The latest research from HouseScan has revealed that just 6.9% of all homes sold in Britain over the last year came via the new build sector, however, new build sales have driven the market to a greater extent across a number of locations. Since March of last year, 54,176 new
The latest research from new build snagging experts, HouseScan, suggests that while there are currently 294,900 homes currently in the planning permission pipeline, an estimated 289,002 of these will reach the market with snagging issues. HouseScan’s analysis of Gov.uk data on the number of housing units to have been granted
The latest research from Warwick Estates has revealed which pockets of the national new build market still offer homebuyers the opportunity of a stamp duty saving right up until the final September deadline. While the initial stamp duty holiday for homes valued up to £500,000 has now passed, homebuyers purchasing
The latest research from Warwick Estates has revealed that just one of Britain’s biggest housebuilders has seen an increase in both revenue and homes delivered to the market during a tough year overshadowed by COVID-19. Warwick Estates analysed eight of Britain’s biggest housebuilders based on the latest data available on
FHP Property Consultants have been instructed to sell a residential site of 1.5 acres fronting Melton Road in Edwalton which has an outline planning consent for nine large houses. “Many people will know this site as ‘the Xmas tree site’ on Melton Road, as many have bought their Christmas trees
Keepmoat Homes continues to grow its development portfolio in the North West after acquiring three new land deals that will see the top ten UK housebuilder deliver 723 new homes, with a combined Gross Development Value (GDV) of £135m. The sites are located in Leyland, Accrington and Stoke on Trent
The show home at ‘The Yacht Club’ – an exclusive residential development on the banks of the River Trent, is now open to give prospective buyers a glimpse at the luxury waterside lifestyle on offer. The scheme, by Leeds-based developer KMRE Group Ltd, comprises 81 one, two and three-bedroom apartments,
Caddick Construction is making strong progress on the delivery of 25 exclusive properties at Windermere Marina Village, with the structure of the buildings now complete. The development will provide 23 luxury apartments over four-storeys and two townhouses, all offering a waterfront view. Built in locally sourced stone and slate, they
Open Letter from Residential Property Industry urges the use of the UPRN across the Sector Leading residential property bodies have today published an open letter to Robert Jenrick, Secretary of State for Housing, Communities and Local Government (MHCLG) and copied to Thalia Baldwin, Director of the Geospatial Commission highlighting the
New SCAPE research finds just one in five people believe developers will deliver on their commitments to improving local communities Half of UK residents can’t think of a local construction project that has had a positive impact on their community Insight features in new report on the evolution of social value by the UK’s leading public sector procurement authority The property industry must do more
The latest research from HouseScan has revealed that just 6.9% of all homes sold in Britain over the last year came via the new build sector, however, new build sales have driven the market to a greater extent across a number of locations. Since March of last year, 54,176 new build homes have been sold across Britain, accounting for 6.9% of all transactions during this period. Scotland has seen the greatest level of new builds sold as a proportion of total transactions, with 9.3% of all homes sold in the last 12 months coming via the sector. London has also seen some of the largest levels of transactions come via new build homes (8.8%), with the East Midlands (7.2%), West Midlands (7%), North East (6.9%) and South East (6.5%) also sitting above the national average. At local authority level, Scotland and London continue to rank with some of the highest levels of new build sales. Tower Hamlets has seen the most new build homes sold as a percentage of all transactions across Britain over the last year. The 991 new homes sold since March 2020 equate to 39.9% of all properties sold in the borough, closely followed by Newham where 33.4% of all transactions have been new builds. Scotland’s East Lothian (25.2%) and Midlothian (21.4%) also rank within the top five, along with Harborough in Leicestershire (20.9%). Greenwich (20.8%), Rugby (19.1%), South Derbyshire (18.5%), Hackney (17.6%) and Bracknell Forest (16.8%) also rank as some of the hottest spots for new build sales in the last year. Founder and Managing Director of HouseScan, Harry Yates, commented: “It seems as though Scotland is fast becoming Britain’s new build hotspot, with more transactions coming via the sector than anywhere else in the nation – including London. This demand has caused new build house price growth north of the border to climb considerably and although a buoyant new build market is unlikely to ease the pain of an early Euros exit, it’s certainly helping to lay some strong foundations for future generations of homebuyers.” Table shows new build transactions over the last 12 months as what percentage of total transactions they account for Location New build sales volume NB sales vol as % of all Scotland 8,432 9.3% London 6,337 8.8% East Midlands 4,383 7.2% East of England 5,621 7.0% West Midlands Region 4,457 7.0% North East 2,188 6.9% South East 7,913 6.5% North West 5,323 6.0% Yorkshire and The Humber 3,910 5.8% South West 4,545 5.7% Wales 1,067 3.2% England 44,677 6.7% Great Britain 54,176 6.9% New build sales volumes sourced from the Gov.uk UK House Price Index – New build vs Existing (March 2020 to Feb 2021 – latest available data) Table shows the areas to have seen the largest number of new build transactions as a percentage of all transactions in the last 12 months Location New build sales volume NB sales vol as % of all Tower Hamlets 991 39.9% Newham 584 33.4% East Lothian 526 25.2% Midlothian 365 21.4% Harborough 331 20.9% Greenwich 512 20.8% Rugby 309 19.1% South Derbyshire 297 18.5% Hackney 291 17.6% Bracknell Forest 293 16.8% Wokingham 392 16.8% West Lothian 479 15.9% City of Peterborough 354 15.3% Central Bedfordshire 665 15.2% Stratford-on-Avon 286 14.8% New build sales volumes sourced from the Gov.uk UK House Price Index – New build vs Existing (March 2020 to Feb 2021 – latest available data)
The latest research from new build snagging experts, HouseScan, suggests that while there are currently 294,900 homes currently in the planning permission pipeline, an estimated 289,002 of these will reach the market with snagging issues. HouseScan’s analysis of Gov.uk data on the number of housing units to have been granted planning permission shows that planning permission approvals have fallen by -6.4% year on year. While there remain almost 300,000 new homes in the pipeline, HouseScan’s research also suggests that the vast majority of these will reach the market in an unsuitable state, with some form of snagging defect. It’s estimated just two per cent of all new build homes reach the market snag-free and this issue is predictably at its worst in the capital. Across London, there are some 52,300 homes waiting to be built having been granted permission, accounting for 18% of all approvals across England. However, with just two per cent predicted to reach the market in a suitable condition, HouseScan’s research shows that as many as 51,254 new homes yet to be built within the capital will have some form of snagging defect. If they were to reach the market today, that’s nearly £27bn worth of property that would need further work. With 43,200 housing units granted planning permission in the South East, it ranks as the region with the next largest level of homes reaching the market with snagging issues (42,336). The North West (39,592), East of England (34,790), East Midlands (30,380) and West Midlands (29,302) are also predicted to see some of the largest numbers of homes reach the market with snagging defects based on current planning permissions granted. In total across England, over £100bn worth of new homes that are still yet to be built will be sold with snagging issues, and that’s based on today’s market values alone. Founder and Managing Director of HouseScan, Harry Yates, commented: “Unfortunately there’s an incredible number of new homes purchased every year that come complete with a number of snagging issues and these issues can range from something minor such as the poor fitting of light switches or plug sockets, to something as serious as subsidence or other structural instabilities. It may seem unfair to tarnish housebuilder outputs by using the law of averages, but to say that just two per cent of new builds are sold snag-free really is the reality. In addition, it’s the new build process that allows these issues by using similar practices, to begin with, with inspectors often passing off the standard of an entire development based on inspecting just one single home within it. Of course, our research has focussed on planning permissions and so it remains to be seen as to whether this level of homes will be riddled with snagging defects or not. However, we wanted to highlight this severe problem within the industry as a wake-up call so that those delivering this pipeline of property stock can address the issue now and prove us wrong.” Number of housing units granted planning permission Category 2017 Q1 (year to) 2018 Q1 (year to) 2019 Q1 (year to) 2020 Q1 (year to) 2021 Q1 (year to) ENGLAND – rolling annual total 329,000 314,000 327,000 315,000 294,900 % change vs previous year 22% -4.6% 4.1% -3.7% -6.4% Source Gov.uk – Planning Applications in England Table shows the number of housing units granted planning permission that are estimated to reach the market with snagging issues Region Planning permissions granted % proportion of England total Est number to be delivered with snags Current Average house price Total value of houses with snags London 52,300 18% 51,254 £525,927 £26,955,881,945 South East 43,200 15% 42,336 £420,199 £17,789,525,656 North West 40,400 14% 39,592 £262,731 £10,402,042,509 East of England 35,500 12% 34,790 £404,852 £14,084,803,846 East Midlands 31,000 11% 30,380 £302,701 £9,196,058,911 West Midlands region 29,900 10% 29,302 £305,790 £8,960,264,736 South West 27,100 9% 26,558 £348,888 £9,265,763,685 Yorkshire and the Humber 22,700 8% 22,246 £243,791 £5,423,383,062 North East 12,100 4% 11,858 £217,985 £2,584,870,008 National Parks 700 0% 686 N/A N/A England 294,900 100% 289,002 £348,298 £100,658,891,685 Sources Gov.uk – Planning Applications in England Home Builders Federation Gov.uk – UK house Price Index
The latest research from Warwick Estates has revealed which pockets of the national new build market still offer homebuyers the opportunity of a stamp duty saving right up until the final September deadline. While the initial stamp duty holiday for homes valued up to £500,000 has now passed, homebuyers purchasing up to the sum of £250,000 will still pay no stamp duty right up until the end of September. However, it’s no secret that the new build market carries a property price premium compared to existing homes. In fact, the average new build house price is currently £348,298 in England, 30% higher than the average price for an existing property. This would suggest that the average new build homebuyer may find it tricky to find a property that sits below the current and final stamp duty holiday threshold and at a regional level this may be the case. Just two regions are currently home to an average new build house price below £250,000, the North East (£217,985) and Yorkshire and the Humber (243,791). However, when analysing the market at local authority level, Warwick Estates found that there is still some hope. In fact, 23% of local authority districts in England are home to a new build average house price that still sits below £250,000. You can see the full table below but the list includes areas from all over England including Northumberland, Plymouth, Great Yarmouth, Manchester, Ipswich, West Devon, Lancaster, Southampton, Liverpool, Scarborough, Norwich, Nottingham, Bradford, Gateshead and Stoke. COO of Warwick Estates, Bethan Griffiths, commented: “New build homes will always attract a premium when compared to the wider market and so those looking to climb the new build ladder will always need a little more in the savings pot. However, there seems to be a common misconception that new build homes are vastly unaffordable but as the figures show, the average new build home costs less than £250,000 across nearly a quarter of all areas in England. So not only can a new build home be purchased at a relatively affordable price point, but those currently in the market for one have a good chance of still securing a stamp duty free sale.” Location Average New Build House Price England £348,298 East Midlands £302,701 East of England £404,852 London £525,927 North East £217,985 North West £262,731 South East £420,199 South West £348,888 West Midlands Region £305,790 Yorkshire and The Humber £243,791 Data sourced from the Gov.uk – UK House Price Index (New Build vs Existing). March 2021 – latest available data. Table shows the areas of England where the current average new build house price is still below £250,000 Location Average New Build House Price Northumberland £246,397 Fenland £245,637 City of Plymouth £243,533 Great Yarmouth £241,469 Manchester £239,678 Telford and Wrekin £238,884 Ipswich £238,831 West Devon £238,777 Allerdale £238,665 Newark and Sherwood £238,329 Knowsley £237,455 Sandwell £236,847 Tameside £234,525 Tamworth £233,614 Rotherham £233,322 Wolverhampton £233,189 Lancaster £231,215 Torbay £231,043 Southampton £230,143 Salford £229,586 Kirklees £229,494 North East Lincolnshire £228,064 Eden £226,530 St Helens £225,820 Liverpool £225,450 Broxtowe £224,828 Rochdale £224,768 Erewash £224,701 Oldham £223,654 Wakefield £221,607 Scarborough £220,679 Walsall £219,680 Ashfield £219,404 South Tyneside £218,370 Norwich £217,586 Sefton £217,305 Middlesbrough £215,115 Sheffield £214,295 City of Nottingham £213,251 City of Derby £213,168 Sunderland £212,758 Bolsover £209,730 Wyre £209,356 North Lincolnshire £209,066 Carlisle £206,690 Bassetlaw £206,421 Bradford £205,342 Blackburn with Darwen £201,666 Darlington £201,116 Mansfield £200,151 Redcar and Cleveland £200,115 West Lindsey £197,991 Boston £197,314 Bolton £197,074 South Holland £194,183 Newcastle-under-Lyme £193,940 Wirral £191,211 East Lindsey £190,763 Barrow-in-Furness £190,762 City of Kingston upon Hull £189,873 Gateshead £187,368 Pendle £185,122 Doncaster £183,153 Copeland £181,950 Stoke-on-Trent £181,278 Lincoln £181,066 Barnsley £179,817 County Durham £169,866 Hartlepool £166,313 Stockton-on-Tees £163,047 Blackpool £162,375 Burnley £134,834 Hyndburn £105,888 Data sourced from the Gov.uk – UK House Price Index (New Build vs Existing). March 2021 – latest available data.
The latest research from Warwick Estates has revealed that just one of Britain’s biggest housebuilders has seen an increase in both revenue and homes delivered to the market during a tough year overshadowed by COVID-19. Warwick Estates analysed eight of Britain’s biggest housebuilders based on the latest data available on revenues and how they performed in 2020 when compared to 2019. Homes built Where the number of homes delivered is concerned, just one managed to go above and beyond their pre-Covid performance in 2020. Vistry Group built 6,131 homes in 2020, 59% more than the previous year. However, it was Persimmon that delivered the most homes in total at 13,575 although this was 14% less than the previous year. Barrat also delivered 12,604 homes to the market despite seeing a 29% drop compared to 2019, with Bellway seeing a 9% year on year decline despite building 11,921 homes. Taylor Wimpey endured the biggest decline in the number of homes built during the pandemic. The 9,799 built in 2020 resulted in a 39% year on year drop when compared to their pre-pandemic performance. Revenues Vistry Group’s positive pandemic performance means the housebuilder enjoyed a 79% uplift in revenues in 2020 – the only housebuilder to see positive movement. Unfortunately for Redrow, the housebuilder saw a 37% drop in revenues, the biggest drop of the lot as a result of the pandemic. COO of Warwick Estates, Bethan Griffiths, commented: “Despite the residential property market rebounding at an alarming rate since the launch of the stamp duty holiday, the pandemic has been problematic for the nation’s housebuilders, to say the least. As a result of ongoing and ever-changing restrictions, the vast majority have seen a decline in the number of homes built and the knock-on effect this has had on revenues. However, now that we are working our way back to some form of total normality, we expect these vital cogs of the property market to dust themselves down, roll up their sleeves and bounce back.” Developer Total homes built (2019) Total homes built (2020) Annual change (%) Annual revenue £m (2019) Annual revenue £m (2020) Annual change (%) Sources Vistry Group 3,867 6,131 59% £1,137 £2,040 79% Link Persimmon 15,855 13,575 -14% £3,650 £3,330 -9% Link Barratt 17,856 12,604 -29% £4,763 £3,419 -28% Link Countryside 5,733 4,053 -29% £1,423 £989 -31% Link Bellway 13,113 11,921 -9% £3,213 £2,225 -31% Link Berkeley 3,698 2,723 -26% £2,957 £1,920 -35% Link Taylor Wimpey 16,042 9,799 -39% £4,341 £2,790 -36% Link Redrow 6,443 4,032 -37% £2,112 £1,339 -37% Link
FHP Property Consultants have been instructed to sell a residential site of 1.5 acres fronting Melton Road in Edwalton which has an outline planning consent for nine large houses. “Many people will know this site as ‘the Xmas tree site’ on Melton Road, as many have bought their Christmas trees from the site over the years,” said David Hargreaves joint founder of FHP who is handling the sale. In addition to the 0.9-acre field, there is a four-bed bungalow which sits on a further 0.6-acre site. “The site has outline planning consent for nine executive homes of 2,500 sq. ft, which, with sales prices of up to £450 per sq. ft in the area, should attract prices of £1 million to £1.2 million each. Adjacent to the site, FHP Living have sold four properties for £1 million each,” added Jules Hunt of FHP Living. The residential site sits across the road from the site where Guy Phoenix developed two ultra-luxury homes at prices of £4 million and £7 million. Hargreaves confirmed that offers in the region of £3 million are required for the site, with very strong early interest. Although the planning consent is for nine houses, the site could suit three very large homes, an apartment scheme, or a care home or ‘later living’ development.
Keepmoat Homes continues to grow its development portfolio in the North West after acquiring three new land deals that will see the top ten UK housebuilder deliver 723 new homes, with a combined Gross Development Value (GDV) of £135m. The sites are located in Leyland, Accrington and Stoke on Trent and have all obtained planning approval from local authorities. The three schemes are: A 520-plot development Farington Mews, Leyland A 157-plot development at Biddulph, Stoke on Trent A 46-plot development Acorn View, Accrington The developments will offer two, three and four bedroom homes which will be available in multiple house types and various purchasing options from open market sale to shared ownership. Homebuyers will also be able to benefit from the Government-backed mortgage guarantee, allowing first-time and current homeowners to obtain a 95% mortgage from lenders. Gareth Owen, Land & Partnerships Director at Keepmoat Homes, said: “Our team has been working hard over the 6 months with local authorties and registered providers and the latest acquisitions are a testament to their efforts. We’re delighted to have aquired these three significant sites, all in ideal locations, which brings our total of active developments in the North West to 15. “As a business, our ethos is to not just build homes, but transform communities and improve the lives of local people. We’re driven to deliver increasingly sustainable and affordable homes and we’re taking action to reduce carbon emissions from our operations, our supply chain and the homes we build and adapt our operations and homes to our changing climate. Our Acorn View development in Accrington will feature car charging points for those with electric vehicles at each of the homes and we take pride in providing green open spaces for both residents and the local community to enjoy. “We can see from our existing developments, across the North West in particular, that demand for new homes is increasing and following these successes, we’re driven to remain active across the region and are seeking new land opportunities for residential led developments.”
The show home at ‘The Yacht Club’ – an exclusive residential development on the banks of the River Trent, is now open to give prospective buyers a glimpse at the luxury waterside lifestyle on offer. The scheme, by Leeds-based developer KMRE Group Ltd, comprises 81 one, two and three-bedroom apartments, including penthouses, with prices starting from £250,000 to £800,000. Situated in a prime waterside location to the south of Trent Lane, The Yacht Club will offer residents panoramic views of the river and The Hook nature reserve in Lady Bay. Following the government’s budget announcement at the beginning of March, the stamp duty holiday has now been extended until the end of June for homes under the value of £500,000, and until the end of September for homes under £250,000 – presenting house hunters with considerable potential saving opportunities for any property purchases in the coming months. Prospective homebuyers can also take advantage of the return of 95% mortgage schemes, which started at the beginning of April – allowing buyers to put down a deposit of just 5% on the home of their choice. FHP Living has been appointed as the selling agent for The Yacht Club development and interested parties can contact Steve Parker on 0115 841 1155 for information and viewings. With all south-facing apartments featuring either a large balcony or terrace overlooking the River Trent, including on the lower floors – the development boasts majestic waterside vistas in tranquil surroundings, with the green landscape from The Hook nature reserve located just over the river, and Colwick Country Park less than half a mile away. Designated as a Local Nature Reserve in 2009, The Hook is home to abundant wildlife, an orchard and wildflower meadows, providing The Yacht Club with stunning, uninterrupted views. The location also benefits from no passing traffic, except that of boats, rowers and paddle boarders along the river. The scheme boasts high spec fixtures and fittings throughout including Italian-style kitchens, AEG appliances, underfloor heating, resident parking and picturesque outdoor communal spaces for residents to enjoy, in its prime location. Just a mile away from the vibrant and chic West Bridgford, it is close to a host of independent shops, bars and restaurants, as well as the world-renowned Trent Bridge Cricket Ground, Nottingham Forest FC’s City Ground and Notts County FC’s Meadow Lane stadium. The Yacht Club sits close to a number of waterside developments transforming the banks of the River Trent, becoming known as Riverside – and plans have been put forward for a pedestrian footbridge to be built over the river in the next couple of years, to cater to the burgeoning waterside residential communities. In close proximity to Nottingham train station and the city centre – less than two miles away – the luxury development will provide residents with access to Nottingham’s prime retail and cultural amenities, with the likes of John Lewis, Flannels, Paul Smith, Vivienne Westwood and Ted Baker among the high street stores. As well as two world-class universities and major employers such as Boots, Experian and E.ON being based in the area – the historic Nottingham Castle, Victorian Lace Market district and 19th Century Arboretum park and gardens make up some of the city’s best points of interest and unique and quirky attractions. The show suite is now available for private viewings, enabling professionals, couples, families and downsizers the chance to peek into the exclusive riverside lifestyle that The Yacht Club has to offer. It will also provide the first opportunity for confirmed buyers to personalise and upgrade apartments – with bespoke options to choose from for interior décor, fixtures and fittings. Kam Mogul, managing director at KMRE Group Ltd, said: “We are extremely proud to be delivering this unique flagship residential scheme, providing the finest quality spacious homes, with unrivalled views of the River Trent, in an idyllic waterside location, that really provides a tranquil oasis for residents. “With excellent transport links, local amenities on your doorstep and quality living spaces, The Yacht Club offers residents a luxury lifestyle, with a tranquil setting and picturesque views over the water. This is the first of our landmark ‘Southern Gateway’ developments in Nottingham, which also include the 62-apartment Hindle House residential scheme.” Steve Parker, director at the selling agent, FHP Living, said: “The central, yet serene location of The Yacht Club makes it a truly idyllic place to live alongside the river. “As the area’s residential riverside communities continue to grow, Nottingham is experiencing an influx of people moving to the city from areas including London, as many look for a fresh start following lockdown. The stamp duty holiday extension and the introduction of 95% mortgage schemes have also been welcomed by the housing sector, as they are great incentives for those looking to move to a new home and take advantage of the potential savings in the process. “We have had a great deal of interest in The Yacht Club so far, with 40% of the properties already sold, so we’d urge anyone keen to view the show home to act quickly and register interest.” Construction works at The Yacht Club involve a phased completion, with the first practical completion in June 2021, and a full handover of the site expected in July 2021.
Caddick Construction is making strong progress on the delivery of 25 exclusive properties at Windermere Marina Village, with the structure of the buildings now complete. The development will provide 23 luxury apartments over four-storeys and two townhouses, all offering a waterfront view. Built in locally sourced stone and slate, they surround the modern 400 berth marina with its popular Boathouse Bar and Restaurant. Derek Billows from Caddick Construction said: “We are making great progress on site and will complete this luxury development towards the end of this year. With many of the properties already sold off plan, it will bring a welcome boost to the local economy.” Windermere Marina Village is less than a mile to the south of Bowness on Windermere with easy access to the southern Lake District. A popular holiday destination, the village offers a variety of holiday lettings in apartments, townhouses and boathouses. Jason Dearden, Managing Director of Windermere Marina Ltd, said: “Windermere Marina is a vital part of the local tourism sector. Delivering more homes here will further boost the local economy and create even more vitality at this popular destination. The development is of the highest specification and has proved hugely popular, I suspect we may sell all of the properties before they complete at the end of the year.” The project further strengthens Caddick Constructions Kendal office, which recently completed the Furness Peninsula Blue Light Hub project at Ulverston, Gateway 44 Retail Park in Carlisle and a variety of luxury car dealerships across Cumbria.
Open Letter from Residential Property Industry urges the use of the UPRN across the Sector Leading residential property bodies have today published an open letter to Robert Jenrick, Secretary of State for Housing, Communities and Local Government (MHCLG) and copied to Thalia Baldwin, Director of the Geospatial Commission highlighting the potential benefits from a widely adopted Unique Property Reference Number (UPRN) and steps that Government needs to take to make this happen. The signatories of the letter, which includes leading bodies from across the residential property sector, believe that the wide market adoption of the UPRN will deliver substantial benefits to UK society, the residential property sector, and to Government. Andrew Bulmer, CEO of IRPM comments: “The UPRN is like attaching a number plate to a car, instead we attach a unique number (up to 12-digits) to all things related to properties (fittings, fixtures, paperwork, surveys etc), so that each property can be uniquely identified with unparalleled accuracy. If all the conditions outlined in the letter were to be met, we could proactively work towards the wholesale adoption of the UPRN. Implemented effectively, this could help position the UK as the world’s leading property market”. Dan Hughes, Founder of Alpha Property Insight and the Real Estate Data Foundation noted that; “The property sector is at the heart of the economy, people’s wellbeing and our impact on the environment. There are huge opportunities for technology to help with improving every aspect of this, but to do so requires the effective use of data. The wide adoption of the UPRN would be a big step towards providing the foundations to enable this.” Theresa Wallace, Founder of The Lettings Industry Council (TLIC), notes that “widespread adoption of UPRN’s could revolutionise the property market, this is a really exciting initiative which has industry support and we now need the Government to add theirs.” The letter details the benefits of widespread market adoption of the UPRN to society, the economy, and the property sector. These include: Improved building, consumer, and market safety More targeted and cost-effective enforcement of legislation Increased protection for tenants and a reduction of rogue landlords The ability to speed up conveyancing and transparency in home buying and selling The opportunity to reduce waste, save time and empower the consumer However, the letter also calls for steps by Government and for certain conditions to be met to really enable these benefits: All public sector data sets relating to properties and buildings should include the UPRN and a clear roadmap is needed to get to this point All future Government tenders and policy relating to residential properties and associated data should mandate the use of the UPRN There must be clear agreement about the ethical use of data in the housing market The UPRN must be in a clear and useable format that allows the UPRN to be widely identified, and freely used and shared This must include the tools, the support materials and the explanation needed by the whole sector for adoption, not just the solution providers Following the profound findings in the RoPA report, that outlines the phenomenal need for compliance within the property agents’ sector, Lord Best states that “the UPRN is an excellent concept and could be a game-changer.” The impact of the universal adoption of the UPRN can be immense, The National Trading Standards Estate and Letting Agents Team (NTSELAT) explain that, “the widespread use of a Unique Property Reference Number (UPRN) has the potential to deliver many benefits across the residential property market. Importantly, a UPRN can offer tenants a greater level of protection against rogue landlords and help to reduce consumer fraud when buying or renting a home. The NTS Estate and Letting Agency Team supports the work of The Letting Industry Council in driving the adoption of the URPN across the property sector”. A copy of the letter and a full list of signatories is available HERE
New SCAPE research finds just one in five people believe developers will deliver on their commitments to improving local communities Half of UK residents can’t think of a local construction project that has had a positive impact on their community Insight features in new report on the evolution of social value by the UK’s leading public sector procurement authority The property industry must do more to demonstrate the positive impact of construction projects on communities across the UK, according to new research by the UK’s leading public sector procurement authority, SCAPE. In this latest nationwide research, SCAPE found that as few as one in five (20%) people in the UK believe that property developers will deliver against the commitments they make in relation to social value and improving local communities. The research indicates that there is a clear disconnect between the wide-ranging initiatives employed by contractors nationwide to create social value and the general public’s awareness or perception of them. Only half (50%) of the 2,000 UK residents surveyed recognised that a project had contributed positively to their local community. Respondents indicated that delivering long-term community benefit was the most important outcome for any project, ahead of other issues such as a building’s appearance or its green credentials. The research forms part of Social Value: More Than Metrics, a new report by SCAPE thatexplores the evolution of social value in the public sector and the impact that contractors and developers are having on local communities. Despite widespread initiatives across the construction industry in relation to employment, sustainability and social cohesion, many members of the public are still unaware of how projects are being delivered in a way that enriches their community. Only a third (35%) of all respondents had heard of the term ‘social value’ and felt confident that they understand what it means. With the public sector already acting as the cornerstone for the UK’s economic recovery – and set to play an increasingly important role in infrastructure investment as the nation builds back better in 2021 – the report calls for public sector organisations and contractors to aid the public’s understanding of social value. Key recommendations in the report include: Giving social value returns equal if not greater prominence than traditional procurement drivers, such as time, cost and quality Incorporating qualitative feedback procedures, such as interviews with community stakeholders and focus groups, into measurement processes Encouraging ongoing review of the metrics used to measure each project to avoid a ‘cookie cutter’ approach to social value Standardising sustainability measurement to demonstrate benefits with greater ease and consistency Implementing long-term community engagement processes to ensure positive legacies for every project. Mark Robinson, group chief executive at SCAPE, said: “In the seven years since the Social Value Act was passed, the new duties required in procurement have played a valuable role in guiding public bodies and contractors to consider the wider impact of public investment on society. However, as we await the imminent launch of the government’s Construction Playbook – which will increase the focus on socioeconomic improvement – our research shows that work still needs to be done to improve public perception regarding the benefits being created through construction projects. “Whilst the monetisation of social value is important, in many ways, the more important thing is the short and long-term value that one action can set in motion within a community, and how these actions are perceived and received. By shining a light on the public’s understanding and perception of social value, and demonstrating what best-in-class delivery looks like, it is our aim through this report to get to the heart of these issues and drive positive, sustainable change within communities.”
