The National Housebuilders Federation’s (NHBC) latest statistics indicate the biggest number of new registrations since 2007 during the quarter April to June this year when a total of 43,438 new homes were registered – a 12% increase over the same quarter last year. Housebuilder.
The new Chancellor Sajid Javid has promised more than £600 million in infrastructure projects designed to pave the way for the building of up to 50,000 new homes. The investment is part of a revamped National Infrastructure Strategy. Gov.UK.
In defiance of a weak housing market in which many small builders are struggling to cope, volume producer Persimmon has posted £500 million in pre-tax profits for the first half of its financial year, putting it on track to reach £1 billion by the end of the year. Daily Mail.
The Federation of Master Builders, Build UK, the Construction Products Association (CPA), the Civil Engineering Contractors Association (CECA), and the Association for Consultancy and Engineering (ACE) have addressed an open letter to Prime Minister Boris Johnson with a plea for an orderly and managed Brexit. Specification Online.
The biggest lender in the United Arab Emirates (UAE), First Abu Dhabi Bank (FAB), has joined a growing number of foreign investors in UK social housing schemes. FAB has advanced a £50 million unsecured loan to housing association Optivo, which plans to add a further 4,850 new homes to its existing stock of 44,000 dwellings over the next three years. Social Housing.
Taylor Wimpey – the country’s second-largest housebuilder – has seen a fall in operating profits down to 18% in the first half of this year compared to the 22% it achieved over the whole of 2018. Increased housebuilding costs are to blame, says the company. Building.
Housebuilders Bellway reports a record number of new home completions in the past year to the end of July – a total of 10,892 dwellings, which is 5.7% more than in the same period in 2018. At the same time, though, it also warns that its operating margins are likely to be significantly down on the previous year. Property Reporter
In a wide-ranging interview, Lord Kerslake, the President of the Local Government Association, issued a plea to Boris Johnson’s new administration to avoid channelling public funds towards the Right to Buy for housing association tenants and instead focus on funding for affordable, social renting. Housing Today.
Buying a buy-to-let property via limited company is now more than twice as popular as buying as an individual, according to new research from Precise Mortgages. Financial Reporter.
The number of people repossessed rose by 15% compared with the same quarter last year. Financial Reporter.
The average deposit amount for a first-time buyer is now £30,945, a rise of 17% over the past 12 months, according to new research from Experian. Financial Reporter
The Bank of England’s Monetary Policy Committee has voted unanimously to maintain Bank Rate at 0.75% but says Brexit deal would trigger rise. Financial Reporter
Gross annual bridging lending increased to £5.6bn for Q2 2019, the third highest quarter on record, according to the latest research. Bridging and Commercial
A number of regions across the UK have seen an increase in bridging activity, according to experts in the sector. A review of how bridging has changed across the UK. Bridging and Commercial