Residential : Housing News News
Plans approved for Harlow council homes

Plans approved for Harlow council homes

Plans to develop over 20 high-quality, energy-efficient council homes on a derelict site on Perry Road in Staple Tye, Harlow, have been given the go-ahead. The proposals were submitted by The Harlow Regeneration Partnership (HRP), an equal partnership between Harlow Council and award-winning housebuilder The Hill Group. The plans form

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Buy-to-let landlords reduce borrowing amidst rising rates

Buy-to-let landlords reduce borrowing amidst rising rates

The nation’s landlords are responding to higher levels of mortgage interest rates by cutting down on their borrowing. The research comes from specialist property lending experts, Octane Capital, which compared the total amount of borrowing amongst buy-to-let landlords between Q3 2022 and Q2 2023 and the corresponding period the year

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The Hill Group submits plans for Bristol homes

The Hill Group submits plans for Bristol homes

Housebuilder The Hill Group has submitted plans for the Amerind Grove site on Raleigh Road in Bristol, which was once the site of the Wills Tobacco Factory, to develop over 100 high-quality, sustainable new homes. Hill will deliver three, four, and five-bedroom family houses, as well as one and two-bedroom

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Mayor celebrates start of Rossington development

Mayor celebrates start of Rossington development

The Civic Mayor of Doncaster, Councillor Duncan Anderson, recently attended the official ground-breaking ceremony for De Maulay Manor, Harron Homes’ newest development in New Rossington, Doncaster. De Maulay Manor will offer 105 high-specification homes on a 12-acre site, with two showhomes anticipated by March 2024, and the first residents expected

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New scheme from Sussex housebuilder turns renters into buyers

New scheme from Sussex housebuilder turns renters into buyers

Sussex housebuilder Barratt David Wilson Southern Counties is launching an innovative new scheme to turn renters into buyers by helping them build the deposit they need to buy whilst allowing them to live in their dream new home. The new scheme, called Rent then Buy, will allow qualifying first time

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London market turns corner following mini budget downturn

London market turns corner following mini budget downturn

The latest research from London’s largest lettings and sales estate agent, Foxtons, has revealed that just over a year on from the mini budget responsible for the declining health of the property market, the capital has turned a corner, with an uplift in activity helping to restimulate the market.  The

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Final Phase of Addington Capital’s Headingley Park Gets Underway - 70 Additional Residential Units To Rent at “Best Place to Live in Leeds

Final Phase of Addington Capital’s Headingley Park Gets Underway- 70 Additional Residential Units To Rent at “Best Place to Live in Leeds”

Scheme Will Complete Conversion of Office Park to 100% Residential Under PDR Addington Capital, the property investment and asset management specialist and its investor partner ICG have started work on the final phase of their Headingley Park residential scheme. An additional 70 new residential units will be created at Stockdale

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Latest Issue
Issue 323 : Dec 2024

Residential : Housing News News

Plans approved for Harlow council homes

Plans approved for Harlow council homes

Plans to develop over 20 high-quality, energy-efficient council homes on a derelict site on Perry Road in Staple Tye, Harlow, have been given the go-ahead. The proposals were submitted by The Harlow Regeneration Partnership (HRP), an equal partnership between Harlow Council and award-winning housebuilder The Hill Group. The plans form part of the council’s priorities to rebuild the town and improve housing stock in the surrounding area. The HRP received unanimous approval from Harlow’s Development Management Committee for the redevelopment of the former Lister House site, which becomes the first to be delivered by the partnership. Councillor Michael Hardware, Harlow Council’s cabinet portfolio holder for economic development, said: “Not only will this development deliver much-needed homes for Harlow residents, but it will also contribute to the regeneration and renewal of Staple Tye. The former Lister House site has been sitting derelict for far too long and now I am pleased to say we can get on with the job of rebuilding this area of Staple Tye. “These high-quality apartments will be some of the most energy-efficient homes in Harlow and they will all be delivered by the Harlow Regeneration Partnership, which was only recently launched to accelerate the rebuild of our town. We look forward to working with The Hill Group on this development.” Tom Hill, Managing Director at The Hill Group, said: “We are delighted to receive planning approval for our first site in partnership with Harlow Council, contributing to the regeneration of the town’s housing. This first exciting development is just the beginning for the Harlow Regeneration Partnership, and we look forward, not only to starting on site at Perry Road but to delivering many more high-quality, genuinely affordable, sustainable homes for Harlow’s communities in the future.” The development will include four one-bedroom apartments and 20 two-bedroom apartments, with commercial space on the ground floor. Each home will have access to electrical vehicle charging points, and the plans include an allocation of 24 car parking spaces and 32 cycle spaces, with a further four car parking spaces and 10 cycle spaces for commercial use. The gas-free development will feature photovoltaic panels installed on the roof, and heating and hot water will be provided via air-source heat pumps, helping residents keep their electricity bills low. Biodiversity at the Perry Road site will be carefully managed through the planting of new trees, and there will be attractively landscaped areas situated around the development. Hill will take possession of the Perry Road site in November 2023, with work due to begin in Spring 2024. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Buy-to-let landlords reduce borrowing amidst rising rates

Buy-to-let landlords reduce borrowing amidst rising rates

The nation’s landlords are responding to higher levels of mortgage interest rates by cutting down on their borrowing. The research comes from specialist property lending experts, Octane Capital, which compared the total amount of borrowing amongst buy-to-let landlords between Q3 2022 and Q2 2023 and the corresponding period the year before. It found that buy-to-let landlords reduced their borrowing by around £7 billion over that timespan, from £37.9 billion in 2021-2022 to £30.4 billion in 2022-2023. In terms of a percentage change, this means that buy-to-let landlords collectively reduced their borrowing by -19.8% in just a single year. A period in flux It’s no wonder that landlords have looked to reduce their exposure to the mortgage market, given how the Bank of England base rate has shifted over that period. At the start of December 2021 the base rate stood at 0.1%, while by June 2023 it reached 5.0%. Other unusual events also rocked the markets. In February 2022 Russia would launch its invasion into Ukraine, creating an inflationary effect on the cost of energy, which would filter through to other sectors. Meanwhile September 2022 saw ex-Prime Minister Liz Truss’s ill fated mini-budget, where a selection of uncosted tax cuts served to spook the financial markets, causing mortgage interest rates to surge almost overnight. It’s no wonder that investors have looked to restrain their borrowing in this context. First-time buyers The rest of the market followed a similar trend to buy-to-let, as lending to first-time buyers dropped from £68.1 billion in 2021-2022 to £65.9 billion in 2022-23, a reduction of -3.2%. Meanwhile all other forms of lending fell by -7.6%, from £92.2 billion to £85.2 billion. Remortgage activity rose slightly, from £79.9 billion in 2021-2022 to £81.0 billion in 2022-2023, reflecting how more borrowers consolidated what they had rather than saddling themselves with fresh debt in the form of a new mortgage. CEO of Octane Capital, Jonathan Samuels, commented:  “Landlords are taking fewer risks with their borrowing, which makes sense given how the market has become objectively less attractive in the past couple of years. “No longer are buy-to-let mortgages available for 2-3%, so it’s less economically viable to invest in property on a highly leveraged basis. “Now landlords are in a period where they’re adjusting to a new normal, where they need to be strategic and consider using a larger deposit if they want to continue growing their portfolios.” Data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals 

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The Hill Group submits plans for Bristol homes

The Hill Group submits plans for Bristol homes

Housebuilder The Hill Group has submitted plans for the Amerind Grove site on Raleigh Road in Bristol, which was once the site of the Wills Tobacco Factory, to develop over 100 high-quality, sustainable new homes. Hill will deliver three, four, and five-bedroom family houses, as well as one and two-bedroom apartments and three-bedroom maisonettes, building on its reputation for developing sustainable community-focused residential projects. Approximately one-third (30%) of the homes will be affordable. Hill’s plans will revitalise the 3.5-acre site previously occupied by a care home, significantly increasing housing availability in the popular Southville neighbourhood. Hill has selected a Bristol-based architect to partner with on the design of the homes, drawing on the area’s classic terraced vernacular to create well-appointed, high-quality modern homes. The development will link to the surrounding area by two new tree-lined access roads. Hill has appointed a professional guardian service to provide short-term, affordable accommodation for local people during the planning process. All applicants seeking to be a short-term guardian living at the property will be independently assessed and required to sign a code of conduct. Andy Hill OBE, Group Chief Executive of The Hill Group, commented: “There is an acute housing shortage in Bristol, particularly for family homes. We have worked with the local Southville community to ensure our planning application for the Amerind Grove site will help address local housing needs. It will provide a sustainable development of over 100 high-quality, energy-efficient family homes, including over 30 much-needed affordable homes for local people, and we look forward to working with Bristol City Council to successfully progress this application.” Built with sustainability in mind, the homes at Raleigh Road will feature high levels of insulation and airtightness. The properties will exceed energy regulations through the use of low-carbon technology and energy-efficient design, including air-source heat pumps to provide gas-free heating and hot water. Permeable paving, green roofs, rain gardens, and underground water tanks will also be included within the development to minimise surface water run-off; Hill is committed to environmental conservation and aims to achieve over 20% biodiversity net gain on this development. To encourage sustainable transport and reduce the total number of cars, approximately 185 cycle parking spaces will be provided. The construction phase will also provide local residents with employment and training opportunities. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Mayor celebrates start of Rossington development

Mayor celebrates start of Rossington development

The Civic Mayor of Doncaster, Councillor Duncan Anderson, recently attended the official ground-breaking ceremony for De Maulay Manor, Harron Homes’ newest development in New Rossington, Doncaster. De Maulay Manor will offer 105 high-specification homes on a 12-acre site, with two showhomes anticipated by March 2024, and the first residents expected to have moved in shortly afterwards. Catering to first-time buyers, downsizers, families and couples alike, De Maulay Manor is designed to appeal to everyone. A mix of three, four and five-bedroom homes will make up the development, which will be delivered under new regulations that include enhanced insulation and the installation of air source heat pumps, saving residents money on energy bills while boosting sustainability. In addition, street trees, cycle paths and footpaths will be provided to add a spot of greenery, and bird and bat boxes will help local wildlife flourish in the new environment. These green surroundings will complement the semi-rural setting of the development, which is positioned in close proximity to several scenic country trails and walks. In line with Harron Homes’ fusion of rural and city life, the development will also offer excellent commuter access to the nearby city of Doncaster. Natalie Griffiths, Sales and Marketing Director for Harron Homes North Midlands, said: “We were pleased Councillor Anderson could join us for this significant milestone as we start to lay the foundations for this exciting new development. Investing in local communities is something very important to us at Harron Homes; we look forward to seeing this Doncaster site completed and having our very first residents move in.” Councillor Anderson added, “It was fantastic to visit the site in progress and get a glimpse of the potential of this development. I’m excited to see De Maulay Manor become a brand new addition to the community of New Rossington.” A variety of buying schemes will be available for buyers to take advantage of, including Part Exchange and Home Buyers Schemes which expedite and simplify the moving process for a smooth and stress-free move. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Next Generation home buyers happy to pay more upfront for greener homes and put environmental issues top of the buying agenda

Next Generation home buyers happy to pay more upfront for greener homes and put environmental issues top of the buying agenda

New research from Make UK Modular reveals public backing for greener, more energy efficient homes. Introducing stamp duty incentives for the most energy efficiency homes will ensure the UK is building greener homes for a more sustainable future. Make UK Modular is calling for a radical approach to stamp duty based on a homes’ energy performance as part of a green housing revolution. A new report by Make UK Modular, in partnership with Octopus Energy, reveals overwhelming backing from the British public for more energy efficient homes.The new report Green Shoots: The future of UK housebuilding shows broad public support for homes that are better for the environment and better for the public’s pocket. Research was carried out by Savanta, surveying 2,300 adults in the UK, using a nationally representative sample, asking their views on greener homes and whether they would be prepared to pay for them. Six in ten home renters and buyers said that the environmental impacts of a new home was important to them, demonstrating the public’s desire for new homes to be more environmentally friendly. This was further underlined by 40% of the public saying it would be willing to pay more upfront if their home was environmentally friendly. By aligning to the Prime Minister’s recently announced net zero approach, the proposed measures would not add additional burdens on households, but instead drive energy efficiency in a way that lowers household bills. This desire to have greener, more sustainable homes was even more in evidence among the next generation of home owners and buyers, with 66% of those surveyed aged between 18 and 30 saying it would be willing to pay more for an environmentally friendly home. With energy bills still higher than in previous years, eight in ten members of the public would be willing to pay more for a home if their energy bills were lowered as a result. This received widespread support but again was particularly the case for those aged between 18 and 30. Modular manufacturers can build greener homes at a competitive price, with many modular companies building homes in the top energy performance band, saving the average family up to £1,000 a year on its energy bills. Octopus Energy has even succeeded in providing a Zero BillsTM guarantee for five years on highly energy efficient homes which are fitted with low carbon technologies. The energy supplier is already working with a number of Make UK Modular’s members in a bid to deliver 50,000 of these greener, bill-free properties by 2025. Make UK Modular, the trade body for modular housebuilders, is now calling for a green housing revolution to tackle the housing and climate change crisis together. By taking a modern approach to stamp duty based on energy performance, reforming the Affordable Homes Programme and ensuring the planning process fast-tracks greener house building, the Government would unlock the potential for modular homebuilders to build the greener homes for the future that the public are demanding. Daniel Paterson, Director of Government Affairs at Make UK Modular said: “We are on the cusp of a green housing revolution. This report clearly shows wide public demand for modular building methods that reduce the costs to the environment and to household budgets. We now need to see action on the part of government to allow for these greener homes that not only help reduce the carbon cost of construction but help the household pocket too. Government can help today at zero cost to the Treasury by introducing demand side reforms of stamp duty rates, reforming the Affordable Homes Programme allocation for modular builders, and using unspent pledged funding to help improve supply chains.”     Michael Cottrell, Zero Bills Homes Director at Octopus Energy said       “The evidence is clear to see: greener homes are fast becoming hot property, and modular manufacturers are particularly well placed to deliver the revolution. When powered by Octopus’ industry-leading smart tariffs, these homes have the potential to radically lower energy bills for consumers – in some cases all the way to zero. We’re now calling on developers of all shapes and sizes to help us make greener, bill-free homes the new standard.” Read the report here – Make Modular Green Shoots Reports 2023 | Make UK Building, Design & Construction Magazine | The Choice of Industry Professionals 

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New scheme from Sussex housebuilder turns renters into buyers

New scheme from Sussex housebuilder turns renters into buyers

Sussex housebuilder Barratt David Wilson Southern Counties is launching an innovative new scheme to turn renters into buyers by helping them build the deposit they need to buy whilst allowing them to live in their dream new home. The new scheme, called Rent then Buy, will allow qualifying first time buyers to put down just a 2.5% deposit, exchange contracts and move into their new home straight away. It is being launched initially as a pilot in the Barratt David Wilson Southern Regions across the South East at its Ecclesden Park development in Angmering, Meadowburne Place development in Lower Willingdon and Ryebank Gate in Yapton. Using the scheme buyers can spend six months renting their chosen new home while their monthly payments build their deposit up to 5%. At the end of the six-month rental period, the money they have paid in rent is counted as being the remaining 2.5% of their deposit, and they can then draw down a 95% mortgage and complete the purchase of their new home. Adrian MacDiarmid, Head of Mortgages at Barratt Developments, said. “First time buyers often tell us they can’t save for a deposit because they are already paying “their landlord’s mortgage”. This is why we are launching Rent then Buy to solve that problem for FTBs. The scheme offers an innovative way to speed up the saving process, allowing homebuyers to get started on their new life in one of our beautiful new homes across the South-East.” The new scheme, which will be available at selected homes and developments, is open to first time buyers who are buying a home to live in themselves, have saved a 2.5% deposit and are financially qualified to take out a 95% mortgage. The home they are buying must be priced at no more than £425,000. The process of buying using Rent then Buy is as follows: “With saving for a deposit becoming increasingly difficult and with rents rising fast, Rent then Buy offers homebuyers a chance to seize the moment and lock in the home of their choice,” adds Adrian MacDiarmid. “Instead of paying private rent that eats up all their savings, they can put that money to good use as part of their deposit, all while they are enjoying living in their new home.” For further information about the properties available at Barratt David Wilson Homes’ Ecclesden Park, Meadowburne Place or Ryebank Gate developments, please visit www.dwh.co.uk / www.barratthomes.co.uk or call 0333 355 8498 / 0333 355 8499. Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Zutec Accredited by New Homes Quality Board for its Quality Management Solutions

Zutec Accredited by New Homes Quality Board for its Quality Management Solutions

Leading quality management software provider for housebuilders and developers named as NHQB Accredited Supplier Today, leading construction and quality management software provider, Zutec, announces it has been officially selected by the New Homes Quality Board (NHQB) as an Accredited Supplier. Zutec is one of the first suppliers to offer a full suite of quality management (QM) solutions during the construction phase to housebuilders and developers registered with the NHQB in England, Scotland, and Wales. Zutec’s QM solutions include standardised digital templates for Quality Assurance Inspections, Snagging and Defect Management, Health & Safety Forms, Part L Photographic Evidence and Cladding Remediation.   Established to develop and implement a framework that oversees the quality of new homes and customer service provided by developers, the NHQB works to ensure consistently high standards across the industry. Its framework works to improve developer performance and provides redress for buyers if these standards are not met. NHQB’s Accredited Suppliers are carefully selected to support developers in meeting the requirements of the New Homes Quality Code (NHQC), and the scheme accommodates a diverse mix of companies that can support different budgets and sizes by offering a wealth of home-building expertise. “To be recognised as an Accredited Supplier by this not-for-profit organisation overseeing the quality of new homes is a hugely important step for us. As we work with housebuilders and developers to digitise their quality management processes to deliver better-built homes, we can help them remain compliant with the NHQB’s framework while also meeting other building regulation requirements, removing manual processes, improving on-site efficiencies, and reducing human error,” commented Gustave Geisendorf, CEO at BuildData Group, holding company for Zutec. Housebuilders and developers using Zutec’s QM solutions during the construction phase can conduct Quality Assurance and Health & Safety inspections, monitor real-time project progress as well as contractor performance, and share information with inspectors and assessors — all by using its cloud-based platform and field app. Zutec’s QM solutions also provide dashboards for management visibility, insights and reporting, so teams can be reassured that homes are being built to meet quality requirements the first time, every time.  Where issues may arise, these can be quickly identified, addressed, and remediated before plot completion, so quality homes can be built on-time and to budget, while reducing risk, and meeting NHQB’s requirements and the highest standards. Geisendorf continued: “Today, busy site managers spend an increasing amount of time using disconnected systems and paper-based QM processes, filling out paper forms and taking photos to meet regulatory requirements. This not only takes time but can mean mistakes are made along the way. By using Zutec, housebuilders and developers can take a consolidated approach to quality management, by using a single digital platform and field app, that standardises processes and templates, and provides consistency from site-to-site and plot-to-plot. Bringing everything together in one place, ensures all on and off-site teams have structure and can follow the same practice. As part of our NHQB Accredited Supplier status, we will work closely with NHQB’s Registered Developers to help improve the quality of their homes and customer services through digital processes.” To find out more about the NHQB and its framework, or how Zutec is helping customers with QM, please visit https://www.nhqb.org.uk/ or https://www.zutec.com/product/quality-management/. Alternatively book a demo and experience Zutec’s QM solutions for yourself HERE. Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Propertymark pledges its support for Smart Meter Awareness Week for private rented sector

Propertymark pledges its support for Smart Meter Awareness Week for private rented sector

Propertymark has pledged its continued support for the annual Smart Meter Awareness Week. Launched by Smart Energy GB, the UK Government backed campaign body, the first drive ran from 18 to 22 October 2021, with a plan to boost awareness and the number of smart meter installations across the UK.   This year, Smart Meter Awareness Week is taking place between Monday 30 October to Sunday 5 November.   Smart meters are a part of UK Government plans for a smart energy system that will support carbon emissions cuts.  In June 2020, the UK Government stated the policy framework for energy suppliers to deliver a market-wide rollout of smart meters as soon as practical in the period after 2020.  This included considering policy measures to proactively support the uptake of smart meters in the private rented sector, such as measures to help ensure that landlords do not unreasonably refuse a tenant’s request to install a smart meter where the tenant is the energy customer and whether to add smart meters to the mix of measures that may be implemented to meet minimum energy efficiency requirements in the private rented sector.  Timothy Douglas, Head of Policy and Campaigns at Propertymark, said:   “Propertymark is pleased to support the third annual Smart Meter Awareness Week for the private rented sector. Letting agents, tenants, landlords and energy companies all have a role to play in improving smart meter take up because installing a smart meter can help tenants understand how much energy is being used at the property and for agents and their landlords whether this can help to influence any energy efficiency improvements that are needed.”  Building, Design & Construction Magazine | The Choice of Industry Professionals 

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London market turns corner following mini budget downturn

London market turns corner following mini budget downturn

The latest research from London’s largest lettings and sales estate agent, Foxtons, has revealed that just over a year on from the mini budget responsible for the declining health of the property market, the capital has turned a corner, with an uplift in activity helping to restimulate the market.  The research by Foxtons analysed the health of the London market since the mini budget in September 2022, the impact it had and how the market has bounced back in recent months. The latest full monthly transaction data for March of this year shows that sales have once again started to rise, climbing to 5,060 from the market low witnessed in February – an 11% month on month increase. Harrow has seen the sharpest return to form, with transaction levels up 43.4%, followed by Kensington and Chelsea (+42.9%) and Redbridge (42.9%). Sellers are also returning to the fold, with the number of homes listed for sale hitting 101,457 in September of this year, marking a full return to pre-mini budget market conditions, with every borough seeing an increase in stock for sale versus the previous low seen in March of this year.  Mini budget impact on house price The research shows that the average London house price* had been climbing steadily in the run up to the mini budget, increasing by 1% between July and September 2022. However, in the months that followed, it fell by -4.2% to a low of £520,961 in March of this year.  The biggest declines were seen across the boroughs of Kensington and Chelsea (-11.2%), Brent (-8.7%) and Islington (-6.9%), while just four boroughs avoided a mini budget induced market downturn – Tower Hamlets, Hounslow, Greenwich and Havering. Drop in sales stock Further analysis by Foxtons* shows that this drop in London house prices was driven by a two pronged reduction in both available stock and buyer appetite.  In September of last year, there were just shy of 100,000 homes listed for sale across the London market. This fell to a low of 86,291 homes listed for sale by January 2023 and by March, total stock levels still sat some way off pre-mini budget levels at just 89,279.  Again, Islington ranked as one of the worst hit boroughs, with sale stock falling by -19.1% between September 2022 and March 2023. Waltham Forest and Lambeth also saw reductions of -19%.  Transactional decline But it wasn’t just a reduction in seller activity that impacted the market, internal data from Foxtons shows that there was a decline in buyer interest, with buyer applications falling by -46% between September and October 2022.*  Further research by Foxtons also shows that some 8,311 property sales completed in September 2022*, the third consecutive month that London transaction levels had exceeded the 8,000 threshold.  Following the mini budget, this figure fell consistently every month, hitting a low of 4,531 homes sold in February of this year.  Signs of the London market revival However, the research by Foxtons suggests that the London market has now turned the corner. Foxtons internal data shows that buyer applicant levels have increased by 27% between September of this year and October, with October 2023 also seeing 69% more applicants versus October 2022, with this number expected to increase further by the end of the month.* The latest full monthly transaction data for March of this year shows that sales have once again started to rise, climbing to 5,060 from the market low witnessed in February – an 11% month on month increase. Harrow has seen the sharpest return to form, with transaction levels up 43.4%, followed by Kensington and Chelsea (+42.9%) and Redbridge (42.9%). Sellers are also returning to the fold, with the number of homes listed for sale hitting 101,457 in September of this year, marking a full return to pre-mini budget market conditions, with every borough seeing an increase in stock for sale versus the previous low seen in March of this year.  Foxtons CEO, Guy Gittins, commented:  “There’s no doubt that the government’s mini budget caused an almost immediate decline in property market health and this impact reverberated across the entire country. This was no different across the London market, where months of otherwise steady momentum in stock levels and buyer activity were slowed by the uncertainty and market nervousness the mini budget brought. The good news is that we certainly seem to have turned a corner and across the capital, stock levels have returned to pre-mini budget norms. At Foxtons, we’ve seen a 26% year on year increase in new sales instructions. So it’s reassuring to see that London’s sellers have placed their trust in us during these tough times, helping us to regain our position as London’s number 1 estate agency in the process*, while the data also suggests that the capital’s buyers have now emerged from their mini-budget boltholes in order to transact.  As a result, the market is largely expected to finish on a positive note by the end of the year and this growing market sentiment should only be strengthened by the Bank of England’s decision to freeze interest rates in September.” You can view the full data tables online here.  *House price and transaction data sourced from the Gov – UK House Price Index (July 2023 – latest available) Transaction data based on March latest as volume figures for the most recent months are deemed not yet reliable for reporting. Foxtons buyer applicant numbers based on the number of buyers applying to purchase a property and based on the monthly totals seen in September and October 2022, versus September and October 2023. Note – October data not yet fully matured.  For sale stock levels sourced from Rightmove. Source of Foxton’s position as London’s number 1 estate agent sourced from TwentyCI data, H1 2023 v H1 2022 market share and market share growth of New Instructions at a brand level. Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Final Phase of Addington Capital’s Headingley Park Gets Underway - 70 Additional Residential Units To Rent at “Best Place to Live in Leeds

Final Phase of Addington Capital’s Headingley Park Gets Underway- 70 Additional Residential Units To Rent at “Best Place to Live in Leeds”

Scheme Will Complete Conversion of Office Park to 100% Residential Under PDR Addington Capital, the property investment and asset management specialist and its investor partner ICG have started work on the final phase of their Headingley Park residential scheme. An additional 70 new residential units will be created at Stockdale House; the fifth and largest building on the site. Headingley Park is an office to residential conversion scheme in which four office buildings have already been converted to create 152 residential units. This final phase of 70 units at the fifth building, Stockdale House, will take the overall development to 222 units. Work has started following the NHS vacating the offices in the building. Stockdale House is being converted under the last major PD Prior Approval issued in Leeds and the new units will be provided over ground and five upper floors. The scheme is designed to meet current space standards and will be completed in Q3 2024. The Headingley Park development has proved attractive to young professionals and post graduate students in Leeds, due to being close to the City Centre and the University, in a large 6.5-acre parkland setting. Individual buildings provide 30 to 40 units which are predominantly studio, one and two-bedroom apartments. The conversion has been well received by renters to date, with the completed phases being 100% let and achieving rents of £900 and £1,275 pcm for one- and two-bedroom apartments. Headingley Park is currently ranked, “The best place to live in Leeds” by HomeViews. The scheme has a residents’ lounge, co working area and large landscaped gardens. Martin Roberts Principal of Addington Capital said, “We are delighted to be underway with the conversion of Stockdale House. The 70 high quality apartments will have spectacular views across the City and meet the growing need of today’s renters in Leeds.” “The Stockdale House development completes the conversion of Headingley Park from an in-town office park to a 100% residential development. We believe that this is an exemplar for Permitted Development conversion of offices to residential and a road map for future schemes.” He continued, “Given the falling demand for offices and the increased costs of making those properties energy efficient, we believe a relaxation of the size limit of new PD conversion, (currently up to 1,500 sq. m), would be a fast way to increase the supply of much needed residential from brownfield sites, with a low embedded carbon solution.” Building, Design & Construction Magazine | The Choice of Industry Professionals 

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