More young people look set to live with their parents as buying a home becomes increasingly expensive, the government’s housing accelerator Homes England has warned. Office of National Statistics has revealed the cost of a home is rising quicker than earnings with affordability ratios increasing from 4.92 in 2002 to 8.28 in 2022. “Many young people cannot afford to buy homes in their local communities where they have grown-up, due to worsening affordability,” Homes England said in its latest factsheet [...]

More than half of SME builders reported the planning system as their biggest barrier to delivering new homes, according to the Federation of Master Builders, FMB, annual survey. Respondents cited ‘inadequate resourcing’ of planning departments as the main reason for delays in applications followed by poor communication. FMB chief executive Brian Berry said: “For small builders, the survey is clear that the system is too complex and costly. Communication from local planning authorities is also poor. Without changing this, planning [...]

Deloitte’s latest London office crane survey sees the highest volume of new offices being built since 2005 the study was extended to cover seven central London areas. Currently, 124 schemes are under construction totalling more than 15m square feet in volume in the West End, Midtown, Southbank, Docklands, Kings Cross and Paddington with The City leading the way. Deloitte real assets advisory director Sophie Allan said: “New builds have roared back from their post-pandemic nadir, which has likely been driven [...]

Two-thirds of younger Londoners support green belt reform to help solve the capital’s housing crisis and enable them to buy their first home, according to research.  Pocket Living, which builds affordable homes for first-time buyers, surveyed 1,000 Londoners aged between 25 and 45 and found more than three quarters, 78 per cent, felt the government was not doing enough to create reasonably-priced homes.  Chief executive Marc Vlessing said: “Our findings suggest a staggering two in three non-homeowning Londoners believe they [...]

An updated list published this week shows all 51 developers have now signed up to the government’s building safety remediation contract.  Four developers who had signed up have been found to be outside the scope which covers properties of 11 metres or higher built in England over the last 30 years.  A spokesperson from the department for levelling up, housing and communities said: “It’s good news. We are glad that all the developers we have approached have now signed.”  The [...]

Smaller housebuilders must be part of the push to build 1.5m new homes over the next five years if Labour is elected, says the construction industry. Labour leader Sir Kier Starmer told party conference delegates they would ‘bulldoze’ the planning system and harness development corporations to build new towns across England. “There is one barrier so big, so imposing that it blocks out all light from the other side. “A blockage that stops this country building roads, grid connections, laboratories, [...]

Smaller housebuilders are hoping the government’s decision to delay biodiversity net gain, BNG, rules until next year will lead to more practical requirements. Although the housebuilding industry has supported the concept of a ten per cent BNG, on or off-site, they were worried the new rules would put SMEs out of business. National Federation of Builders, NFB, chief executive Richard Beresford said: “We have worked incredibly hard on strategies to ensure BNG can work in practice and the announced delay [...]

Housebuilders have hailed the government’s decision to shift the burden of river nutrient neutrality to the water companies as a step in the right direction. The Government is to double investment in Natural England’s nutrient mitigation scheme to £280m to offset the nutrient discharge of building up to 100,000 new homes between now and 2030. It will also amend the levelling up and regeneration bill requiring water companies to upgrade their treatment works by 2030 in areas of ‘nutrient neutrality’. [...]

The housebuilding industry is calling on lenders to offer mortgages at more favourable rates for those buying new homes where energy bills are less than half that of existing properties. The Home Builders Federation Watt a Save report reveals owners of new homes will save an average of £135 on running costs under Ofgem’s new price cap. HBF managing director Neil Jefferson said: “As mortgage affordability gets tougher, rental costs increase and the country’s need for homes grows increasingly desperate, [...]