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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|Blog, Finance News, Planning News, Projects|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|Blog, Finance News, Planning News, Projects|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|Blog, Finance News, Planning News, Projects|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|Blog, Finance News, Planning News, Projects|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|Blog, Finance News, Planning News, Projects|0 Comments
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Housing delivery in London still way off-target

Construction Loans News:- New residential build in London is at near-record levels for the second quarter of 2019 despite being way below London's draft plan goal of 65,000 new homes a year, claims property agents Savills. A total of 40,735 energy performance certificates, EPCs, for new builds were issued for May to June - an 8 per cent year-on-year rise, although a slight fall on the previous quarter. https://www.youtube.com/watch?v=Rw_dTlS7_Ug&t=2s Residential development researchers  Molior reveals sales for private units on sites [...]

By |2021-11-13T10:51:30+00:00September 4, 2019|Blog, Finance News, Planning News, Projects|0 Comments
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House building shows slight decline in August

UK construction activity has contracted for the fourth successive month as Brexit unpredictability sharpens. The IHS Markit purchasing managers' index fell to 45 in August down slightly from 45.3 in July and below the 50 no-change threshold. https://www.youtube.com/watch?v=gZkYeRN7z9k IHS Markit economics associate director, Tim Moore, said: "Construction companies noted that rising risk aversion and tighter budget setting by clients in response to Brexit uncertainty had held back activity, particularly in the commercial sub-sector." Building firms indicated a slide in business [...]

By |2021-11-13T10:51:38+00:00September 3, 2019|Blog, Finance News, Planning News, Projects|0 Comments
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Housebuilders cash contributions to get local residents’ recognition

Construction Loans News:-New planning rules enabling residents to see how housing developers' money has been spent in the community have come into force. The government passed legislation on September 1st requiring councils to publish the details of deals done with housing developers so residents can see how the money will be spent. Housing minister, Esther Mc Vey, said: "The new rules will allow residents to know how developers are contributing to the local community when they build new homes - [...]

By |2021-11-13T10:51:45+00:00September 2, 2019|Blog, Finance News, Planning News, Projects|0 Comments
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Extra £180k premium to buy a house close to a top notch school

Bridging Finance News:- Exceptional schools boost house price values by as much as £180,000 according to a study by online mortgage broker Trussle. Ofsted has identified 703 outstanding rated state secondary schools, academies and colleges across England. Trussle found average asking prices in the same postcode areas as these schools was £427,116 – £180,116 more than the average house price in England of £247,000. Chief executive, Ishaan Malhi , said: "Living near to good schools is a priority for many [...]

By |2022-03-16T14:32:18+00:00August 29, 2019|Blog, Finance News, Planning News, Projects|0 Comments
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Bermondsey in south London set to get 86 luxury flats

Bridging Finance News:- An £83m mixed-use development of 86 luxury flats and 143 apart-hotel  residences in Bermondsey, south London, has got the go ahead from Southwark council. The scheme is the latest joint venture for developers Galliard Homes and Acorn Property Group. https://www.youtube.com/watch?v=C1-k6Ika-0Q&t=1s The Newhams Yard development off Tower Bridge Road will comprise three towers of up to ten storeys around a public courtyard with shops, restaurants and office services on the ground floor. Galliard Homes sales director David Galman, [...]

By |2021-11-13T10:52:14+00:00August 27, 2019|Blog, Finance News, Planning News, Projects|0 Comments
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London house prices drop in June while the regions flourish

UK House Prices News:- London experienced the biggest annual house price fall of 2.7 per cent in June, while Wales recorded the highest year-on-year rise of 4.4 per cent. The Land Registry house price index showed Northern Ireland's prices at the end of the second quarter, April to June, increasing by 3.5 per cent compared with the same period in 2018. https://www.youtube.com/watch?v=BqZlmQWersU&t=12s In England there was a modest monthly rise of 0.7 per cent and a yearly one of 0.9 [...]

By |2021-11-13T10:52:22+00:00August 14, 2019|Blog, Finance News, Planning News, Projects|0 Comments
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Construction industry demands delay on reverse VAT

Many smaller house builders could go out of business if domestic reverse charge VAT is introduced on October 1st, a coalition of construction trade bodies has warned. Fifteen associations have signed a letter sent to the chancellor, Sajid Javid, this week urging the new rules be postponed for a minimum of six months. https://www.youtube.com/watch?v=vK9_6vD5tuA They claim the changes could lead to a loss of productivity, reduced cash flow and in the worst cases, lead to a hit on jobs, tipping [...]

By |2021-11-13T10:52:35+00:00August 9, 2019|Blog, Finance News, Planning News, Projects|0 Comments
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