May 16, 2021

LEADING HOUSING ASSOCIATION ANNOUNCES POLICY COMMITMENTS TO BOOST SECURITY AND CUT COSTS FOR SHARED OWNERS

Leading housing association Metropolitan Thames Valley Housing (MTVH) has announced several major policy commitments to boost security and cut costs for its existing and future shared ownership customers surrounding leaseholds and ground rents. In new commitments recently unveiled, MTVH will offer all pipeline and new leasehold residential sales a 990-year

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Works to Start on New Development in Retford

Works to Start on New Development in Retford

Construction works on a new £19m residential scheme in Nottinghamshire are set to commence in summer 2021, led by property developer Taggart Homes. Located in the old market town of Retford, in north Nottinghamshire, the development known as ‘Bracken Lane’ will consist of 71 two, three, four and five-bed properties

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Experts Predict Future Housing Trends

Experts Predict Future Housing Trends

House prices have continued to soar in April, up 1.4% from March and 8.2% YTD to an average of £258,204, according to the latest Halifax index, with no sign of slowing down any time soon. With that in mind, experts at Money.co.uk have offered their expertise answering some of the

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Latest Issue
Issue 323 : Dec 2024

May 16, 2021

LEADING HOUSING ASSOCIATION ANNOUNCES POLICY COMMITMENTS TO BOOST SECURITY AND CUT COSTS FOR SHARED OWNERS

Leading housing association Metropolitan Thames Valley Housing (MTVH) has announced several major policy commitments to boost security and cut costs for its existing and future shared ownership customers surrounding leaseholds and ground rents. In new commitments recently unveiled, MTVH will offer all pipeline and new leasehold residential sales a 990-year lease, alongside ensuring that ground rents will not be charged on any pipeline or new sales on schemes where MTVH is the freeholder. This major policy commitment will be effective immediately. MTVH has also announced its plans to offer similar commitments to existing shared ownership customers at occupied schemes, with the option for customers to extend their lease to 990-years from June 2021 at a cost based on the share they own. Additionally, marriage value will no longer be considered when calculating the cost of a lease extension.[1] Geeta Nanda, Chief Executive of MTVH, comments: “We are pleased to announce our new policy commitments which are designed to boost security and cut costs for both our valued existing customers and future shared ownership customers at MTVH schemes. We are aware that these two issues are of importance to our customers and therefore are taking these steps to improve their shared ownership experience. “Throughout our policy review, we have been particularly mindful that upcoming changes to shared ownership policy do little to enhance the experience of existing shared ownership customers and we were keen to explore what could be possible and within our means. Given that new customers will be guaranteed the security of a longer lease term, it is only right that this is offered to our existing customers too.” Geeta adds: “We welcome the government’s wider proposals to implement 990-year leases across the shared ownership sector, but have taken the decision to act now to ensure our customers benefit from an extended lease length as quickly as possible.” In a step further, a raft of other measures that will benefit MTVH leaseholders more generally will be introduced from April 2022. This will include the phasing out of ground rents across MTVH’s portfolio where they own the land, and the option to extend their lease to 990-years, alongside the removal of marriage value. Geeta adds: “Whilst shared ownership has been impacted by some of the complexities of leasehold tenure, it is important that we address this across the board and ensure that any customers who have purchased through MTVH privately are offered a fair chance to extend their lease at an accessible cost too. We are pleased to be working on policy amendments that will allow all customers this option, as well as removing additional costs such as ground rents.” To find out more about Metropolitan Thames Valley Housing visit www.mtvh.co.uk. [1] Marriage value is the increase in the value of the property following the completion of the lease extension, reflecting the additional market value of the longer lease.

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Panattoni announced largest logistics developer in the UK and Europe – 5th year in a row

Panattoni, the largest developer in Europe, has, for the fifth year in a row, taken first place in PropertyEU magazine’s Top Logistics Developers ranking. In 2018–2020, the company delivered 69 million sq ft of warehouse and industrial space to the market. Panattoni owes its strong position to its expert anticipation of market trends and its rapid response to the economic turmoil brought about by the pandemic. Panattoni has topped PropertyEU’s ranking to secure the title of Top Logistics Developer. The survey ranks the largest European developers according to the amount of warehouse space they build. This year’s list covers the period from 2018 to 2020. During this time, Panattoni delivered to the European markets as much as 69 million sq ft. Robert Dobrzycki, the CEO of Panattoni, said: “Earning the title of the largest developer in Europe for the fifth year in a row shows that our company has clearly been strengthening its position on the European market. It confirms that the development directions we have adopted were obviously the right ones. “A major part in this has been played by the growth of e-commerce, which the Covid-19 pandemic has accelerated even further. Automated centres built for this sector already account for 35% of all our projects. The number of ‘last mile’ city parks we have developed in Germany, the UK and Poland is also growing,” he said. “Around 25% of all our projects are highly technologically advanced production facilities. Panattoni specialises in the construction of this type of facility, tailored for a specific client. The disruption to supply chains caused by the pandemic has been leading many companies to consider relocating their manufacturing businesses or parts of them to Europe to be closer to their customers. The Central European markets in which we operate can only benefit from this.” It is not only through an accurate analysis of the market trends that Panattoni’s success has been achieved. The company’s growth has also been fostered by its decision to implement a sustainable development strategy, which has put it at the cutting edge of the environmental changes in the sector. As standard, the company provides warehouse and production facilities with environmental solutions that help to reduce CO2 emissions as well as energy and water consumption, while improving the well-being of the buildings’ eventual employees. The effectiveness of these measures is also confirmed by the company’s policy of obtaining BREEAM certification for each project. In an era when combating climate change is of paramount importance, such an approach is entirely in tune with the expectations of clients. In its more than 15 years of activity on the European market, Panattoni has completed projects with a combined area of ​​more than 129 million sq ft. These include both BTS production facilities and more than 2,152,782 sq ft of specialised centres designed for major e-commerce players. The developer also provides a variety of space in its own parks in logistically attractive locations, including in cities. Panattoni is currently active in, among other markets, the UK, Poland, Germany, the Czech Republic, Slovakia, Spain and the Netherlands. To view the full article, click here

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Works to Start on New Development in Retford

Works to Start on New Development in Retford

Construction works on a new £19m residential scheme in Nottinghamshire are set to commence in summer 2021, led by property developer Taggart Homes. Located in the old market town of Retford, in north Nottinghamshire, the development known as ‘Bracken Lane’ will consist of 71 two, three, four and five-bed properties ranging from £195,000 to £475,000. Due for works to complete in winter 2022, the new homes will comprise different property types including detached and semi-detached – all finished to the finest quality with high specification fixtures and fittings throughout, as well as landscaped gardens; as is typical from leading home builder, Taggart Homes. Properties will appeal to a varied demographic including first time buyers, downsizers and families. The Bracken Lane development lies within walking distance of the historical market town of Retford – a desirable location offering a range of amenities including a town centre and an array of high street shops and independent bars, pubs and restaurants. Situated on the northern side of Bracken Lane to the south east of Retford, homes will be partially enclosed by established mixed native hedgerows and mature trees, with accessible links to local transport routes such as Retford train station and the A1 motorway nearby. The scheme also sits adjacent to a primary school, and is within the catchment area for a number of sought-after primary and secondary schools, in the vicinity. Located in the Bassetlaw area of Nottinghamshire, secondary schools in Retford have also benefitted from a major overhaul which involved moving to new facilities built around the town under Bassetlaw District Council’s Transform Schools scheme – which included Retford Post-16 Centre which provides vocational, technical and higher education courses to students. Further afield, the development will offer easy access to beauty spots and places of interest such as Idle Valley Nature Reserve less than four miles away, Retford Golf Club just over two miles away and cities including Lincoln, Nottingham and Sheffield all fewer than 35 miles away, with frequent rail connections to each.

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Experts Predict Future Housing Trends

Experts Predict Future Housing Trends

House prices have continued to soar in April, up 1.4% from March and 8.2% YTD to an average of £258,204, according to the latest Halifax index, with no sign of slowing down any time soon. With that in mind, experts at Money.co.uk have offered their expertise answering some of the most important questions. Why have house prices risen so much? Here are a few reasons that could have led to a soar in house prices: The stamp duty holiday extension Low-interest rates The desire to move to a new house which has also been fuelled by the pandemic The desire to live out of a city, in a larger home for a similar price In lockdown, a lot of people were able to save money and are now in a position to buy a new home What impact did the stamp duty have? After Chancellor Rishi Sunak brought in a temporary holiday to stamp duty fees last summer, to give the housing market a boost, this led to a huge increase in UK house sales and has been a major factor in pushing people to act – even though the £15,000 saving has been more than swallowed up by house price increases since it was introduced. What has happened to house prices in the past year? House prices have been steadily rising for the past year, with only a small dip at the start of 2021 when the stamp duty holiday was expected to end. There are several house price indices produced by different organisations. They use different factors when assessing house prices in the UK and therefore it’s worth looking at all of them to get the full picture on prices. The following organisations can offer you an insight into house price indices: Halifax, Nationwide, The Land Registry and Zoopla. Will house prices keep rising? The data from Halifax today predicts that prices will continue to rise for the next few months but at some point this year will begin to slow down, at the point when the government’s furlough scheme comes to an end. However, the pandemic has shown us that nothing is ever set in stone and therefore the outlook remains cautious for the housing market. “We expect the market to remain strong at least until the end of the year, with prices supported by a severe shortage of homes for sale and people wanting to make a move and get on with their lives as the pandemic finally recedes and life returns to normal,” said Mike Scott, chief analyst at estate agency Yopa.

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