Tag Archives: real-estate
Grand Designs presenter Kevin McCloud’s company to build new homes in Bristol
Presenter of the hit TV show Grand Designs is to build his biggest and most sustainable housing development to date in Bristol. The new housing development in Southmead should be complete by 2019 on the site of an old primary school after Bristol Council agreed to sell the land to housing association United Communities. The association will build the homes in partnership with Kevin McCloud's development company HAB Housing (Happiness Architecture Beauty) which will include 150 properties of which a third will be affordable. The affordable homes will be built to the equivalent of Passivhaus energy efficiency standards and all homes will meet level four of the Code for Sustainable Homes. And it is not just the homes that are to be sustainable. The whole development will be built with the environment in mind. The estate will have a green infrastructure, including sustainable food production, low carbon energy sources and new cycle routes. ‘This development will raise the bar in terms of sustainability and quality of design. The aim is for this to be a transformative housing scheme, one that drives a healthier way of living. “We have worked really closely with the Southmead community throughout the process, and their ideas have been reflected strongly in the design,’ said George Ferguson, Mayor of Bristol. ‘HAB has been eager to win a project in Bristol ever since we began to plan our move here. Now that our offices are in the city, it's with great relish that we can roll up our sleeves and begin work at Dunmail,’ said McCloud. ‘This scheme gives us the opportunity to work alongside local people and organisations and to partner with United Communities, whom we particularly admire. We're looking forward to working in Southmead and delivering something of quality, richness and sustainability for the area,’ he added. Local residents helped to shape the design of the development, and the community will continue to be involved throughout the project. Feedback from residents reflected in the scheme includes the desire for smaller low rise properties, the need for a mixed tenure site and the inclusion of outdoor community space. ‘As a locally based housing association we already have a long track record of working in Southmead, so we’re really thrilled to have won the bid to redevelop the former Dunmail School site. The 150 new homes here will help to tackle the affordable housing crisis in the city, by providing a mix of homes for sale, rent and shared ownership,’ said Oona Goldsworthy, Chief Executive of United Communities . ‘We’ve already starting talking to the local community about what the homes might look like and hope that existing and future residents will be really proud of the new development,’ she pointed out. It is hoped that a planning application for the development will now be submitted in March 2016, and if consent is given work would be due to start in September 2016. Continue reading
UK landlords report increased tenant demand in third quarter of 2015
Private rented sector tenant demand continued to grow across the country in the third quarter of 2015 with 41% of landlords reporting a rise in demand. The data from a survey by Paragon Mortgages also shows that rental yields, that is annual rental income as a percentage of property value, have remained at the same levels seen throughout 2015. The survey, undertaken by BDRC Continental on behalf of Paragon Mortgages, found that yields averaged 5.6% nationally in the third quarter and amongst Paragon customers this figure was higher, with a national average of 5.9%. The greatest number of landlords, 17%, reported yields between 3% to 4%, while one in 10 landlords reported yields of 10% or more. Yorkshire and the Humber reported the highest yields in the third quarter at 6.1% with outer London reporting the lowest at 4.8%, despite outer London having the second largest increase in levels of tenant demand. On tenant demand, the East of England region has performed best in the quarter with 52% of landlords reporting an increase in demand. This figure was just 31% for the North East with a national average of 41% of landlords saying demand had increased. This figure represents a strong year on year increase in tenant demand across several regions since the third quarter of 2014 with the demand in the North East having increased from 23% to 31% and in outer London from 42% to 48%. ‘This research shows that yields, and tenant demand have remained strong throughout the third quarter, in common with 2015 overall. The figures reflect a steadily improving economic outlook for the UK as a whole and show that, more and more people are actively choosing the flexibility of making a home in the private rented sector,’ said John Heron, Director of Mortgages at Paragon. ‘Yields too have remained stable throughout 2015. Quarter three data shows London and the South East slowing down somewhat, while yields in the regions are growing. This represents a welcome rebalancing of the national economy, with some of the heat from London’s economy escaping the M25 and being distributed around the country,’ he added. Continue reading
UK house price growth set to slow in 2016, latest outlook report suggests
House prices in the UK are expected to see growth slow to 4% to 6% due to the increasing difficulty in getting on the housing ladder, together with the prospect of an interest rate rise, according to a new report. The forecast from lender the Halifax comes after a year when activity levels have remained modest by historical standards. A shortage of supply is likely to continue to act as a significant constraint on activity in 2016, it says in its outlook report. Price growth is expected to slow more sharply in London than elsewhere but all regions are expected to experience price rises in 2016 which will be broadly in line with income growth. The report points out that levels of house building remain low, but improvements are expected over the medium term and this would help to bring demand and supply into better balance, helping to constrain upward pressure on house prices. ‘There is little reason to expect any fundamental shift in the key market drivers in the immediate future. As a result, the substantial imbalance between supply and demand is likely to persist, maintaining upward pressure on house prices in 2016,’ said Halifax’s housing economist, Martin Ellis. ‘On average, UK house prices look expensive compared to incomes but valuations are supported by the low levels of property for sale, low levels of house building, and exceptionally low interest rates,’ he explained. ‘Nonetheless, with house prices continuing to increase more quickly than average earnings, it is increasingly difficult to get on the housing ladder. This ongoing development, combined with the growing prospect of an interest rate rise, should start to put the brakes on house price growth during the course of 2016,’ he pointed out. ‘A continuing shortage of supply is likely to continue to act as a significant constraint on activity over the coming year. Sales in 2016 are expected to be modestly higher than this year, but to remain well below the peak of 1.6 million in 2006,’ he added. The report points out that house price growth has been robust throughout 2015. The quarterly rate of increase was 2.8% in October, according to the latest figures, a little above the 2.5% average over the first nine months of the year. The annual rate stood at 9.7% in October, the highest annual rate since August 2014 when it was 9.7%, with the annual rate in a narrow band between 8% and 10% all year. ‘Improving economic conditions with continuing growth and rising employment and strengthening household finances, assisted by increasing real earnings for the first time for several years, have boosted housing demand during 2015. This has been supported further by very low mortgage rates which have fallen over the year,’ Ellis explained. ‘Strengthening demand has combined with very low supply, both in terms of new build and second hand properties for sale, to drive strong underlying house price growth. New instructions by home sellers declined in October for the ninth… Continue reading
