Investment
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
Property sales in top US ski resort of Aspen hit eight year high
Sales in Aspen, regarded as the US’s premier ski resort, have reached an eight year high, and prices are up 3.9% year on year. The data from Knight Frank residential partners Douglas Elliman shows that the resort, which covers four mountains, saw more than 80 properties changing hands in the first nine months of 2015, nine of which were above US$10.6 million. Aspen Mountain itself generated the strongest volume of property enquiries and the highest property prices, with values around US$3,000 per square foot, the report reveals. By comparison, a luxury home on one of the neighbouring mountains of Snowmass, Buttermilk and Highlands ranges from US$1,000 to US$2,000 per square foot. Overall residential prices in Aspen rose by 3.9% in the 12 months to September 2015 and more enquiries have been coming from Chinese buyers. The report explains that each resort has its own distinct appeal. Aspen Highlands is favoured by the locals, Snowmass appeals to families and Buttermilk is considered the best mountain for beginners. Property demand is primarily domestic but international interest is on the rise. Alongside those Europeans seeking a ski retreat, primarily German, French and British, and Australian and Chinese enquiries are strengthening. Aspen is described as a truly year round resort, offering a programme of events from Jazz Aspen, Food and Wine Classic, the Aspen Music Festival and the Aspen Institute’s Ideas Festival in the summer months. The X Games, Wintersköl and World Cup Ski Championships dominate the winter months. The report says all of this helps to put Aspen on the radar of international buyers. Aspen, due to its cooler climate, is also popular with Texans and Californians in the summer months. It adds that the Aspen-Pitkin Co. Airport is located less than four miles from the heart of Aspen and has a more regular service from major carriers than any other regional ski town airport in North America. In the winter, its regular, weekly flights number more than 170. In addition to regular service from Denver, Aspen sees more than 20 flights a week from Chicago and Los Angeles. 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
