Propertymark is keen to see the UK Government clarify how it intends to deliver more homes following the King’s Speech. The professional body has previously argued that the new UK Government would need to build a large, new housing estate with over 1000 homes every day to hit its
New government figures reveal a significant decline in Right to Buy (RTB) sales, with overall sales down by 43% in London, reflecting a decrease across all UK regions last year. The data shows that there were 6,275 RTB sales in London last year, a sharp decline from the 14,085 sales
Liverpool City Council is set to receive a £55m investment boost from Homes England to accelerate the regeneration of Liverpool’s historic northern docklands. A report to the Council’s Cabinet today is recommending the council enters into an agreement with Homes England to accept Brownfield Infrastructure Land (BIL) grant funding.
“Labour’s housebuilding targets and planning reforms are welcomed, but pace, along with funding or incentives, will be needed to encourage SME developers to build on grey belt.” These insights come from Richard Nowell, Senior Relationship Director at Secure Trust Bank Real Estate Finance, a leading provider of finance for property development
Persimmon South West has received approval for detailed planning for a new scheme for 40 homes in Exeter. Exeter City Council gave the green light for 40 high-quality homes, on land adjacent to Blakeslee Drive in Newcourt. This follows the outline planning consent that had previously been granted in March
The London Homes Coalition – a partnership of major housing associations, contractors and specialist suppliers in London – has today launched the ‘Building Skills for the Future’ report, which identifies the critical risk to the maintenance, retrofit and provision of London’s social and affordable housing. Based on a first-of-its-kind analysis
Market insight from Material Information and digital property pack provider, Moverly, suggests that the proper implementation of Material Information across the estate agency sector could reduce the amount of lost or delayed commission due to fall throughs to the tune of £357.4m per year. Moverly looked at the number of fall
Mayor Tracy Brabin has vowed to deliver a “new dawn” for housebuilding across West Yorkshire, by working in lock-step with local housing providers and the new government in Westminster. The West Yorkshire Housing Strategy 2040, the first of its kind for the region, has been unveiled on a visit to
To meet its manifesto pledge of 1.5 million new homes within this parliamentary term, Labour must deliver just over 1,150 new homes consistently every single working day for the next five years without defaulting – this is roughly equivalent to delivering at least five large scale housing estates every single
Nathan Emerson, CEO of Propertymark comments, “Propertymark welcomes the appointment of Matthew Pennycook as Housing Minister within the newly formed cabinet. Housing must play a pivotal role for the government moving forwards and in real terms, delivering over 1,100 new homes every single working day for the next five years will
Propertymark is keen to see the UK Government clarify how it intends to deliver more homes following the King’s Speech. The professional body has previously argued that the new UK Government would need to build a large, new housing estate with over 1000 homes every day to hit its target of 1.5 million new homes by 2029. During the King’s Speech yesterday, His Majesty said: “My ministers will get Britain building, including through planning reform, as they seek to accelerate the delivery of high-quality infrastructure and housing (Planning and Infrastructure Bill).” Prior to the King’s Speech, the new UK Government pledged to study reform of the national planning framework, including restoring compulsory housing goals for local authorities, as part of their plan to construct 1.5 million new homes by the end of this parliament. Propertymark has also previously called on the UK Government to redefine what the green belt is so that there can be a focused programme of building on brownfield sites first. Nathan Emerson, CEO at Propertymark, comments: “Pledges from the new UK Government to build 1.5 million new homes and to reform the national planning policy framework to restore compulsory housebuilding targets for local authorities are welcome, as this country desperately needs to ensure supply meets increasing demand and ultimately make home ownership more affordable. “However, Propertymark has previously highlighted that for the new UK Government to meet its ambitious housing targets there must be a full review and wide-ranging stakeholder engagement to ensure there is sensible infrastructure in place to enable new developments to flourish and compliment the areas they are built within. “It is imperative that existing areas which are available for use are strategically prioritised for redevelopment above greenbelt land – moving forwards there must be a ‘connected communities’ approach and one which integrates and enhances already established metropolitan areas.” Building, Design & Construction Magazine | The Choice of Industry Professionals
New government figures reveal a significant decline in Right to Buy (RTB) sales, with overall sales down by 43% in London, reflecting a decrease across all UK regions last year. The data shows that there were 6,275 RTB sales in London last year, a sharp decline from the 14,085 sales the previous year. The report indicated that nine stock-owning authorities, including some with substantial housing stock, did not submit their figures in time for publication. However, even with these additional figures, the total is estimated to only increase to between 6,750 and 6,820. This year’s figures are comparable to the sales during the first year of the COVID-19 pandemic when there were 6,861 sales. Although sales had increased in the subsequent two years, they have now dropped again. The data also reveals a fall in sales across all regions last year. Despite London having one of the highest numbers of RTB sales, the year-on-year decline is evident. The number of sales in the capital was 1,081, the lowest since 2013. London also has one of the lowest rates of sales relative to its housing stock, just above the South East and the South West. The number of sales per 1,000 social housing properties in London was just 2.8%, a significant drop from the 2015 peak of 10%. Since the RTB scheme started in 1980 until 31 March 2024, there have been over 2,026,893 sales across the country. A spokesperson from the Ministry of Housing, Communities and Local Government commented: “As part of our mission to get Britain building again, we will build 1.5 million homes over this parliament and create the biggest wave of social and affordable housing in a generation. Our ambitious plan to increase overall supply will make homes more affordable, and we will work with councils to replace the homes sold under Right to Buy.” The Labour Party’s manifesto includes a commitment to prioritise the building of new social rented homes and to better protect existing stock by reviewing the increased RTB discounts introduced in 2012 and increasing protections on newly built social housing. One expert believes the significant drop in RTB sales could be due to higher borrowing costs, which is also believed to have contributed to a decline in overall house sales last year. Alex Diner, senior housing researcher at the New Economics Foundation (NEF), stated: “While higher borrowing costs are likely behind this reduction in Right to Buy sales, the scheme still requires serious reform. Right to Buy continues to have a chilling effect on councils’ ability to build new homes. Powers should be devolved to councils, who know their areas best, to tailor the policy to local circumstances. The receipts system should also be reformed to allow councils to replace homes that are sold. These reforms would allow Right to Buy to help resolve the housing crisis, rather than contribute to it as it currently does.” The NEF has previously called for the devolution of the Right to Buy scheme following research published in May, which provided an update on how many homes sold under the policy are now owned by private landlords. Building, Design & Construction Magazine | The Choice of Industry Professionals
Liverpool City Council is set to receive a £55m investment boost from Homes England to accelerate the regeneration of Liverpool’s historic northern docklands. A report to the Council’s Cabinet today is recommending the council enters into an agreement with Homes England to accept Brownfield Infrastructure Land (BIL) grant funding. The public funding relates to Central Docks, the largest neighbourhood within Liverpool Waters, and the city’s largest brownfield site. The site, owned by waterside regeneration specialists Peel Waters, is projected to unlock more than £500m in private investment. The Central Docks scheme includes the establishment of a public park and vital infrastructure to accommodate approximately 2,350 new homes. The funding for this site, which is subject to final approval from HM Treasury, comes just a week after Rachel Reeves MP, referenced the scheme in her first speech as Chancellor of the Exchequer in which she set out the new Government’s commitment to unlock stalled housing schemes. The Central Docks scheme was also identified by the Liverpool Strategic Futures Panel, chaired by Mayor Steve Rotheram, and forms part of Liverpool’s ambitious 20-year plan for the whole of its iconic waterfront. Liverpool City Council has also made a similar brownfield site commitment in its draft housing strategy, currently subject to a public consultation, which supports the delivery of 2,000 new homes every year to 2030 and to double the number of affordable homes across the city. Peel Waters has stated that the key infrastructure within the 10.5 hectare scheme, which would comprise of utilities, thoroughfares, green spaces, and public amenities, would lay the groundwork for future investments and the development of housing and commercial ventures would also support new community, retail and leisure facilities. With full planning approval for the site preparation work, the comprehensive plans for Central Docks include the creation of an interconnected network of public spaces. The proposed new landscape will be enriched with the planting of hundreds of trees, with the centrepiece being ‘Central Park,’ a sprawling 2.1-hectare oasis, set to become one of the city’s largest urban green spaces. Central Park’s design will celebrate the site’s industrial heritage and coastal location, blending coastal and woodland plantations, wetlands, community gardens, and open parkland. Embracing inclusivity and sustainability, the park will feature amenities such as shelters, recreational facilities, and wildlife habitats, to be enjoyed by both residents and visitors. The development will also significantly enhance connectivity for pedestrians and cyclists, with the aim of creating seamless open access between the city centre, Princes Dock, Central Docks and Everton’s new stadium at Bramley Moore Dock. Building, Design & Construction Magazine | The Choice of Industry Professionals
“Labour’s housebuilding targets and planning reforms are welcomed, but pace, along with funding or incentives, will be needed to encourage SME developers to build on grey belt.” These insights come from Richard Nowell, Senior Relationship Director at Secure Trust Bank Real Estate Finance, a leading provider of finance for property development and investment. He hails the government’s ambitions as positive but believes one of the five ‘golden rules’ for developing on grey belt land may lock SME housebuilders out of being able to regenerate these sites. The grey belt refers to brownfield sites such as disused car parks and wasteland within parts of protected green belt land. Specifically, Richard says the aim to ensure 50% of the homes built on grey belt land are affordable housing will make it extremely difficult for local and regional developers to justify developing on these plots. Richard said: “If I were to sum up the events since Labour won the election in three words, those would be ambitious, pace, and delivery. The reinstatement of housebuilding targets and intent to reform planning is ambitious from Rachel Reeves, and we now need pace from the Chancellor and our new Housing Secretary, Angela Rayner, to deliver on these plans. “One of the key challenges I see is enabling small-to-medium sized housebuilders to rejuvenate these sites which include old car parks and petrol stations on the borders of our countryside. The costs of development are already sky high, and to effectively demolish existing structures for redevelopment will be another significant outlay that impacts the viability of a scheme. To then have 50% of the properties as affordable housing will further impact the feasibility and profitability for small to medium sized housebuilders, which may ultimately restrict grey belt development solely to larger or national developers.” To overcome this, Richard believes funding and support are required from the government to subsidise construction costs for SME developers. He suggests that Labour’s ‘Freedom to Buy’ scheme, which sees the government act as a guarantor, needs to get off the ground as soon as possible to keep the property market moving. “Funding and support will, I suspect, be required. This is especially the case for smaller enterprises which have lost substantial time and money from not being able to get their projects off the ground because of ever-trickier planning processes. Meanwhile, more people must be able to realise that dream of being homeowners so that the market stays buoyant. For that to happen, first time buyers also need help. The Freedom to Buy mortgage guarantee scheme is a great initiative, and we trust that details will soon be coming out soon about how this will be implemented. “At Secure Trust Bank Real Estate Finance, we have years of experience working on grey belt schemes. One recent scheme saw us provide a £2m property development loan to Larkvale Homes, which turned an old, disused petrol station into a development that now houses nine luxury homes in the village of Cockfield in Suffolk. As property finance specialists, we stand ready to support developers with their real estate projects, and this wider movement from the government.” For more about Secure Trust Bank Real Estate Finance and its residential development finance products and solutions, please click here. Building, Design & Construction Magazine | The Choice of Industry Professionals
Persimmon South West has received approval for detailed planning for a new scheme for 40 homes in Exeter. Exeter City Council gave the green light for 40 high-quality homes, on land adjacent to Blakeslee Drive in Newcourt. This follows the outline planning consent that had previously been granted in March for up to 50 new homes. The 3.2-hectare site will feature family housing, comprising about a third of the area, with the remaining space dedicated to open areas. To the south, the open space will extend an existing pond to support the new development, incorporating additional planting to enhance biodiversity. Existing quality trees, including a significant Oak tree, will be preserved as part of the enhanced open space within the development. The five-star developer has collaborated closely with the Local Newcourt Community Association throughout the process and will undertake road works to widen the bend on Omaha Drive adjoining River Plate Road. Persimmon has a presence in Exeter and its East Devon outskirts. Currently, it has two sites at Tithebarn – Ashworth Place and Cherrywood Grange, where homes are available for purchase from £259,995 – and is one of the developers contributing to the expansion of Cranbrook. The builder’s Community Champions initiative – which donates over £700,000 annually to good causes and organisations across Britain – has recently supported local groups such as Hospiscare, Stoke Hill AFC U9s, and Ladysmith Infant & Junior School. Persimmon Homes South West Managing Director Dan Heathcote said: “This achievement is a testament to our planning team and the collaborative efforts with residents, officers, and stakeholders. Together, we have brought 40 new homes to Exeter, providing much-needed affordable housing in the South West, as recognised by Exeter City Council. “Alongside the S106 commitments and green initiatives associated with the site to enhance the area, this project exemplifies the high standards at Persimmon and our commitment to supporting sustainable communities through collaboration. “As a responsible partner, Persimmon looks forward to continuing its engagement with the Council and the local community as we progress with delivering quality new homes for local people.” Building, Design & Construction Magazine | The Choice of Industry Professionals
The London Homes Coalition – a partnership of major housing associations, contractors and specialist suppliers in London – has today launched the ‘Building Skills for the Future’ report, which identifies the critical risk to the maintenance, retrofit and provision of London’s social and affordable housing. Based on a first-of-its-kind analysis of the consolidated work programmes of the seven key housing associations in the Coalition, the report identifies a demand of 10,000 people annually to meet their asset management commitments, and up to 31,000 to deliver new build planned investments over the next five years. Combined, the Coalition’s pipeline represents about 10% of the overall construction workforce in the capital, which is a significant proportion considering the competing needs of other housing association and council house building and asset management programmes. Without further action, the Coalition alone faces a potential shortfall of around 2,600 skilled people to deliver these investments. This challenge will be particularly critical for specific trades and occupations. For example, the Coalition alone will require 8-10% of the London’s roofers and carpenters & joiners, which already face significant recruitment pressures. Considering current recruitment trends, the Coalition would only have 85% of the roofers and 78% of the surveyors needed to provide and maintain affordable housing across the capital over the next five years. Additionally, the mutually competing demand for these skills from both low carbon retrofit pressures across all development sectors and the asset management requirements of London’s housing associations is further straining the workforce available for both. The UK social housing sector invests billions annually in improving and maintaining homes, significantly contributing to community value, job creation, and economic growth. Fiona Fletcher-Smith, Chief Executive Officer at L&Q, highlighted the opportunity and challenge this provides: “A quarter of London’s new homes are built by housing associations, and we are responsible for maintaining and investing in over 700,000 homes across the country. However, our workforce is ageing, retiring, and not being replaced by newly trained staff. This growing challenge threatens the provision of genuinely affordable, warm and safe housing in the capital.” The London Homes Coalition recognises the need for sector-wide collaboration, engagement with further education and training providers, and close cooperation with government bodies at national, regional, and local levels. The Building Skills for the Future report outlines three key strategies: Key to achieving this will be to redouble efforts to ensure the workforce is representative of the capital and the people the London Homes Coalition serves. Currently, women represent only 14% of the construction workforce in London, with significantly lower percentages (around 2%) in trade occupations. Similarly, ethnic minorities only make up approximately 24% of the construction workforce in the capital. Careers in these trades offer excellent pay, conditions and scope for progression but these opportunities aren’t reaching all of London’s diverse communities. Targeted initiatives will not only address immediate labour shortages, but will also build a more robust and diverse talent pipeline for the future. Elly Hoult, Chief Operating Officer and Deputy Chief Executive at Peabody, said “We recognise there is no ‘quick fix’ to this issue. It needs a long-term plan, with organisations across the sector working together to bring about significant change. This is an important first step and we welcome more organisations to join the London Homes Coalition. Together, we’re finding ways to get more people from all backgrounds into construction jobs, while addressing the skills gap that increasingly becomes a barrier as we aim to build more homes and refurbish many others.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Market insight from Material Information and digital property pack provider, Moverly, suggests that the proper implementation of Material Information across the estate agency sector could reduce the amount of lost or delayed commission due to fall throughs to the tune of £357.4m per year. Moverly looked at the number of fall throughs that take place across the property market on a quarterly basis, as well as the total amount of estate agent fees either lost or delayed as a result of these sellers having to return to square one. According to TwentyCI, 64,865 sales fell through across the UK market during the first quarter of this year alone. With estate agents earning £3,975 on the sale of the average home in the current market*, that’s a total of £257.9m in commission either lost, or at best delayed, until a new buyer is found. The figures from Moverly show that in 2023 alone, almost £1,1bn was lost or delayed in commission due to the number of fall throughs across the UK market. While fall throughs are unfortunately inevitable, there are steps that can be taken to minimise the potential of a sale collapsing. One such step is the proper provision of Material and Upfront Information early in the process. This provides agents, vendors, buyers and conveyancers alike, with better insight to the potential issues posed when purchasing a property and the opportunity to resolve issues earlier. Figures from Moverly show that not only does the provision of Upfront Information allow for transactions to complete up to 70% quicker, but it also reduces the chances of a sale collapsing by a third. If estate agents across the UK were to embrace Material and Upfront Information fully, this could have reduced the fees lost or delayed during the first quarter of 2024 by £85.9m. Over the course of 2023, reducing fall throughs by a third would have also seen agents benefit to the tune of £357.4m in fees that weren’t lost or delayed as a result of transactions collapsing. Gemma Young, Moverly CEO, says: “With the introduction of NTSELAT guidelines, agents now have a concrete framework to work towards with respect to Material Information. This provides them with a firm foundation upon which they can drive sector standards forward, whilst, at the same time, reducing the propensity for transactions to fall through Moverly’s mission is to support agents to deliver Material and Upfront Information with greater ease and without adding to their already substantial workload. In turn, Moverly works to connect the key stakeholders in the property transaction to the vital information which helps other stakeholders to progress towards exchange and completion. In embracing this, agents will not only be able to offer quicker transaction times to their sellers, this in turn will also reduce the amount of commission that is either lost or delayed as a result of fall throughs.” Data tables Building, Design & Construction Magazine | The Choice of Industry Professionals
Mayor Tracy Brabin has vowed to deliver a “new dawn” for housebuilding across West Yorkshire, by working in lock-step with local housing providers and the new government in Westminster. The West Yorkshire Housing Strategy 2040, the first of its kind for the region, has been unveiled on a visit to Saxton Lane in Leeds, where 204 affordable apartments are being developed by WDH. The strategy identifies untapped potential for new housing across Bradford, Calderdale, Kirklees, Leeds and Wakefield, where over 38,000 new homes could be built on previously developed land. For the first time, the plans will bring together the five local authorities of West Yorkshire to deliver across four core missions – boosting housing supply, building affordable homes, improving existing homes, and creating vibrant communities. The strategy aims to build on the progress made since the devolution of the £90 million Brownfield Housing Fund to the region, which has helped to deliver more affordable homes than at any other time since the global financial crash, including 1,500 in the year 2022-2023. Tracy Brabin, Mayor of West Yorkshire, said: “Our fifteen year housing strategy gives us the long-term, joined-up approach we need to tackle this intolerable housing crisis, ensuring that everyone has a safe and secure place to call home. “Growing up in a good quality council flat we didn’t have to worry about unaffordable rent, mould on our walls or the looming threat of a no-fault eviction, and no one else should have to either. “Housing is a basic human right and the foundation for a good and healthy life. By working in lock-step with the new government and our brilliant local housing partners, we will deliver a new dawn for housebuilding across West Yorkshire.” The launch of the West Yorkshire Housing Strategy follows a speech made earlier in the week from the new Chancellor of the Exchequer, Rachel Reeves MP, who vowed to “get Britain building again”. To help deliver 1.5 million new homes by the end of the parliament, the Chancellor and MP for Leeds West and Pudsey has pledged to work closely with Mayors and local leaders, restore housebuilding targets, and reform planning rules whilst bolstering planning teams. According to the West Yorkshire Combined Authority, there are approximately 85,000 people and families on waiting lists for a council home across the region, with house prices reaching six times the average annual wage, as compared to only three times the average annual wage in 2002. Private renters have also been hit hard by the “double-whammy” of high inflation and poor conditions, with rents in Leeds, Kirklees and Wakefield rising by around 20% since 2018, and two in five privately rented homes failing to meet the government’s definition of a “decent home”. To address rising fuel poverty, the Combined Authority and its partners have committed £40 million to modernise social homes with solar panels, heat pumps and better insulated walls and windows. The new housing strategy sets out an ambitious vision to create greener and more secure communities, driving down energy bills across West Yorkshire. Cllr Denise Jeffery, Leader of Wakefield Council and Chair of the West Yorkshire Combined Authority Place, Regeneration and Housing Committee, said: “Thousands more families are living in safe, secure and affordable homes because of the decisions of our West Yorkshire Mayor in partnership with local councils. We’ve really made the most of the powers and funding devolved to our region so far. “But now we need to accelerate this work even more. For too long, strict Government rules over where our brownfield housing fund is spent have blocked our plans. This has limited too much of what we’ve been able to achieve to places where land values are already high. “With the backing of a new Government, and the promise of greater flexibility in how we can make decisions, we can build 38,000 new homes. That is at the heart of delivering a region which everyone can be proud to call home.” Andy Wallhead, Chief Executive Officer of WDH and Chair of the West Yorkshire Housing Partnership, said: “Housing associations are already leading the way on housebuilding in West Yorkshire, with our partnership members collectively providing a fifth of all homes across the region.“ But, by working with the new Government and continuing our close collaboration with the Mayor, we’re determined to do even more and will keep on building to provide the affordable and sustainable homes needed to unlock West Yorkshire’s true potential.” Building, Design & Construction Magazine | The Choice of Industry Professionals
To meet its manifesto pledge of 1.5 million new homes within this parliamentary term, Labour must deliver just over 1,150 new homes consistently every single working day for the next five years without defaulting – this is roughly equivalent to delivering at least five large scale housing estates every single week to achieve the newly set housing target. A more detailed plan is needed as a priority from the UK Government on how their aim will be delivered and when. There must also be full disclosure on infrastructure planning to support homes as they are being built. Developments must have comprehensive design regarding essential services such as education, policing, health, transport, and employment – it cannot ever be a case of weaving thousands of additional new homes into current metropolitan areas and expecting the current structure to absorb the additional pressures. In addition, there must be due consideration for ensuring there is a wide-ranging skillset and workforce in place that can bring this enormous vision to life. There must be cross party cooperation and strong stakeholder engagement to ensure plans are workable, realistic, and can be delivered within the timeframe promised. Each area identified as having potential for new housing must pay full respect to greenbelt status, and there should ideally be a focus on bringing brownfield land back to purposeful use first. However, Chancellor Rachel Reeves stated that the UK Government intends to build on some green belt land, but this should involve a full review to prioritise alternative available land to achieve their housing targets. Referring to the planning system ‘an obstacle’, Ms Reeves committed to building their targeted package of new homes. However, there must also be a variety of different tenures when it comes to constructing new homes to ensure both buyers and renters are served well. To implement such a bold task, it is right to review the entire system from top to bottom, implement potential improvements and make better use of technology for both insight and delivery. With the UK population expected to surge to around 70m within the next ten years, it is critical that supply keeps up with demand. Currently, the housing sector continues to suffer from a drastic undersupply of sustainable new homes, which in turn is contributing to artificially higher costs for both buyers and renters. Nathan Emerson, CEO at Propertymark, comments: “There is no doubt that the new UK Government must prioritise building homes the nation desperately needs, and that is why we welcome a commitment to deliver new homes and review green belt boundaries with a view to prioritising brownfield and grey belt land to meet manifesto pledges. “Local councils need as much support as possible in meeting the new UK Government’s aims. Building 1.5 million new homes by the next general election is an challenging target, but Propertymark would like to see urgent clarity and detail as to how this ambition can be achieved. This goal would require over a thousand new homes to be built every working day before 2029.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Nathan Emerson, CEO of Propertymark comments, “Propertymark welcomes the appointment of Matthew Pennycook as Housing Minister within the newly formed cabinet. Housing must play a pivotal role for the government moving forwards and in real terms, delivering over 1,100 new homes every single working day for the next five years will take immense planning and enormous stakeholder engagement to achieve. “There needs to be a long-term cross-party approach with continuity built in as standard – we should never be looking at a housing plan as an insular five year government term, in case of any change down the line. “The housing sector is crying out for a vastly increased supply to keep pace with demand, there simply can be no room for error moving forwards or we may end up with prices artificially rocketing due to consumer desperation in finding a suitable home for their needs. “There must be a broad mix of sustainably built homes that brings much needed stock to both buyers and renters. The plan must be delivered with precision and in a way that is connected with wider government planning to ensure key infrastructure is provisioned for as the population further grows.” Building, Design & Construction Magazine | The Choice of Industry Professionals
