Affordable housing rules dropped to boost builders September 6, 2012 HOUSEBUILDERS and business organisations yesterday welcomed the government’s decision to temporarily relax planning laws as Downing Street announced it would scrap the requirement for private developers to build affordable housing in an attempt to kick-start a construction boom. Under existing rules builders are required to designate a set percentage of every development either for housing associations [...]
What does the chancellor’s budget mean for you? December 5, 2012 Catherine Gannon, 50 Managing director of law firm Gannon Having started her own business 10 years ago, she earns around £100,000, though says this is getting more difficult to achieve, and while she has a share portfolio, she doesn’t have much in the way of a pension plan. Lives with her two children aged 10 [...]
House prices to remain below peak until 2024 July 11, 2012 UK house prices may not return to their peak until well into the 2020s, claimed a report from PwC yesterday. House prices reached a peak in 2007 that they may not reach until 2017 in cash terms, and 2024 relative to consumer prices, the report said. Average prices are expected to plateau for the next [...]
Boris needs to be innovative to get the private sector building houses August 16, 2012 THE Mayor of London owns 530 hectares of land and is the largest public landowner in London. He is responsible, with the London Boroughs, for addressing the needs of the 350,000 Londoners on the housing waiting list, for planning for the future housing needs for the capital, and for a budget of around £3bn to [...]
Mortgage lending jumps ahead of Funding for Lending Scheme August 20, 2012 MORTGAGE lending jumped sharply in July, according to industry data published yesterday, with the government’s new Funding for Lending Scheme expected to boost loans further through August. Gross lending rose eight per cent to £12.7bn in the month, reversing the fall to £11.7bn in June, the Council of Mortgage Lenders revealed. However, analysts warn the [...]
RAPID RESPONSES July 16, 2012 Building problems [Re: London homes still horribly expensive for first time buyers, yesterday] Unfortunately, policy-makers are stuck in a house building dilemma. If they supply more homes to help first-time buyers, the price of the average home will drop – therefore moving many existing homeowners into negative equity. Stephen Bishop Private sector contractors are certainly better [...]
Back to work September 2, 2012 THE COALITION announced a raft of new policies yesterday in a desperate attempt to get the economy – and their poll ratings – back on track. But critics said ministers’ infighting and U-turns were making matters worse, creating extra uncertainty for businesses while failing to come up with any meaningful solutions to the double-dip recession. [...]
Equistone exits UK energy firm at a premium February 18, 2013 EQUISTONE, the private equity group, yesterday exited its majority stake in oil and gas company Hydrasun after selling it to a Bahraini-listed investment company. The sale, which comes over five years after Equistone backed a management buyout of the firm, represents more than a 2.5x premium to the firm’s original money investment of £38m. The [...]
Building your house on government support does not provide the firmest of foundations August 20, 2012 BETWEEN a government practically falling over itself to offer support and the supply constraints that continue to dog the UK property sector, there are worse things to be, even in today’s difficult marketplace, than a housebuilder. As Bovis Homes proved yesterday, with a doubling of pre-tax profit in the first half of the year compared [...]
Outside prime London, house prices are falling back to earth October 4, 2012 IT is one of the most important economic stories of the past few years and yet the one that is least talked about. House prices in virtually all parts of the country excepting prime London have collapsed. It’s hard to believe if you live or aspire to live in Kensington, Richmond or another prosperous location, [...]