all our carbon emissions and consume 35 percent of our energy. A long term retrofit strategy is needed over the next [...]

York set to build 2500 homes next to station

Major work to lay the ground for building 2,500 new homes and 1.2 sq ft of commercial development in York city centre is to start early next year. Councillors voted in favour of the first phase, backed by £77m of government funding, on 45 ha of land next to the city’s station. The site is one of the largest brownfield areas in England and it’s estimated its development will create 6,500 new jobs. York city council leader Keith Aspden said: [...]

Chancellor pressed to extend green refurb grants

Refurb grants for people to make their homes more energy efficient should be available for an extra year rather than finish at the end of March next year urges the Federation of Master Builders. The trade body is calling on the chancellor Rishi Sunak in his spending review on November 25th to bring forward a £9.2 bn manifesto pledge to make existing homes greener. The Federation of Master Builders, FMB, said this would offer a clear pipeline of work. FMB [...]

Green commercial properties prove their worth

The global survey reported stronger occupier and investor demand for commercial properties with green building certificates. This translates into higher rents according to the Royal Institution of Chartered Surveyors, RICS, sustainability findings within its global commercial property monitor for the third quarter. RICS global property standards director Paul Bagust said: “Whether we look at investors or occupiers, it is clear that demand for more sustainable building is climbing.” He said it would be crucial to develop accurate measurements of properties [...]

VAT cut on refurbs campaign mounts as construction headcount slips

Pressure on the government to slash VAT on repairs from 20 to five percent is increasing following a decline in construction workforce numbers. The Federation of Master Builders, FMB, has called on the government to cut VAT on home improvements to boost jobs. It points to yesterday’s purchasing managers’ index, which recorded good output levels of 53.1 for October, above the 50 no-change marks, but a decline in headcounts. The Chartered Institute of Procurement and Supply group director Duncan Brock [...]

Construction aims to make working conditions as safe as possible during second lockdown

Feedback on how to keep construction sites going safely on the eve of England’s second national lockdown on Thursday is being called for by the Construction Leadership Council, CLC. In a public letter, it flagged up its guidance on safe operation of sites, builders’ merchant outlets, and use of public and private transport to work and temporary housing for workers. The CLC asked for ‘immediate feedback’ on what could be done to make guidance better. CLC co-chair Andy Mitchell said: [...]

Expand Small Land Parcels for Housing

SMEs would like the government to ensure smaller plots of land are also available when it comes to disposal of public land, according to a Federation of Master Builders’ survey. The trade body’s members would also like an Ofsted-style system for rating local planning authorities to help improve efficiency. The Federation said one in three of its members want the planning system reformed to help the smaller developer whose contribution to housebuilding has dwindled from 40 percent in the 1980s [...]

First Homes Scheme Warning

Developers could favour building offices or logistic centres in the South East rather than houses because of flaws in the government’s proposed first homes scheme, warns Savills. The property agency has produced a report highlighting potential issues with the scheme where the homes qualifying in London are capped at £420,000 and the rest of England at £250,000. Savills residential research director Lawrence Bowles said: “This is another hurdle to delivering homes making it less attractive than building a logistic centre [...]