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Planning Permission News: Support should be given to those who wish to renovate disused or derelict buildings

Thu, 29 Mar 2012 10:45:29 +0100

The government should introduce financial incentives for people who wish to renovate empty properties, including derellict properties in London, it has been claimed.

David Ireland, chief executive of the campaign group Empty Homes, says that while the government is set to impose charges on people that leave properties unoccupied, it isn’t doing anything to support those which could well bring disused residential and commercial buildings back to life.

“There hasn't been a lot which has really changed for those people and I think that is something which the government could look at still. That would help,” he said.

"There are a whole load of people out there who are very resourceful and who could fix up empty properties. If there was some help for them, then that would help enormously.”

According to a study by the Halifax there are currently 662,105 properties standing unused in UK. These could provide significant investment opportunities to developers.

Planning Permission News: Planning reform to kickstart building projects

Wed, 28 Mar 2012 17:35:54 +0100

The government unveiled the biggest reform of the planning system for more than 50 years on Tuesday.

A cut down in planning guidance for planning is hoped to kickstart more building projects and help to create new jobs.

The government plans come into effect immediately but councils have one year to set out which areas can and cannot be developed.

One of the key things to come out of the new national planning policy framework is an instruction that brownfield sites should usually be developed before sites in green belt areas.

“We must accommodate the new ways by which we will earn our living in a competitive world,” Greg Clark, minister for planning said. “We must house a rising population, which is living longer and wants to make new choices.

“We must respond to the changes that new technologies offer us. Our lives, and the places in which we live them, can be better, but they will certainly be worse if things stagnate.”

There have been some criticisms of the reform, but Mr Clark stressed that a simplification of the planning system would not be to the detriment of conservation areas.

Building & Construction News: Self build sector 'has made notable comeback'

Mon, 26 Sep 2011 13:46:14 +0100

The level of interest in self build properties shows how the sector has bounced back from the recession, according to BuildStore Financial Services.

Raymond Connor, chief executive of the company, explained: "In the last year, self build has made a notable comeback from the recession and is continuing to see steady growth in demand and output.

"With the changing housing market creating the perfect conditions, self build is set to become 'the norm', reaching similar levels to those in Europe."

Mr Connor added that his company's land-finding database saw a 20 per cent year-on-year increase in new subscribers last month and currently boasts around 8,000 self build and renovation opportunities.

Meanwhile, East Staffordshire Borough Council has given planning permission to an application to build 212 new homes on greenfield land.

The development will include 12 detached self build properties, along with a sports pitch, allotments and 14 commercial units.

Building & Construction News

Building & Construction News: Self build model needs to change to go mainstream

Wed, 22 Jun 2011 16:45:58 +0100

Self build properties could become more common in the future if its model changes, Homebuilding & Renovation magazine has posited.

Jason Orme, editor of the publication, commented: "There are several things that need to happen before it becomes mainstream and the key one is for the process to be de-risked."

This means removing all the elements that could deter people from self-building, for example, worries about dealing with builders and concerns about getting a fixed price for their finished property.

"Under the model that I think the government is keen to develop, it will be a much more mainstream option because those issues won't be on the table. It will be a softer self-build in a way and that is really where it will become more mainstream," Mr Orme noted.

His comments come in light of a letter sent by housing minister Grant Shapps to key players in the UK mortgage lending market, which asked them to support a self-build 'revolution' by providing funding to those interested in such projects.

Building & Construction News

Planning Permission News: Square Mile 'could suffer' if offices are turned into homes

Fri, 17 Jun 2011 10:40:53 +0100

Government plans to overhaul the planning system could see more office space in London being turned into residential properties.

According to city planning officer for the Corporation of London Peter Rees, the Square Mile and other renowned business districts could lose their power to attract international organisations and investment if they are not safeguarded.

Speaking at a British Property Federation conference, he is expected to say: "The cyclical nature of the property industry means that if developers were to turn offices into residential blocks when times were tough, the City's ability to attract and house new firms when market conditions improved would be seriously diminished."

Such changes to the planning system could "dilute the concentration of offices", making it harder for companies looking for investment properties in London to find commercial space in the Square Mile, Mr Lees added.

His comments come after the Institute for Public Policy Research revealed that the UK could face a shortfall of 750,000 homes by 2025 because the construction of new build properties is at its lowest peacetime level since the 1920s.

Planning Permission News

UK Pub Sales News: Listed pubs for sale in the West Country

Thu, 16 Jun 2011 17:09:29 +0100

Property investors looking for pubs for sale might be interested to learn that two special properties in the West Country have come on the market.

ThisisDevon.co.uk reported that the Grade-II listed Ashill Inn in Culm Valley has been put up with a value of £295,000.

The freehold includes a restaurant, ground floor bar and commercial kitchen, along with two double bedrooms and a pool room.

Meanwhile, the Swindon Advertiser stated that the Queen's Head in Dunkirk Hill, Devizes, is also on the market.

The pub, which is Grade-II* listed, has been granted planning permission to undergo a change of use and be converted into a house.

Paul Redman, joint owner of the empty pub, told the news site: "We spoke to agents about it reopening as a pub but they were recommending lower rents for it and there were better conditioned pubs coming on to the market. Everyone was telling us that other pubs would survive before this one. It was obvious no one would want it."

He noted that turning the pub into a home raises its value and would allow it to be repaired properly.

"Structurally the property is pretty sound. There are no major defects but it does need a lot of work done on it," Mr Redman added.

Steve Oliver, negotiator at Paramount Investments, commented: "Although I'm sad to see another pub close, I'm pleased that this old building will be restored for future generations to enjoy the outstanding architecture."

UK Pub Sales News

Property Repossession News: Financial concerns are deterring people from home improvements

Wed, 15 Jun 2011 17:12:19 +0100

People who own properties needing modernisation may still feel they cannot splash out on home improvement projects due to lingering concerns about the economic climate.

Andrew Leech, director of the National Home Improvement Council, commented: "I do think that it [the economic downturn] is making lots of people draw in their wings; I think that the money just isn't available for improvements."

However, he noted that homeowners with property in need of restoration should not only be thinking of aesthetic changes to make to their residence, such as installing new kitchens and bathrooms.

"Now of course home improvements means much more than that, it means energy efficiency and making the house air tight and warm and comfortable and cost saving … that's the sort of thing they need to be doing," Mr Leech added.

Meanwhile, the Bank of England has kept the base rate at the record low of 0.5 per cent for another month.

Property Repossession News

Building & Construction News: Construction of new build properties 'hampered by loss of confidence'

Tue, 07 Jun 2011 16:34:44 +0100

The number of new build properties being constructed is being hampered by the loss of householder confidence.

This is the opinion of Brian Berry, director of external affairs at the Federation of Master Builders, who noted that the picture "is very different from what is happening in the other parts of the construction industry because it mirrors the housing market".

"That is connected of course by the stagnation in house building and the fact that householders have lost confidence," he explained.

Homeowners are concerned about their job security, the public sector cuts and frozen salaries, which is resulting in reduced expenditure on home improvements.

Mr Berry's comments follow data from the Office for National Statistics showing the total volume of all new construction orders in the first quarter of the year was down 23 per cent in comparison with the final three months of 2010.

It was also down 18 per cent compared with the same period last year.

Building & Construction News

London House Price News: Prices 'will fall' in coming years

Wed, 25 May 2011 10:07:38 +0100

London house prices, as well as those in other parts of the country, are predicted to fall further over the next few years.

Matt Griffith, spokesman for PricedOut, commented: "Lack of mortgages may be keeping houses out of reach for now, but if first time buyers can focus on saving for a deposit then they may well be rewarded with cheaper prices before too long."

However, he noted that the return of 100 per cent UK mortgage offers would not be sensible and are "more likely to be a burden than a benefit" for first time property buyers' financial health.

Mr Griffith's comments came after Labour leader Ed Miliband attacked the coalition government's policies on providing new build properties.

He said the cuts in investment, "botching" the system surrounding planning permission and removing the requirement for local authorities to allow new homes will make it harder to provide homes.

London House Price News

New Build Development News: Increasing number of new build properties 'is great news'

Tue, 24 May 2011 11:34:23 +0100

The number of new build properties that began construction in the first quarter of 2011 stood at 29,140, government figures show.

Vernon Pethard, managing director at newhomesforsale.co.uk, said this is "great news" and should lead to a jump in new home sales reservations this year.

"Buyer demand is clearly there," he noted, citing increasing numbers of visitors to his site in the search for new build properties.

However, Mr Pethard pointed out that the government must do more to help house builders construct more homes.

"Despite the recent increase in supply, there are still nowhere near enough new homes coming onto the market, which is placing upward pressure on property prices across parts of the country, preventing many would-be first time buyers from buying a new home."

This is resulting in more people "being forced" into renting, which pushes rents up higher while social housing waiting lists are "soaring".

New Build Development News

Building & Construction News: Self build projects 'can be done on a budget'

Mon, 23 May 2011 14:56:22 +0100

Those thinking of creating their own self build properties could do so for around £100,000, according to an expert.

Barry Sutcliffe, author of Self Build Simplified, said the self build market itself has not become elitist, but people are finding it difficult to install all the mod cons for less than a six-digit figure.

"It's so simple, the stuff you need to think about. You don't need to spend £20,000 or £30,000 on a kitchen - if you've got a budget of £100,000 on your whole house you can get a very nice kitchen for around £3,500 or £4,000, and you'll be perfectly happy," he pointed out.

"You can simplify the whole thing and bring the cost right down."

Mr Sutcliffe's remarks come after BuildStore Financial Services announced a 30 per cent rise in the number of UK mortgage offers made for self build projects in the three months to April 2011, compared with the same period last year.

Building & Construction News

Building & Construction News: Self build market is looking up

Thu, 19 May 2011 17:05:06 +0100

Those interested in self build properties may find that the financial outlook is a lot more positive this spring.

According to Jaclyn Thorburn, communications manager at self build specialists BuildStore Financial Services, things are looking up in the sector.

"With more lenders coming into the market, and an increasing capacity to lend to self-builders, the market is looking good - currently up to 90 per cent borrowing is possible, and there are a number of finance solutions, whether you are building a new home from scratch, converting or renovating a property, or doing some home improvements," she pointed out.

The government is also focusing on growing the self build market to match levels seen in Europe, where up to half of new properties are self builds, Ms Thorburn noted.

BuildStore itself has witnessed a 30 per cent rise in self build UK mortgage offers in the three months to April 2011 compared with the same period a year ago.

Building & Construction News

Property Repossession News: Restoring outdated homes 'is a savvy move'

Wed, 18 May 2011 17:07:18 +0100

Landowners who have earmarked their investment as a property in need of restoration could be carrying out a "highly profitable manoeuvre", according to Build It magazine.

Anna-Marie DeSouza, editor of the publication, noted: "If you are investing in your property to make it more habitable or boosting its size for your own future use, this is a far more cost effective option than selling your house and purchasing a new property in the current market."

She explained that making improvements to properties needing modernisation in order to raise their value is a "savvy move", but insisted that homeowners should ensure the amount they are investing can be sufficiently recouped when the abode is sold.

Ms DeSouza's comments follow research from FrogTape showing that over half (54 per cent) of males admit to cutting corners while decorating their homes, while a fifth have botched a DIY task to the extent where they had had to call in outside help to fix it.

Property Repossession News

Property Repossession News: Empty home plans welcomed

Wed, 18 May 2011 17:05:19 +0100

Government plans to bring more empty properties back into use have been welcomed by a charity, those with properties suitable for redevelopment might have heard.

David Ireland, chief executive of Empty Homes, said communities minister Andrew Stunell's comments about the number of long-term empty homes being "a scandal" are encouraging.

"More encouraging than that is that they are actually doing things [about the number of empty homes], which is great," he noted.

Initiatives such as the new homes bonus, which incentivises councils to build more new properties, have been extended to include rewards for local authorities which manage to bring unoccupied homes back into use.

"There is a real incentive for councils to get this done because it not only provides homes; it actually provides an income stream for them as well. These are very encouraging times," Mr Ireland added.

Mr Stunell this week (May 16th) said around 700,000 more people could have a home of their own if the 300,000 empty properties in the country were filled with average sized families.

Property Repossession News

Building Regulations news: Planning system reforms 'must be clarified'

Tue, 17 May 2011 12:57:15 +0100

Government plans to improve the house building system need to be clarified, the Home Builders Federation has stated.

Steve Turner, head of communications at the organisation, commented: "We have got a completely new planning system that is currently being developed and we still are not 100 per cent aware of how it is going to work.

"Local authorities are still unaware and not clear in terms of how it is going to work, so there is a lot of confusion out there."

Mr Turner noted that there is "some uncertainty" over how communities will use their new powers and called for the government to monitor the situation and act immediately if the new planning system fails to live up to expectations.

His remarks come after the Office for National Statistics revealed that the total volume of construction output in the first quarter of 2011 fell by four per cent compared with the final quarter of last year.

Building Regulations news

Building & Construction News: 'Information overload' deterring people from self build properties

Thu, 05 May 2011 17:22:36 +0100

People may be deterred from self build properties because of the "information overload" available, a self build expert has said.

Barry Sutcliffe, who has worked in the industry for more than 25 years, said: "The internet has now exploded, there's a lot more information out there and a massive infrastructure, but the rise [of self-build] has slowed and slowed."

He noted that government ministers have told him the industry is now slowing for the first time in 20 years and believes this is due to the amount of information available to self-builders.

"[People] have got to make these huge decisions all the way through this big project, and they haven't usually got anything to do with building either, so this is all a foreign language to them," he added.

Mr Sutcliffe's comments come after housing minister Grant Shapps announced that the government plans to support self-building as a mainstream housing option.

Building & Construction News

Mortgage Rate & Home Loan News: Lack of finance 'hindering construction sector'

Wed, 04 May 2011 17:02:54 +0100

A lack of UK mortgage offers made to first time property buyers has been blamed for slow activity in the house building sector.

Steve Turner, head of communications at the Home Builders Federation, commented: "The feedback that we are getting from all of our members is that people's inability to buy because of the lack of affordable mortgages remains the main constraint on house building."

He noted that there is an "urgent need" for more housing due to the "huge pent-up demand" as evidenced by local authority waiting lists and the "very low numbers" of first time buyers currently purchasing property.

"[We need a] return to some sensible levels of mortgage lending that allows people to borrow the money that they need to buy a house," Mr Turner added.

His remarks follow research from Knight Frank suggesting that mortgage finance is the greatest threat to the new homes sector, followed by bank interest rate rises and poor economic growth.

Mortgage Rate & Home Loan News

Brownfield Property Development: Construction sector 'must recover quickly'

Tue, 03 May 2011 17:20:45 +0100

In order to encourage more brownfield developments and greenbelt developments, the construction industry must be given support to recover as quickly as possible.

This is the view of Brian Berry, director of external affairs at the Federation of Master Builders, who said it is "absolutely fundamental" for construction to recover because "it underpins all the major infrastructure projects and the housing market".

Until the property market picks up, housebuyer confidence could be affected because for many people, their home is their investment.

"What we need is greater confidence to allow people to start investing again, but it is difficult in the current market because of the government cutbacks that we have seen and job insecurity with people worried about losing their jobs," Mr Berry added.

His remarks come after the Office for National Statistics released data showing that construction output decreased by 4.7 per cent in the first quarter of 2011 compared with a decline of 2.3 per cent in the previous three-month period.

Brownfield Property Development

Building & Construction News: Future-proofing a home could have future benefits

Tue, 03 May 2011 17:19:29 +0100

Those interested in self build properties might be thinking about future-proofing their home in order to reap the rewards later.

According to Anna-Marie DeSouza, editor of Build It magazine, a sensible move would be to think about what homeowners will need from their property in the future.

"In this time of austerity, people are thinking more about their future and thinking about how they will afford to live once retired," she pointed out.

"So many sensible folk are future-proofing their homes for easy access for old age or fitting renewable technologies so that energy is more affordable for them over the years ahead."

Ms DeSouza's comments come after moneysupermarket.com revealed that 16 per cent of people planned to splash the cash on DIY projects over the bank holiday weekends, with nearly one in five (19 per cent) taking out a loan to make improvements around the home.

Building & Construction News

International Property Investment News: 'Age of bling is over' for London skyscrapers

Wed, 20 Apr 2011 15:47:00 +0100

New property developments in London are likely to be less ostentatious than those built in recent years as developers look for better investment yields in the London property markets.

This is the view of architect Ken Shuttleworth, designer of the London Gherkin, who told Bloomberg that the age of the iconic skyscraper is coming to an end in the capital.

"The age of bling is over. Money now drives everything, so if you can build something for half the price, you will," he argued.

Steve Watts of construction consultants Davis Langdon agreed and noted that high-rise properties in London tend to cost up to £150 more per square foot than low-rise buildings.

This means a skyscraper boasting 500,000 sq ft of space will require funding of £150 million, which is twice as much as a lower-rise building with the same capacity, Mr Watts pointed out.

A number of iconic London property developments are currently under construction, including The Shard in Southwark and the Cheesegrater and the Walkie Talkie towers in the Square Mile.

International Property Investment News