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

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

Golding Homes and McGregor White Architects have secured planning approval for eight energy-efficient, affordable family homes around Maidstone. The approval from Maidstone Borough Council means three disused garage sites will be redeveloped – at The Harbour in Sutton Valance, Thatch Barn Road in Headcorn and Sheridan Close in Ringlestone – to create two and three-bedroom family homes surrounded by attractive landscaping and with enhanced biodiversity for the local community to enjoy.  The homes will meet the Passivhaus Standard, a leading international design standard to increase energy efficiency. They’ve been designed to achieve ambitious energy performance standards while providing excellent thermal comfort and lower energy bills for residents. Steve White, Director of McGregor White Architects said: “We are pleased to support Golding Homes in maximising the potential of these small sites through high quality architectural design, which delivers homes that are fit for the future and creates neighbourhoods where people are proud to live.” Tom Casey, Director of Development and Strategic Asset Management at Golding Homes, added: “Our new homes must be fit for the future, which is why we’ve committed to increasing the environmental performance of our new developments. “To get planning permission for these eight Passivhaus homes marks progress towards delivering more affordable and sustainable homes and supporting Net Zero targets.” Building, Design and Construction Magazine | The Choice of Industry Professionals

The latest Homebuyer Hotspots Demand Index by estate agent comparison site, GetAgent.co.uk, has revealed that buyer demand levels are on the decline in the fourth quarter of 2022 as economic pressures and the increased cost of borrowing continue to force many people to reevaluate their home buying aspirations. GetAgent’s Hotspots Demand Index monitors homebuyer demand across England on a quarterly basis. Current demand is based on the proportion of stock listed as already sold (sold subject to contract or under offer) as a percentage of all stock listed for sale. E.g, if 100 homes are listed and 50 are already sold, the demand score would be 50%. The latest index shows that across England, buyer demand is currently at 48.3% which marks a -9.2% decline since Q3 2022 and -17.3% decline since this time last year, suggesting that the pandemic-inspired property boom is being brought well and truly back down to earth by the significant economic pressures facing the nation’s would-be homebuyers. England’s strongest sales demand hotspot is currently Durham where it sits at 68%. This is -5.6% lower than Q3 of this year, but -14.6% lower than this time last year.  City of Bristol, which ranked as the number one sales demand hotspot last quarter, now ranks second with 56.6% while Surrey (56.4%), Greater London (55.9%), and the City of London (54.8%) all maintain good levels of demand despite all experiencing quarterly and yearly declines.  In terms of annual change, the worst hit places are the Isle of Wight (-25.5%), East Riding(-25.5%), and Derbyshire (-24.8%).  The worst hit places in the last quarter are East Riding (-12.9%), Bedfordshire (-12.8%), and Staffordshire (-12.7%). In the search for good news, optimism is hard to come by. No parts of England have experienced sales demand growth in the past year or the past quarter.  The smallest annual declines have been reported in Lincolnshire (-4.7%), Leicestershire (-8.0%), and Suffolk (-9.8%), while the smallest quarterly declines are in Suffolk (-3.6%), Durham (-5.6%), and Wiltshire (-5.9%).  Co-founder and CEO of GetAgent.co.uk, Colby Short, commented: “After a couple of years of manic demand, activity, and price increases, we end 2022 with a gentle bump back down to earth. Economic gravity was always destined to enforce the declines we’re currently seeing and, in many ways, it’s a surprise that it’s taken this long to happen.  You’re going to read all sorts of pessimistic property headlines over the coming months, but the forecast isn’t actually that bleak. Look at the long-term history of house prices and you’ll see that the property market is never down for long, regardless of how many pandemics and economic crashes are thrown its way. However, the fortunes of the housing market are very much in the hands of the Bank of England at the moment because, until interest rates come down and borrowing becomes more affordable, lenders are going to be tighter with their mortgage offers and buyers are going to be nervous about taking on these relatively high levels of risk.” Data tables Data tables and sources can be viewed online, here. Building, Design and Construction Magazine | The Choice of Industry Professionals

The latest industry index on property fall throughs by property purchasing specialist, House Buyer Bureau, has revealed that there has been a sharp increase in both the number of property transactions falling through in Q3 of 2022, as well as the cost associated with these fall throughs.  House Buyer Bureau analyses the number of transaction fall throughs across the UK property market, what this means in terms of the average cost of a fall through and what the total cost to the property market is as a result. The latest index shows that in Q3 of last year, 90,188 transactions are estimated to have fallen through, a 15.6% increase on a quarterly basis and a 3.6% uplift versus this time last year. This is also the highest quarterly number of fall throughs recorded over the last five years.  What’s more, a combination of runaway inflation and increasing house prices have pushed the average cost of a property transaction collapse to £3,337.  As a result, House Buyer Bureau estimates that homebuyers and sellers were hit by a total estimated cost of almost £301m as a result of their transactions falling through in Q3 2022.  This total cost is not only 18.7% up on the previous quarter, but also 16.3% on an annual basis.  There is one silver lining for the nation’s buyers and sellers, as House Buyer Bureau estimates that the total number of fall throughs seen in 2022 will still sit some -6.7% below the total seen in 2021.  However, this is largely down to the fact that the first two quarters of the year saw a far lower level of transactions falling through, with the latest quarterly spike suggesting that the property market could be in for a rougher ride in 2023.  Managing Director of House Buyer Bureau, Chris Hodgkinson, commented: “We’ve seen a consistent increase in the number of property transactions falling through in recent years and despite a fairly settled start to 2022, the latest data shows that the number of sales collapsing hit a five year high in the third quarter of 2022.  This is almost certainly due to the turbulence that came via the mortgage sector in September, as lenders pulled a raft of products and increased mortgage fees in reaction to the Bank of England’s aggressive attempts to curb inflation via a string of consecutive interest rate increases. As a result, many buyers found that they could no longer afford the cost of borrowing which has led to swathes of property sales falling by the wayside during the second half of last year.  Unfortunately, we saw a further hike to the base rate come in December and so the likelihood is that this increased level of property fall throughs will not only be apparent within the final quarter of 2022, but it’s likely to be maintained into 2023. Data tables Data tables and sources can be viewed online, here.