Any discussion on the UK housing crisis invariably jumps straight to housebuilding: build more houses, and house prices and rents will fall, proponents claim. The recent Labour-commissioned Redfern Report argues it’s a little more complicated than that, as life tends to be. When surplus stock has increased or decreased from one year to the next, the impact on house prices is negligible.
The sale of the Land Registry into private hands has been officially – if quietly – abandoned.
The news was buried deep in the small print of the Autumn Statement.
The City of London Corporation on Monday gave the green light for the City’s tallest tower, dubbed the “Trellis”, to be built.
At 304.9 metres, the 1 Undershaft 73-storey skyscraper will be the highest in the Square Mile although five metres shorter than the Shard at London Bridge. It will occupy the site of what is now the Aviva Tower.
Cambridge and Oxford follow the capital at over 13 times earnings while Glasgow and Liverpool have lowest income-to-price ratio
Shares in the UK’s biggest chain of estate agents slumped by more than 12% after the company reported a big drop in London property transactions and warned that Brexit was undermining buyers’ confidence.
Countrywide, which operates more than 50 agencies around the UK including Bairstow Eves, John D Wood and Hamptons International, said there had been a 29% plunge in the number of homes it sold in the capital in its most recent three months and warned that profits in the full year would be at the lower end of market expectations.
Government aims to build 40,000 additional affordable homes by 2021 – but OBR says it expects 13,000 fewer homes to be built over next five years
Estate agency Countrywide's shares have fallen to their lowest ever level after the company issued a profit warning.
Shares fell more than 11pc to £1.68 in early trading as it said profits would be at the "lower levels of expectations" this year due to what Alison Platt, chief executive, described as "tough market conditions". This included low levels of transactions as a result of Brexit uncertainty and changes to the stamp duty system.
Communities Secretary Sajid Javid has dismissed an appeal by Gladman Developments Ltd over a mixed-use development of up to 385 new homes, open space and land for a primary school.
The development, in the village of Stretton, was originally refused by East Staffordshire Borough Council and included provision that a third of the housing would be affordable.
A collapse in London house sales since the Brexit vote sent the UK’s biggest estate agent spinning to a shock profit warning on Thursday.
As confidence returns after a post-referendum lull, there has been a huge surge in the amount paid for house-building contracts, reaching the highest level since 2010.
According to analysis firm Barbour ABI, which monitors the health of the construction industry, the value of contracts signed in October was £2.3bn, based on a three-month rolling average.
Sales of homes in the UK remained sluggish in the autumn, compared with the same period last year, HM Revenue and Customs figures show.
Experts have pointed to a lack of homes on the market failing to match demand as a key factor affecting prices and the sector.
Changes to the tax and planning system are needed to encourage more landowners to release land in rural areas for affordable housing, according to countryside campaigners.
The Campaign to Protect Rural England (CPRE) says landowners could play a crucial role in solving England’s housing crisis, but obstacles need to be removed to enable it to happen.
The City’s tallest tower — known as the “Trellis” — is set to get the go-ahead after planning officers gave the thumbs-up to the scheme.
Around £300 million of Chinese money has been ploughed into the capital’s property sector since the Brexit vote, and billions of pounds more are coming to create a new financial district in east London.
The new boss of Nationwide is withdrawing Britain’s biggest building society from the commercial property lending market, drawing a line under the business just as the Brexit vote starts to rattle the sector.
Councils in Britain have spent more than £3.5bn on temporary accommodation for homeless families in the last five years, data obtained by the BBC shows.
In that time the annual cost has risen 43%, with councils spending £851m on temporary housing in 2015 alone.
Official figures show 32,110 were built in the year to March 2016, compared with 66,600 in the previous 12 months
Fewer affordable homes were built in the past year than any time in the past 24 years, while there was a 52% fall in the supply of new homes in just 12 months.
A mortgage lender has added a clause to its home loans that allows borrowers to let out their property through Airbnb without asking its permission.
Generally lenders expect customers to ask permission before offering their homes for short-term lets, and some will charge a fee to give consent. A survey by the Guardian in April found some refused short-term lets completely, while others asked up to £295 in consent fees.
Metro Bank said its mortgage customers could now let their homes on Airbnb or similar sites for up to 90 days a year without contacting it for prior approval.
The number of affordable homes built in England in 2015-16 fell to its lowest level for 24 years, new data shows.
There were 32,110 built, compared to 66,600 in the previous year, according to figures from the Department for Communities and Local Government.
Ministers said the slump was because of the start of a new housebuilding cycle, adding the government was investing £8bn in affordable housing.
Property firm British Land is scouring the market for a buyer of its 50% stake in the City tower to help fund the new Liverpool Street development which it committed to today.
The stake in the trophy building, now full up with tenants including the practice of its own designer Lord Rogers, is likely to appeal to the raft of buyers from Asia and the Middle East looking for assets in London following the pound’s post-Brexit crash. Cushman & Wakefield is the agent on the deal.
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