Development Funding News:- House prices in April revealed a 1.4 per cent year-on-year rise according to the latest Land Registry figures . The average UK house is now valued at £228,903 with April figures showing a 0.7 per cent increase on March's data. First-time buyer house prices revealed a monthly increase of 0.5 per cent and a yearly increase of 0.6 per cent bringing the average value to £205,022. New builds showed a monthly price rise of 3.4 per cent [...]
Development Finance News:-Nearly 46,000 new houses were started on site on schemes managed by Homes England last financial year - the highest figure in nine years. The government's housing accelerator added that 40,289 houses were completed - the highest level in the last four years. Out of the starts on site 30,563, two thirds, were for affordable homes - a 10 per cent increase on the previous year. These were the highest numbers of affordable home starts for five years. [...]
Bridging Finance News:-The planning for the construction of the project SAINSBURYS STORE, 656 FLATS, 27 HOUSES, RODEN STREET is underway and it will happen at 55 Roden Street, Ilford, and Essex, IG1 2AA. The council of Redbridge will be governing the construction of this project. The project is scheduled to start with its construction by the May of 2020 and will be lasting for a period of 48 months, ending roughly by the May of 2024. The total floor area [...]
Development Finance News:- Dundee is on track to deliver 520 new homes by the end of the financial year, according to the city's draft housing land audit figures published last week. The city council said it had already delivered 430 new homes last year which was more than double the 201 homes built in 2017-18. In March the council agreed to meet the strategic housing supply target based on an average of 480 homes a year, including 200 through the [...]
UK House Market News:- New buyer interest stabilised in May with predictions of house prices rising within the next 12 months, according to the Royal Institution of Chartered Surveyors' residential market survey. Respondents' said they expected sales to improve within the next year, despite predicting a decline in activity over the next three months. There was a positive net balance of 22 per cent forecasting a rise in house prices in all parts of the UK except London and the [...]
Constructions Loans News:-Builders are coming together to create a mandatory licensing scheme to improve quality and professionalism in the sector. A new construction licensing task force, supported by a range of leading industry bodies, will lead the initiative. Task Force chair Liz Peace, former British Property Federation chief executive, said the scheme would transform Britain's industry into a world-leading sector. "At the heart of what we’re trying to do is increase protection for the ordinary person who engages with the [...]
Development Loans News:- The construction of the project NINE ELMS SQUARE, NEW COVENT GARDEN MARKET – PHASE 2 is going on at New Covent Garden Market, Nine Elms Lane, South Lambeth, and London, SW8 5NX. The council of Wandsworth is governing over the construction of this particular project. The total area that is required for this project equals to 57376 sq. m and the total site area required equals to 24.57 Ha. There are 54 storeys provided in total. These [...]
Property Development News:-Woking is to receive £95m and Truro £47m to build roads, widen bridges and connect utilities for new developments. The investment in Woking, Surrey, will pay for widening Victoria Arch Bridge, road improvements and connecting utilities so up to 4,500 homes can be built. Surrey county council is delivering the project which is set to reduce congestion as well as opening up land for housing. Truro will get an extra 4,000 homes as a result of the £47m [...]
Construction Loans News:- House prices for the three months to May rose by 5.2 per cent compared with the same period last year, according to Halifax data. They were also 2.5 per cent higher than the previous quarter and last month's figures showed a monthly rise of 0.5 per cent. The lender highlighted Bank of England data which revealed the number of mortgages approved for buying houses rising by 5.9 per cent in April to 66,261. Halifax's managing director, Russell [...]
Construction Loans News:- New rules on the way housing developers pay for infrastructure are to be brought in, the Government confirmed this week. Builders already have to pay for roads, schools, GP surgeries and parkland that is needed so that areas can cope with the influx of extra residents. Regulations were laid in parliament this week, aimed at making it easier for councils to introduce the community infrastructure levy. Housing minister Kit Malthouse said the Government would simplify the current rules [...]
Residential developments were the only part of the construction industry to grow in May, according to figures from the Purchasing Managers Index, PMI. The construction index fell to a 15-month low of 48.6 in May after rising to 50.5 in April from 49.7 in March and 49.5 in February. May’s reading of 48.6 took the index below the 50 level which indicates flat activity. Last month's growth in house building was softer than the average in 2018. Residential developments have [...]
Development Funding News:- The number of exchanges for residential properties above £2m rose by 1 per cent in the year to April compared to the previous 12-month period, according to Knight Frank sales data. The estate agent said in central London neighbourhoods exchanges had risen by 7 per cent in the year to April, while the increase in north London was 17 percent. Viewings had increased for properties valued over £2m, where there were 3 per cent more viewings in [...]
