Housing crisis ‘hampers growth’ but minister vows 1.5m target on track Politics The UK’s housing crisis “hampers economic growth and productivity”, the housing minister has said, as he insisted the target of 1.5m new homes can be achieved. Labour pledged in its manifesto ahead of the election to deliver the 1.5m net additional dwellings over the course of the Parliament, ending in 2029. It came in response [...]
Crest Nicholson: Housebuilder pivots away from low-margin affordable homes Property Housebuilder Crest Nicholson has said it will trade away from low-margin sites – like affordable homes – as it looks to shore up its balance sheet after a tough year. Crest told markets this morning, it built 1,873 homes in the year ended October 31, of which 45 per cent were affordable – just under the [...]
Use development orders to tackle housing crisis, ministers told Politics The UK government should use development orders to circumvent the planning regime, build homes and address the housing crisis, a new report has argued. Ministers should deploy existing powers – known as local development orders, which allow specific development in certain areas without a planning application – to turbocharge housebuilding, the Adam Smith Institute (ASI) [...]
Taylor Wimpey: Higher demand buoys sales as firm preps for planning reform November 7, 2024 After a tough start to the year, Taylor Wimpey has reported signs of improving customer demand as mortgage rates fall and affordability pressures ease. The housebuilder said it remained on track to deliver UK volumes in line with previous guidance of 9,500 to 10,000 homes and operating profit consistent with current market expectations. In the [...]
Persimmon on track to deliver 10,500 homes as house prices hold firm November 6, 2024 Persimmon's performance has been propped up by improved customer sentiment as interest rates began to reduce and affordability improved.
How will the Budget impact the prime housing market? November 1, 2024 The Budget was, by and large, a set of fiscal promises for people who rely on public services. So with that in mind, how might the Budget affect the prime housing market, a market exclusively for the UK’s wealthiest buyers? Prime houses are typically defined as the upper five per cent of houses in any [...]
First-time buyers could see huge tax hit under rumored Budget change October 28, 2024 First-time buyers could see huge tax hit under changes rumored to be included in the Autumn budget. It has been rumoured that Chancellor of the Exchequer Rachel Reeves will rule out any changes to stamp duty land tax in the Budget. Stamp duty land tax currently applies to homes costing over £250,000, but in March [...]
Chancellor to cut back Right to Buy discounts in Budget October 26, 2024 The Chancellor will cut back Right to Buy discounts as part of next week’s Budget to boost council housing supply. Rachel Reeves will announce plans to consult on a new five-year social housing rent settlement and to reduce Right to Buy, which allows tenants renting local authority-owned homes to buy them at a discounted rate, [...]
Morgan Sindall: Profit at construction firm set to surpass expectations October 22, 2024 Profits in the Fit Out division have continued to "strengthen significantly" due to exceptional volumes and will "materially exceed" expectations, it said.
Number of UK house sales jumped by a third after rates cut, before Budget October 21, 2024 Despite uncertainty about the coming Autumn budget, buyers continued to pile into the property market after the Bank of England cut interest rates, with the number of homes sold up by a third year on year. The number of sales agreed rose by 29 per cent, while the number of potential buyers contacting estate agents [...]