Applethwaite Homes turned to Absolute Agency and trusted the brand specialists with an overhaul of its brand positioning. The home builder is part of the Eric Wright Group and develops beautiful homes in rural settings. Its old branding did not reflect the quality of the properties and the stunning, unique
You may have watched the horrors of the Grenfell Tower fire in 2017, and the court case which followed revealing years of poor accountability and neglect, and as a responsible infrastructure professional thought it had nothing to do with you. You may have read about the leasehold scandal and large-scale
A FORMER Brazilian singer is the latest new recruit for leading developer, Lovell Homes, marking continued growth across the North East region. Putting down his microphone in exchange for a hard hat, Nelson Bonotti has joined Lovell Homes as assistant site manager of the region’s Northshore development in Stockton-on-Tees. Once
Leading modular housing pioneer ilke Homes has started work to deliver 146 energy-efficient, affordable homes at the Glenvale Park development in Wellingborough, as part of Man GPM’s community housing focus. The announcement marks the second time ilke Homes and Man GPM have worked together to deliver an affordable-led scheme, having
Barratt Developments has built 721 new homes in the Hampshire region in the last 12 months and has brought more than £46 million to local communities. The leading developer, which is bringing its Barratt Homes and David Wilson Homes developments to the county, also provided 179 affordable new homes, sold
The latest insight into the new-build sector from Alliance Fund, the end to end real estate fund, has revealed that homebuyer demand for new homes dropped during the closing stages of 2022, whilst the level of new-build stock available to buyers increased. Alliance Fund analysed new-build buyer demand based on
The winners of NHBC’s Pride in the Job 2022 Supreme Awards have been announced following a ceremony in London last week. Organised by NHBC, the UK’s leading new homes warranty and insurance provider, Pride in the Job celebrates site managers who have achieved the very highest standards in house building.
MSV Housing’s new Housing our Ageing Population Panel for Innovation (‘HAPPI’) development has launched in South Manchester. Cllr Bev Craig and Andy Burnham buried a time capsule to commemorate the occasion, created by the residents at neighbouring Elmswood Park extra care scheme. Bowes House offers 40 high quality 1 and
A new sense of urgency to scale up retrofit as energy crisis impacts bite, and Government funding flows – Liverpool, Glasgow & Lancashire retrofit summits announced. The impacts of the current energy costs crisis has brought the urgent need for retrofit into sharp focus across the country, with local authorities building
The latest analysis from specialist property lending experts, Octane Capital, has revealed that the nation’s homebuyers are turning to equity release to help combat the cost of living crisis, with the total value of equity released up 73% annually, driven by both an increase in volume and the sums being
Applethwaite Homes turned to Absolute Agency and trusted the brand specialists with an overhaul of its brand positioning. The home builder is part of the Eric Wright Group and develops beautiful homes in rural settings. Its old branding did not reflect the quality of the properties and the stunning, unique locations. Absolute Agency was brought on board to conduct a workshop with an in-depth look into what Applethwaite stood for and the audience they wanted to attract. The final branding look and feel is now more high end, with a clear colour palette of luxurious dark blue complemented by a secondary set of paler colours. Ornamental graphics were developed to represent the development locations and the bespoke font used to add to the quality look and feel of the brand positioning. The branding includes a full suite of material for each development, brochures, signage, graphics, promotional items and packs for new home owners. The graphics and typography are complemented with Applethwaite’s lifestyle images, which bring to life the various happy moments that home buyers experience when they’re choosing their new home. This branding has so far been implemented on sites throughout the north west including Inglewood near Preston, Davyfields near Darwen and Brackenwood in Blackburn. Chris Hodgen, MD of Absolute Agency, said: “We have extensive experience within the home builder and property sectors and when Applethwaite Homes approached us with such a unique challenge it was a great project to work on. Our team worked seamlessly with theirs to really get to the heart of what Applethwaite is about and hearing the internal and customer reaction to the new branding has been fantastic.” Colin Hetherington, MD from Applethwaite Homes, said: “We have always been extremely proud in the quality of the homes we build, however we identified that our existing brand identity and marketing materials didn’t match up to this high quality. We wanted to strengthen our position in the marketplace, whilst delivering a unique customer experience from enquiry through to moving in, which truly represented Applethwaite Homes. “We wanted to work with a local agency who had experience in the housing sector, but who also took the time to understand our team, our ambition and who could support us on this journey as an extension of our marketing team. “The feedback from customers and internal staff has been really positive and our outside visual identity now matches our internal values.” Absolute Agency is 23 years old and based in Bolton. Founded by Chris Hodgen, it is a bold agency specialising in branding, digital, content and communications for ambitious clients. Applethwaite Homes builds family homes in small and exclusive developments that have individual character, their aim is to provide comfortable homes that reflect the quality and style of times past and satisfy the needs of modern living. Building, Design & Construction Magazine | The Choice of Industry Professionals
You may have watched the horrors of the Grenfell Tower fire in 2017, and the court case which followed revealing years of poor accountability and neglect, and as a responsible infrastructure professional thought it had nothing to do with you. You may have read about the leasehold scandal and large-scale housebuilders trapping buyers into rising ground rents, fees, and ongoing maintenance costs, and as a responsible infrastructure professional thought it was nothing to do with you. The Government’s reaction to these events, which was five years in the making and finally achieved royal asset in April, was the drafting of the Building Safety Act, and the creation of a Building Safety Regulator, headed up by Peter Baker the Chief Inspector of Buildings at the Health and Safety Regulator. Ahead of his appointment Mr Baker warned that the public had “lost complete confidence in the construction industry’s ability to build safe and good-quality buildings. While the full impact of the Act and the creation of the Regulator will be felt over the coming months and years, there are some immediate changes that will come into force when the act is legally in effect in from October 2023 which infrastructure professionals need to pay attention to. The creation of the Building Safety Regulator in particular, sitting within the Health & Safety Executive, has huge connotations. The regulator will have three main functions; overseeing the safety and standards of all buildings, helping and encouraging the built environment industry and building control professionals to improve their competence, and leading the implementation of the new regulatory framework for high-rise buildings. The regulator is set to have a very active role in the approval of residential projects of more than 18 metres or seven storeys, and designs will have to be put before the regulator at various points throughout the process with the regulator having the power to hit the pause button should it believe safety isn’t at a good enough level. This isn’t the end for a project, but challenging a decision will involved a lengthy, and probably costly, appeal to the Secretary of State. Keeping a detailed digital audit trail will also become particularly important to parties involved in a project, if they’re named as the ‘accountable person’ on a scheme. This could be the asset owner, contractor, consultant or the architect, who will be responsible for maintaining a detailed record of their processes, and be able to justify how decisions were taken. Digital twins are the ultimate form of this audit trail. As my colleague Steve Cockerell, Industry Marketing Director, for Rail and Transit wrote earlier this year: “Cross River Rail’s CEO Graeme Newton expects that in comparison to the benefits digital twins provide, the cost of creating and maintaining them is insignificant, and that investment in digital twin technology will just become the norm. Newton believes future owner-operators will ask: ‘What have been the (data) inputs into all of these things? How are you maintaining the standard you said you would? How do we know that safety is paramount? The digital twin means it is forever captured and its forever represented and its forever traceable.’” As a result of the new Building Safety Regulations when it comes to the ongoing cladding remediation, the leaseholders will now be the very last in line expected to pay out to fix it, behind developers, cladding manufacturers, and then existing property owners. Any asset owners looking to increase rents in future years better be sure that everything about the building is in ship shape. The Act creates a legal requirement to give building safety information to your tenants alongside any rent demands, as well as involving tenants in any building safety decisions. Should anything go wrong and the asset manager has to pay for remediation or legal costs, these costs are not allowed to be passed back to tenants in the form of service charges. The time period for any defects is also extended from six years to 30 years, and covers refurbishments as well as new builds. It could be poor design, shoddy workmanship, or inappropriate materials, but if it has happened in the last 30 years and impacts the habitability of a property, the original developer or current asset manager is responsible for the cost. That means businesses could end up paying out for work it was involved in long before the current team was on the scene. For new-build projects, the claims period is 15 years. The requirement for robust information management in the built environment is nothing new says Nigel Eatough, Regional Director at Bentley Systems. Firms have been doing this for years to help defend against claims, but today’s open source Digital Twin technology makes it easier to connect all information together. Open data is fundamental given the time scales that information needs to be maintained, but so is an open mindset to take advantage of the insights digital twins will bring. The creation of the Act also brings with it a new wave of council building inspectors, as well as private sector building control inspectors, tasked with looking over work which relates to safety. While for many parts of the residential sector this increase in scrutiny is much-needed, and much-welcomed, added layers of analysis and bureaucracy may seem like an additional headache. However, those interested in making a lasting impact to an area rather than a quick buck, should have less to fear as long as they have a strong digital audit trail of the work they carried out and the materials used. If implemented properly, when the Act is fully in place by October 2023 the new rules and processes should ensure a higher standard of development which will positively impact contractors, consultants, asset owners and residents alike. By Mark Coates, International Director of Public Policy and Advocacy, Bentley Systems By Nigel Eatough, Regional Director, Northern Europe, Bentley Systems Building, Design & Construction Magazine | The Choice of Industry Professionals
A FORMER Brazilian singer is the latest new recruit for leading developer, Lovell Homes, marking continued growth across the North East region. Putting down his microphone in exchange for a hard hat, Nelson Bonotti has joined Lovell Homes as assistant site manager of the region’s Northshore development in Stockton-on-Tees. Once complete, the site will boast 113 affordable homes with river frontage, on behalf of Thirteen Group. Before beginning his career in construction, Nelson started singing while he was at university and was in a singing duo for eight years in Brazil, where he was born. The duo, Nelson e Davi, had five songs that were played on Brazilian radio until they decided to finish their music career in 2010. Nelson then made the decision to go into a career in construction. Nelson said: “From a young age I always loved singing and really enjoyed my time in the music industry. It’s a time of my life I look back on fondly and I’m proud of what we managed to achieve, including our songs getting played on Brazilian radio, which was really quite surreal. “However, once we made the decision to stop singing in 2010, I began following another passion of mine, construction.” After leaving the music industry behind, Nelson worked in various construction roles in Brazil, including looking after the cranes for the Maracanã Stadium in Rio de Janeiro, when the stadium hosted the 2014 football World Cup and the 2016 Summer Olympics. In 2016, Nelson made the decision to move to the UK. He became a labourer and worked his way through the ranks, to become an assistant manager at another national housebuilder, before joining Lovell Homes. Nelson added: “My 12-year career in the property world both here in the UK and overseas, has afforded me a range of skillsets, allowing me to experience all aspects of the build process. This is something I’m looking forward to bringing into my new role as assistant site manager at Lovell, while developing my skills alongside the region’s growth. “I’ve joined the Lovell team at what is a really exciting time. We’ve just broken ground at the Northshore development, which is set to be a fantastic site with lots of opportunities for those looking for a new home in Stockton-on-Tees. I’m looking forward to seeing the site develop over the coming months and welcoming our first homeowners this year.” Last year saw five other new starters join Lovell’s North East region following its launch earlier in the year. Paul Devaney, area director of Lovell Partnerships in the North East region, said: “It’s great to see our North East region’s continued growth as we start the New Year. 2022 was a brilliant first year for the region, with work beginning at two of our first developments, including the team breaking ground at our Northshore site. “We welcome Nelson to the team. He brings a breadth of experience across many areas of property, making him a real asset to our Northshore site.” To find out more about Lovell Homes, please visit: https://www.lovell.co.uk/. Building, Design & Construction Magazine | The Choice of Industry Professionals
Leading modular housing pioneer ilke Homes has started work to deliver 146 energy-efficient, affordable homes at the Glenvale Park development in Wellingborough, as part of Man GPM’s community housing focus. The announcement marks the second time ilke Homes and Man GPM have worked together to deliver an affordable-led scheme, having struck a £31 million deal in December 2020 for a 226-home affordable housing development in Grantham, Lincolnshire. The 7.8-acre site forms part of phase one at Glenvale Park, which once complete, will deliver a total of 3,000 homes, over 200 acres of parkland, a new local centre and two new schools. The wider masterplan for Glenvale Park is expected to generate more than 3,000 jobs and £1.4 billion in economic impact for the area – with £2 of social value generated for every £1 spent during construction. Having received approval from North Northamptonshire Council, ilke Homes has started work delivering a mix of multi-tenure single family houses, apartments and maisonettes, ranging in sizes from one to four bedrooms homes. The homes – which are due for completion in 2024 – are being manufactured offsite at ilke Homes’ 25,000 sq. ft. factory in North Yorkshire, where precision-engineering techniques enable the company to deliver highly sustainable modular homes. ilke Homes can therefore commit to delivering energy-efficient housing, with a likely EPC rating of A, putting the properties in the top five percent nationally for energy efficiency, with the knock-on effect of saving consumers hundreds of pounds a year on energy bills. Thanks to most of the build stage taking place offsite, traffic disruption to the local community will be kept to a minimum. Man Group’s Community Housing team seeks to achieve the dual objectives of providing both social and financial returns, addressing the housing crisis in the UK by building homes that are affordable to households. The UK has experienced a significant, long-term mismatch between supply and demand in the housing market, which has led to an affordability crisis impacting households earning the median income and below. The team deploys institutional capital to build new homes with the aim of generating positive returns for investors and delivering a demonstrable social impact. Tom Heathcote, executive director of development at ilke Homes, said: “This scheme is testament to the continued confidence our customers have in our product, and we’ve enjoyed working with local planning officials and other stakeholders throughout the planning process and into the construction phase. After the success of our first joint scheme in Lincolnshire, we’re delighted Man Group have shown the confidence in us to deliver a second sustainable urban development scheme together. “Through our accredited modular methods of delivery, we can ensure the scheme aligns with Man Group’s own stringent ESG criteria, while also providing much-needed, energy-efficient and well-designed homes for the local community.” Building, Design and Construction Magazine | The Choice of Industry Professionals
Barratt Developments has built 721 new homes in the Hampshire region in the last 12 months and has brought more than £46 million to local communities. The leading developer, which is bringing its Barratt Homes and David Wilson Homes developments to the county, also provided 179 affordable new homes, sold at 54% below the average price of a private new house. The figures are obtained from the company’s annual socio-economic footprint and highlight how much local economy benefits from the building of new homes thanks to a combination of programmes that form part of each new housing development. With investment into the local community a top priority, Barratt spent £30.1 million on physical works to improve highways, local outdoor spaces, and community facilities. A further £10.1 million came from a boost to local spending, supporting trade through spending in shops and services, which has in turn supported 98 retail and service-related jobs. In addition, almost £6.2 million has been contributed to organisations local to each of the developments in the region. These include supporting local authorities, schools, community groups and charities to strengthen local communities. A well as financial investment, the housebuilding supply chain has contributed £123 million through its total value spend with suppliers and sub-contractors, working with 607 supplier and sub-contractor companies, as well as supporting 1,552 jobs and 13 places for graduates, apprentices and trainees. Barratt holds sustainability high on its priority list too. An impressive 3.96 tonnes of construction waste has been diverted from landfill thanks to responsible management – a 44% reduction against the company’s 2015 benchmark of 7.09 tonnes. The equivalent of 12 football pitches worth of public and private green space has been created (8.7ha), with 54% of developments designed with landscape-led, above ground, sustainable urban drainage systems. James Dunne, Barratt Developments Managing Director, Southampton Division, said: “Despite the nation facing uncertainty with the cost-of-living crisis, we have prided ourselves on continuing our commitment to building strong, sustainable communities. “The local areas we work in benefit from jobs, community development and support for local business as well as a collection of brand-new homes. It’s so important for us to leave a lasting legacy in and around these new neighbourhoods, and I’m very proud of the positive impact we have, both at the time of construction, as well as in the years after.” The socio-economic footprint report highlights several other key figures and benefits generated through the building of Barratt Homes and David Wilson Homes in 2022: The report on Barratt’s socio-economic footprint in 2022 was carried out by independent experts who analysed socio-economic impacts through the delivery chain for new housing based upon Barratt Developments datasets, published research and national statistics. For full details, visit: https://www.barrattdevelopments.co.uk/building-sustainably/our-publications-and-policies/publications Barratt Developments is currently selling a variety of properties across Hampshire, including at Harbour Place in Bedhampton, Saxon Corner in Emsworth and Forest Walk in Whiteley. To find out more, please visit www.barratthomes.co.uk or www.dwh.co.uk. Building, Design & Construction Magazine | The Choice of Industry Professionals
The latest insight into the new-build sector from Alliance Fund, the end to end real estate fund, has revealed that homebuyer demand for new homes dropped during the closing stages of 2022, whilst the level of new-build stock available to buyers increased. Alliance Fund analysed new-build buyer demand based on the number of new homes listed for sale that have already been sold as a proportion of all stock available. The latest figures show that during the final quarter of 2022, demand for new homes sat at 18.5%, meaning almost a fifth of all available new-build homes listed for sale had been snapped up by homebuyers. However, it’s clear that buyer appetites have been dented by a heightened degree of market turbulence, with the new-build buyer demand falling by -10.6% on the previous quarter and -15.3% on an annual basis. In fact, just one of the top 20 major cities analysed by Alliance Fund has avoided a drop in demand for new homes. In Aberdeen, demand has remained flat between the third and fourth quarter of 2022, climbing marginally on an annual basis (+0.1%). Cardiff has seen the largest decline in demand on a quarterly basis at -27%, followed by Portsmouth (-21.5%) and Nottingham (-16.3%). Annually, the most notable drop in demand has been recorded in Bristol and Plymouth, with both cities seeing a decline of -28.2%, followed by Sheffield (-23.4%). During Q4 of last year, new-build for sale stock accounted for 8.2% of total homes listed for sale, up +1.6% quarterly and a +0.6% increase versus the same period the previous year. Manchester is home to the highest current level of new-build stock, accounting for 15.5% of total homes listed. Liverpool (+4.5%), Glasgow (+7.9%) and Edinburgh (+3.7%) saw the largest increase in new-build market stock as a percentage of total listings versus the previous quarter, while Manchester (+9.8%), Liverpool (+4.6%) and Newport (3.9%) saw the largest annual increase. CEO of Alliance Fund, Iain Crawford, commented: “The closing stages of 2022 presented a far more challenging landscape for the nation’s homebuyers, with increasing mortgage costs and fears of a market downturn causing many to delay or postpone their purchase. Much like the wider market, the new-build sector has felt the pinch in this respect, with demand for new homes declining pretty much across the board both on a quarterly and annual basis. This presents a challenge for developers who have spent considerable time and money bringing homes to market and now face the prospect of either sitting on their stock until such time the market rebounds, or marketing them at a lower price point to the detriment of their profit margins. However, those who have been anticipating a change in market sentiment should already have a contingency plan in place to prevent any notable, long-term impact. At Alliance Fund, we see a cooling sales market as an opportunity to pivot, by deploying developments originally intended for sale within the Build to Rent market. This ensures that we can maintain a revenue stream for both our investors and ourselves without a loss of momentum with respect to current and future projects. The good news is that with buyer confidence starting to return, coupled with an influx of new-build stock reaching the market, we should see a lift in buyer demand in 2023.” Data tables – Data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals
The winners of NHBC’s Pride in the Job 2022 Supreme Awards have been announced following a ceremony in London last week. Organised by NHBC, the UK’s leading new homes warranty and insurance provider, Pride in the Job celebrates site managers who have achieved the very highest standards in house building. It is the most highly regarded competition in the house building industry and a prestigious benchmark for exceptional site managers. A series of regional events took place throughout the autumn, to announce the Seal of Excellence and Regional Award winners and celebrate the achievements of the Quality Award recipients. Last week’s final ceremony saw the best of the best crowned the Supreme winners of the Pride in the Job Awards 2022. Now in its 42nd year, judging for the awards is rigorous, with each site manager assessed across six key areas: consistency, attention to detail, leadership, interpretation of drawings and specifications, technical expertise and health and safety. The competition is split between three categories: small, medium and large house builders, plus a multi-storey category for site managers working on projects of five storeys or more for multiple occupancy. The 2022 Supreme Award winners are: Small Builder Category winner: Sam Sayers from S & DS Construction Limited for Mount Bernard Rise, Dungannon in County Tyrone, Northern Ireland. Medium Builder Category winner: Steve Walker from C G Fry & Son Limited for Poundbury Northern Quadrant in Dorchester, Dorset. Large Builder Category winner: Kirk Raine from David Wilson Homes Mercia for Doseley Park in Solihull in the West Midlands. Multi-storey Builder Category winner: Matt Smurthwaite from Berkeley Homes North East London for 250 City Road, London. The Small Builder Category runner up was Craig Wilson of J J Lattimer. The Medium Builder Category runner up was Mark Follos of Lioncourt Homes Limited. Large Builder Category runner up was Craig Thomas from Redrow Homes South Wales and the Multi-storey Builder Category runner up wasMartin Norris of St Edward Homes. Over more than four decades, Pride in the Job has underpinned NHBC’s core purpose of raising standards in house building by championing high-quality homes and protecting homeowners. By recognising the very best site managers across the UK, showcasing best practice and rewarding excellence, the competition celebrates the vital role that site managers play in ensuring new homes are delivered on time, on safe sites and to exacting construction quality standards. Commenting on the Awards, NHBC Chief Executive Steve Wood said: “At NHBC we believe that the calibre of the site manager and the way they inspire their site team has the greatest influence on the quality of the finished home. By promoting friendly rivalry, showcasing best practice and rewarding excellence, Pride in the Job supports the delivery of homes of the highest quality. “Congratulations to all the 2022 Pride in the Job Award winners. The role of the site manager is more demanding than ever, with new methods of construction, new technologies and an increased pace of regulatory change. They are an inspiration to us all and should be very proud of the quality of new homes they are creating.” For further information and the full list of Pride in the Job winners and runners up, please visit: Pride in the Job 2022 | NHBC Building, Design & Construction Magazine | The Choice of Industry Professionals
MSV Housing’s new Housing our Ageing Population Panel for Innovation (‘HAPPI’) development has launched in South Manchester. Cllr Bev Craig and Andy Burnham buried a time capsule to commemorate the occasion, created by the residents at neighbouring Elmswood Park extra care scheme. Bowes House offers 40 high quality 1 and 2 bedroom apartments as shared ownership for the over-55s and is MSV’s fourth HAPPI scheme, designed to adapt over time to meet the changing needs of the occupants. This is the latest MSV development at the award winning 5 acre Stagecoach site (now known as The Depot) in Whalley Range. Working in partnership with Manchester City Council and Homes England, MSV has played a key role in providing suitable homes at The Depot for every stage of life, from young families needing contemporary homes to the older generation wanting to live independently but with support in beautifully designed spaces. The 40 apartments at Bowes House have been designed and built to meet the ‘HAPPI’ design principles, ensuring they are adaptable and accessible with plenty of space, natural light and communal areas. Each apartment incorporates stylish open plan living and large private balconies. There is also a shared roof terrace and beautifully landscaped gardens at the scheme. The homes are all available for shared ownership, which enables people to buy a share of a property and pay a subsidised rent on the remaining share, a scheme which offers a route into affordable home ownership whilst helping those who may wish to ‘rightsize’. Delivering the new HAPPI scheme has seen MSV invest £5.6m in Bowes House with £2.2m funding from Homes England. The entire Depot site now provides over 200 homes including 30 family homes for shared ownership and 72 apartments at extra care scheme Elmswood Park, which offers a high standard of on-site support from housing management staff and a consistent care service for customers who need it, helping to relieve pressure on residential care settings. Total Investment by MSV on The Depot has been £18.4m with funding from both Homes England and Manchester City Council totalling £9.07m. Building, Design and Construction Magazine | The Choice of Industry Professionals
A new sense of urgency to scale up retrofit as energy crisis impacts bite, and Government funding flows – Liverpool, Glasgow & Lancashire retrofit summits announced. The impacts of the current energy costs crisis has brought the urgent need for retrofit into sharp focus across the country, with local authorities building capacity to deliver retrofit at scale, in partnership with the communities they serve. UK and Scotland governments are now providing the much-needed funding to enable retrofit scale-up to begin, and Low Carbon Homes is helping to galvanise local stakeholders to ensure all actors move in lockstep to optimise action and to ensure all co-benefits are secured. The popular Low Carbon Homes series of online regional retrofit events continue, with new events announced covering Liverpool City Region, Glasgow, Lancashire. A second Energy Saving Answers innovation showcase event has also been announced. Retrofit advocates and the events’ organiser, Low Carbon Homes report a noticeable step-change in local authority retrofit engagement and clearer determination to deliver retrofit at-scale, and speed, to ensure all possible benefits are captured as residents struggle to heat their homes. And industry is also rising to the challenge, offering local communities decarbonisation solutions with Adaptavate, E.ON, IndiNature, Jigsaw, and Stelrad supporting the upcoming retrofit summits. Upcoming retrofit events (all online): Liverpool Retrofit Summit – 31 January, 1st, 2nd February 2023. Our third Liverpool event, hosted for the first time by Liverpool City Region Combined Authority. Glasgow Retrofit Summit – 28 February, 1st, 2nd March 2023. Our third Glasgow event, hosted by Glasgow City Council but covering Glasgow City Region. Lancashire Retrofit Summit – 21, 22, 23 March 2023. Our second Lancashire event, hosted for the first time by Cosy Homes in Lancashire (CHiL) – a partnership of all 15 Lancashire councils. Energy Saving Answers – 23 and 28 March 2023. The 2nd innovation showcase event, highlighting 10 more innovative energy saving products, with evidence and case-studies to prove that they work. “It really is quite remarkable to see the uplift in ambition and capacity at local and combined authorities” says Graham Lock from Low Carbon Homes. “There’s renewed vigour and determination to get on with retrofit and rise to the delivery challenge, while ensuring that benefits start to flow quickly – for residents, neighbourhoods and the local economy” If you are an installer, retrofit professional, local authority staff member, housing provider or work in the retrofit supply chain in any capacity, sign up to attend these free online events. Go to https://lowcarbonhomes.uk/events and select any you want – and although each one has a local flavour, many of the talks are relevant to all regions of the UK. Building, Design & Construction Magazine | The Choice of Industry Professionals
The latest analysis from specialist property lending experts, Octane Capital, has revealed that the nation’s homebuyers are turning to equity release to help combat the cost of living crisis, with the total value of equity released up 73% annually, driven by both an increase in volume and the sums being released per plan. The cost of living crisis continues to stretch households across the nation to financial breaking point. As of October, a 95.8% increase to the energy price cap means the average household is paying £2,500 per year to run their homes. Even the average annual spend on our shopping has soared, with the average household now spending £4,295 per year – up 15% in a year. While the record levels of house price growth seen during the pandemic have started to subside, the average UK house price has still climbed by 12.6% in the last year. However, with the health of the UK property market looking uncertain over the short-term, at least, the nation’s homeowners are turning to equity release to combat the cost of living crisis, as well as improve their existing homes, rather than making the move to a larger property. In fact, the latest quarterly data shows that the number of homeowners opting to release equity from their home is up 25% compared to this time last year. The largest increase has been across Northern Ireland, with a 149% annual increase in equity release activity, followed by the North East (60%) and Yorkshire and the Humber (52%). But it’s not just the number of homeowners opting to release equity that is on the up, the amount they’re releasing has also climbed. In fact, the average amount released across the UK during the last quarter sat at an average of £114,356, a 38% increase compared to the previous year. This trend has been driven by the London market, where the average level of equity released is up 59% year on year, averaging £261,880. Both an increase in equity release plans and the propensity to release a higher level of equity has pushed the total level of equity released to £1.526bn in the last quarter alone, a 73% annual increase vs the same quarter last year. CEO of Octane Capital, Jonathan Samuels, commented: “Homeowners are facing a prolonged period of financial uncertainty, with the cost of living crisis stretching their household finances extremely thin. At the same time, a drop in property market confidence along with the increasing cost of borrowing has caused many to think twice before continuing to climb the property ladder. However, following the pandemic property market boom, many homeowners have enjoyed a substantial boost where the value of their home is concerned and so while they may be short on cash, they’ve seen the value of their bricks and mortar nest egg increase. As a result, there’s been a sharp increase not only in the number of homeowners opting to release the equity built up in their home, but also the level of equity they are choosing to release. Cashing in their chips is allowing them to improve their existing home in order to meet their needs, as well as providing them with a lump sum to help stabilise their finances during the current economic downturn.” Data tablesData tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals
