Tag Archives: environment

Change could let developers build homes on green belt land

A Government initiative to remove protections on one part of the UK’s green belt in return for creating a new area of protected land elsewhere is expected to be given the go ahead next month. The move is expected to be publicly backed by ministers in a White Paper in December and is seen as […] The post Change could let developers build homes on green belt land appeared first on PropertyWire . Continue reading

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Architects set out what needs to be done to improve UK housing market

Housing policy alone is not enough to solve the UK’s housing crisis whose roots are as complex as they are varied, according to architects. The Royal Institute of British Architects (RIBS) says that as demand for new homes continues to outstrip supply successive governments have failed to keep up and it believes that the only solution lies in bringing together the public and private sector to promote, enable and finance new homes, and improve the quality of homes. In a new report it points out that high quality design needs to be at the heart of the solution. ‘Without it, we’ll be solving one problem by storing up further challenges for the future,’ it says in a anew analysis report and calls for housing policy to be added to the remit of the National Infrastructure Commission and for future infrastructure schemes to include details of their impact on housing supply. It also calls for the establishment of a Chief Built Environment Adviser and better use of public resources. ‘With interest rates at historic lows, more can be done to use the balance sheets of public and private sector bodies to boost housing supply,’ the report suggests, adding that the cap on Housing Revenue Account receipts should be lifted to allow councils to borrow to build social housing. Other possibilities include central and local governments setting up public sector investment vehicles and a national housing investment bank to issue bonds and ISAs, recycle right to buy receipts and attract long term institutional investment. RIBA believes that local authorities should set up Local Housing Development Funds, with initial capital for investment provided by local authority pension funds. Once such schemes are up and running, they would be able attract secondary institutional investment and the Government should transfer responsibility and resources for housing and planning to local and regional authorities. ‘This transfer needs to be accompanied by greater autonomy over policy setting. The regeneration of housing estates should be based on an approach which makes the most of the strengths of existing communities and addresses the challenges exacerbated by the urban environment such as anti-social behaviour or high rates of obesity,’ the report says. ‘Local leaders should be empowered to shape their local housing market by taking control over requirements for affordable housing, including the tenure composition for new developments such as social rent, affordable rent, living rent, shared ownership, and Starter Homes, based on local housing need, rather than fixed national targets,’ it adds. It also points out that self build and custom build add value to a locality, can be an affordable routes to home ownership, and are valuable as delivery mechanisms for new, high quality homes. It acknowledges that the Self-Build and Custom Housebuilding Act and the Housing and Planning Act aim to identify land and provide planning policies to support custom build but says that unless local authorities have sufficient resources they will struggle to implement their duties… Continue reading

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Majority of home owners aged 55 and over in UK don’t want to downsize

Most people in the UK aged 55 and over have no intention of downsizing to a smaller property and it lack of suitable homes available that is putting them off, according to new research. Some 58% don’t want to move despite calls from the property and construction industry for more to be done to free up homes for first time buyers and second steppers, according to the research from My Home Move. For those that would consider downsizing a the lack of suitable properties and the costs involved in moving, including Stamp Duty, represent barriers to doing so. Some 46% of would-be downsizers want to move into a bungalow, while 20% are looking for a detached property while 52% want a property that is easier to manage and 21% want to release equity to help loved ones and enjoy life’s luxuries ‘The housing market has been suffering from a lack of stock for over 12 months, causing demand to outstrip supply time and time again. This has resulted in sky high house prices, instances of gazumping increasing and the Bank of Mum and Dad being called upon regularly to help first time buyers with their deposit,’ said Doug Crawford, chief executive officer of My Home Move. ‘Unfortunately, the findings from our survey suggest the situation is unlikely to ease; especially as 58% of those questioned have no intention of downsizing to release more top end properties onto the market anytime soon,’ he added. The survey also discovered that for the 25% who would like to downsize real and urgent barriers were stopping them from putting their homes on the market. Some 39% said there are not enough of the right kind of properties available to move into, 40% saw the costs involved in moving, including Stamp Duty Land Tax, as too prohibitive to consider moving now. ‘Despite the changes to Stamp Duty in 2014, the costs involved in moving can still tally into the thousands. This is especially true since the introduction of the 3% surcharge for additional properties. For those on a fixed income or heading towards retirement, it is not surprising that the financial reality is a stumbling block,’ Crawford explained. ‘We have seen stamp duty holidays for first time buyers in the past, so there is no reason the government couldn’t extend a similar scheme to downsizers, to help free up the market and get transactions moving,’ he pointed out. Continue reading

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