Housing needs in the UK are changing amid declining levels of home ownership and lifestyle shifts. Rather than the traditional ‘buy-and-hold’ model, residential housing needs are shifting towards developments that are built for rent and aimed towards a specific demographic who are at a particular life stage. As such, funding
With the new school year now underway, Richard Werth, CEO of Troy Homes has taken a look at the impact that ‘outstanding’ Ofsted rated schools have on house prices. According to data from the Land Registry, Department of Education and Ofsted, the connection between family sized homes and proximity to
200 new homes will be delivered by Wates Residential on the south coast. The contractor has already started work on its Daedalus Village scheme, marking this occasion with a time capsule burial in Lee-on-the-Solent. The site will see the rise of a mix of housing consisting of 120 private homes
The 15 new eco-friendly houses at Longcot in Oxfordshire, which are now under construction, have received a prestigious accolade for demonstrating ‘national leadership in implementing One Planet Living’. Created by international sustainability charity Bioregional, the One Planet Living is a system for planning sustainable development and keeping them on track
1,500 new homes are to be delivered by Wates Developments and Redrow Homes in Wretchwick Green, Bicester. Cherwell District Council’s Planning Committee granted approval to the revised planning application, which includes housing of dwelling types, sizes and tenures to meet the range of local needs. “This is a great example
A four year regeneration programme that will prolong Gentoo’s housing stock and ensure residents are living in high-quality, energy efficient and sustainable housing, within a safe environment, will be delivered by Engie’s regeneration business. The work includes re-roofing existing properties and undertaking gable wall repairs at the Racecourse Estate in
Gap Homes, a concept design of factory constructed, contemporary and cost-effective eco-homes, has been launched by the architects from international firm BDP’s Bristol studio. BDP is sponsoring the Bristol Housing Festival, which opens this week on the 19th of October with the launch exhibition that will showcase creative and innovative
Soil mixing solutions for foundations are being used for the first time by soil stabilisation and ground remediation specialist Deep Soil Mixing Ltd as an alternative to piling on a high quality housing project in St Mary’s Bay, Kent, aiming to prevent extreme settlements from variable ground. These works are
A new research by Heriot-Watt University discovered that the UK has a backlog of 3.9 million homes, its biggest housing shortfall on record; meaning that 340,000 new homes need to be built each year until 2031. Central Bedfordshire alone needs to build 360 affordable homes each year until 2021 under
Plans to give local firms a chance to secure work on a £500 million housing programme have been revealed by Liverpool City Council. Foundations, a new ethical housing company established by Mayor Joe Anderson, aims to create 10,000 new homes and refurbish dilapidated housing stock in Liverpool. “Foundations has the
Housing needs in the UK are changing amid declining levels of home ownership and lifestyle shifts. Rather than the traditional ‘buy-and-hold’ model, residential housing needs are shifting towards developments that are built for rent and aimed towards a specific demographic who are at a particular life stage. As such, funding needs are changing to support these types of developments and this should lead investors to consider new ways of accessing the property market. Why is the UK property market experiencing change? Homeownership levels have fallen dramatically among the younger generation over the last thirty years. In 1991, 67% of 25-34 year olds were homeowners compared with 36% in 2014. Meanwhile, private sector renting more than doubled between 1980 and 2014. This is not just a UK phenomenon. In the United States, for example, home ownership fell to its lowest level in more than five decades in 2016. Declining homeownership is resulting from both cyclical economic forces as well as longer-term structural trends. While economic pressures have been important contributors towards declining homeownership, especially among millennials, longer-term lifestyle shifts are also having a significant impact. The way people live and work is frequently less structured and standardised than in the past, and there appears to be less desire for people to be held down by long-term commitments. Coinciding with the advent of the ‘gig’ economy has been rising numbers of self-employed and contract workers over the last twenty years, suggesting a more mobile and flexible workforce. Nonetheless, while both the residential and commercial property sectors are experiencing significant change, new investment opportunities are opening as developers adjust their product offerings to meet evolving economic conditions and lifestyles. In fact, some of the most innovative developments are happening in the residential market. Co-living benefits the individual and the community ‘Co-living’ is an area of particular interest and future growth. These developments, which at this point are mainly focused in London, cater for young professionals’ more mobile lifestyles. They offer the convenience of all-inclusive costs, covering rent and bills as well as services such as cleaning and gym membership. This market is further developed in the United States and the evidence suggests widespread popularity in metropolitan areas such as New York and Oakland, California. In addition to convenience, this type of living arrangement combines the benefits of feeling part of a community while at the same time offering individual privacy. Occupiers have shared living spaces, but they can also retreat to their own fully furnished private apartment. It presents an attractive choice for young people, especially as a national survey recently found that 16-34 year olds experience feeling more lonely than older generations. However, it is not just the investment potential that these types of new developments hold for investors. Co-living and other purpose-built rental developments may also hold wider economic benefits that could help the struggling UK high street. How can investors take advantage? Investors can access these types of purpose-built rental developments through development finance or bridge loans, which are secured by the underlying assets and offer higher yields relative to UK government and corporate bonds – typically between 5% and 8% per annum net of fees. With banks and building societies retrenching from lending in the post-financial crisis years, this market presents a growing opportunity as developers look to secure funding from a diverse range of sources. Although still at an early stage of development, operational assets are a logical, modern way to benefit from an evolving and changing UK property market. By Tom Brown, Managing Director at Ingenious Real Estate
With the new school year now underway, Richard Werth, CEO of Troy Homes has taken a look at the impact that ‘outstanding’ Ofsted rated schools have on house prices. According to data from the Land Registry, Department of Education and Ofsted, the connection between family sized homes and proximity to a school with an ‘outstanding’ Ofsted rating (state or private; primary or secondary) can be as much as 28% and, even at the extremities of the schools’ catchment areas, it can remain around 20%. Given that some schools’ catchment areas can span 20 miles in each direction from the school’s gates, an Ofsted ‘outstanding’ rating can affect a huge swathe of property. Whilst living within a school’s catchment area does not guarantee a place, it certainly helps. For example, living within the catchment area of a Grammar School is often essential to securing a place. The premium for homes within 5 miles of popular private schools is often much higher than 28% – particularly in University cities where demand outstrips supply. So, as there is usually no formal catchment area, there is a temptation to live further away from the school. But, it is worth bearing in mind that if you live 10-15 miles west of the school, then your child’s best friend could easily live the same distance to the east of the school, making sleepovers and parties very complicated! Choosing the right schools is highly individual and can change as your children develop. It can be a complex and daunting process but, in the end, it very often comes down to ‘gut feel’ – you just know when you have connected with staff, students and atmosphere and if it just feels right. Buying to be in a catchment area is one thing, but the family home still has to meet the demands of all the family’s lives. Affordability, design, layout, size, commute, local facilities are just a few of the criteria that should be considered; after all, life outside school is just as important. But, for everyone’s benefit, the shorter the school run, the better.
200 new homes will be delivered by Wates Residential on the south coast. The contractor has already started work on its Daedalus Village scheme, marking this occasion with a time capsule burial in Lee-on-the-Solent. The site will see the rise of a mix of housing consisting of 120 private homes and 80 affordable homes. Part of the Accelerated Construction Model together with four other national pilot sites, the Homes England initiative was designed to enable the Government to fast-track the building of homes on publicly owned land and diversify housing delivery. “We are very proud to have started work on the Daedalus Village site, which has a rich history and a very promising future, and are pleased that so many people from the local community joined us to celebrate this significant moment with a time capsule burial,” said Paul Nicholls, Managing Director of Wates Residential South. “Through our work, we will not only deliver 200 new high quality homes for local people but will also increase opportunities in the area through our investment in education, training and skills,” he added. Local suppliers will be appointed for the new homes on the south coast, while residents will benefit from the creation of training and educational opportunities, which aim to boost the local economy. This includes 10 apprenticeships, work experience placements for local students and courses aimed at unemployed adults. The homes are expected to be completed in late 2020. Wates Residential is responding to the needs of its customers by developing mixed tenure housing schemes in partnership with both public and private sector organisations. The business covers new-build and partnership housing development activities, reaffirming its long-term commitment to deliver new homes and to help address the UK’s urgent need for new housing. Its partnership housing offer includes building and selling homes to the public, as well as providing affordable homes for social landlords.
The 15 new eco-friendly houses at Longcot in Oxfordshire, which are now under construction, have received a prestigious accolade for demonstrating ‘national leadership in implementing One Planet Living’. Created by international sustainability charity Bioregional, the One Planet Living is a system for planning sustainable development and keeping them on track to achieve their goals. Thanks to their use of timber, wood fibre and hemp-lime in the construction process, the new homes in the Kings Farm Close development will have near zero carbon footprints. Emissions of climate-changing carbon dioxide gas caused by their construction are about 90% lower than for a conventional brick-built new home, while future emissions of carbon dioxide will also be much lower than normal houses as heating requirements will be very low. Oxford Advanced Living, the developer, aims to also enhance the variety of animal and wildflower species on the land in and around the development, which has been used for pasture. A fifth of the site’s total area will be shared green space, planted and managed with native trees to support wildlife. “This was our first project where we also put a real focus on how we could support the creation of a sustainable community. We’re committed to delivering the Action Plan and will continue to evolve the actions as the project develops. We believe that residents will be able to, and will in fact be encouraged to, lead sustainable lifestyles at Kings Farm Close, and we look forward to their feedback to help us with future projects,” said Martin Pike, Director of Oxford Advanced Living. Six of the 15 homes are designated as affordable in one of the most expensive regions of Britain. Four of them will be let to tenants at below market rents by Sovereign Housing Association, and two are for shared home ownership, helping people get on the first rung of the property ladder. Meanwhile, the remaining nine homes are for sale on the open market. The developer and its builders, Greencore Construction, have drawn up a One Planet Living action plan for the new homes covering all aspects of sustainability – social, economic and environmental. This ambitious plan is based on ten easy-to-grasp One Planet Living principles covering issues such as water, energy, wildlife, waste and contribution to the local economy. National Leadership status was granted after Bioregional reviewed the plan.
1,500 new homes are to be delivered by Wates Developments and Redrow Homes in Wretchwick Green, Bicester. Cherwell District Council’s Planning Committee granted approval to the revised planning application, which includes housing of dwelling types, sizes and tenures to meet the range of local needs. “This is a great example of how large-scale developments can be brought forward successfully and sympathetically which local people will be proud of for years to come,” said a spokesperson for Wates Developments and Redrow Homes. “While we have changed significant aspects of the masterplan over time, the core ethos for the site has remained in place. We want to create a great place to live and work, with a strong identity of its own, but with equally strong links to Bicester and the surrounding area. Our aim now is to continue to work positively with all stakeholders allowing development to be brought forward swiftly and homes to be built to meet the urgent local need,” the spokesperson added. A key part of the ‘garden town’ plan for the area, the project ensures the amount of open space extends to 71.64 hectares, which equates to over 50% of the overall site. Over four hectares of sports pitches are also provided in one location. Adjacent to the shops and community facility, a new primary school is planned. Meanwhile, approximately eight play areas will be provided across the site including a destination play area which has been designed to be accessible to existing local residents, as well as new ones. In addition, up to 7 hectares of employment land provision has been included, which could provide around 750 high quality local jobs and a vibrant mix of uses within the scheme, together with creating a significant number of jobs through the development phase. The project team consulted with Historic England to redesign the area around the medieval village to the west of the site in order to better respect its setting.
A four year regeneration programme that will prolong Gentoo’s housing stock and ensure residents are living in high-quality, energy efficient and sustainable housing, within a safe environment, will be delivered by Engie’s regeneration business. The work includes re-roofing existing properties and undertaking gable wall repairs at the Racecourse Estate in Houghton le Spring and Town End Farm in Sunderland. As several properties have been identified as shortly needing repointing, brickwork, leadwork, fire breaks and topping up roof space insulation, Gentoo has committed to investing now, in an effort to future proof homes for their tenants. “This is a sensitive but vital project, in which resident welfare is the utmost priority. Gentoo has a very clear and direct vision of ensuring their housing stock is fit for purpose and their tenants are safe and happy. We have demonstrated our extensive abilities in this line of work and have the infrastructure in place to ensure we deliver a seamless and inclusive programme for residents,” said Andrew McIntosh, Regional Managing Director for Engie’s Places & Communities division. All work will be completed with residents in occupation, while Engie will be working openly and closely with the residents throughout the duration of the project to ensure disruption is kept to a minimum. Those who are affected by the programme of works will benefit from several consultation meetings and coffee mornings, as well as a dedicated resident liaison officer that will be on hand at all times. “As with all of our projects across the UK, we will also be looking to use a local supply chain and provide employment and training prospects for people in the area, including Gentoo tenants, to ensure we are putting as much as possible back into the local community,” Andrew concluded. As a leader in the energy revolution, Engie offers a comprehensive range of clean mobility solutions that transform the way energy is used. The Group has developed a systems-based approach that combines its skills and expertise in alternative fuels, transport infrastructures, smart transit systems, and upstream design and planning.
Gap Homes, a concept design of factory constructed, contemporary and cost-effective eco-homes, has been launched by the architects from international firm BDP’s Bristol studio. BDP is sponsoring the Bristol Housing Festival, which opens this week on the 19th of October with the launch exhibition that will showcase creative and innovative housing solutions. The new Gap Home prototype, designed specifically for small plots of land in towns and cities will also be present. “We are in dire need of new homes for a new generation. BDP’s eco Gap Homes will be quickly constructed, cost effective, sustainable and, most important of all, stylish, comfortable and practical to live in,” said Nick Fairham, architect director in BDO’s Bristol studio. “Disused garage plots on existing housing estates are an ideal location for these homes. Many of them have fallen into disrepair, becoming a magnet for everything from fly tipping to anti-social behaviour. Putting new, attractive and carefully designed houses in their place will not only help deliver much-need new homes, it will also bring new energy and life into these areas, revitalising neighbourhoods and helping to build stronger, more resilient communities,” he added. The eco-homes will be made in hi-tech factory conditions and assembled on site up to 40% faster than traditional construction, helping people move into their new homes sooner. Using smart design to make the best possible use of space, the homes incorporate maximum light and height and sophisticated design and storage solutions to give a sense of space, along with low energy services for modern living. With sustainability at the heart of Gap Home, the factory conditions used for the homes’ construction minimises on-site waste by up to 75% and uses materials that mean the final building has minimal energy requirements for heating, low energy lighting and renewable energy provision through solar panels on the roof, making them low carbon and low in running costs. In addition, due to the standardised elements and factory production, the homes can be produced at volume, keeping prices down whilst helping to meet high demand. A palette of materials and designs will be available allowing people to customise their own homes, including internal finishes, kitchens and bathrooms. The size of garage plots and other small urban spaces means the homes will have a compact footprint. Whilst meeting national space standards they will be an affordable option for first time buyers and those looking to downsize in later life.
Soil mixing solutions for foundations are being used for the first time by soil stabilisation and ground remediation specialist Deep Soil Mixing Ltd as an alternative to piling on a high quality housing project in St Mary’s Bay, Kent, aiming to prevent extreme settlements from variable ground. These works are shaving more than a year off the programme for a conventional ‘Surcharge’ solution as well as providing improved stability behind coastal defences for client Compass Builders Ltd. “In response to a foundation enquiry from the client’s consulting engineers Considine Ltd we put forward various options that soil mixing could provide to deliver a design solution that saved the client time and reduced cost comparable to alternative ground engineering solutions such as dig and cart away and piling. Deep Soil Mixing Ltd always advise getting involved with clients and their designers as early as possible in their development process to create engineered solutions that offer real cost savings for projects including real benefits such as reduced vehicle movements and the efficient use of onsite materials on their projects, which reduces the carbon footprint and offers environmentally friendly sustainable solutions,” said Deep Soil Mixing Ltd’s MD Robert McGall. The site is in an enviable position, close to a beautiful sandy beach with stunning views out across the English Channel and planning permission has been granted by Shepway District Council for the development which will be called ‘The Sands’ on a brownfield site of a former hotel and military base which has been demolished. The scheme will consist of a range of 3, 4 & 5-bedroom houses and 1 & 2-bedroom apartments and will also include a new landscaped coastal park area, car park and children’s play area. The Cutter Soil Mixer was specifically used on the St Mary’s Bay project to overcome some isolated areas of very stiff layers of clay which had softer soils below so it was necessary to mix through the clay into the soils below to enable remediation to take place. The project is due to be completed later this year.
A new research by Heriot-Watt University discovered that the UK has a backlog of 3.9 million homes, its biggest housing shortfall on record; meaning that 340,000 new homes need to be built each year until 2031. Central Bedfordshire alone needs to build 360 affordable homes each year until 2021 under the Strategic Housing Market Assessment. To make a start Central Bedfordshire College and a private developer have chosen ZEDPods, ready-made, quality starter-homes for a new development of 23 homes on college land. The one and two-bedroom houses, a break-through development in low cost, low carbon and high-quality homes, are fabricated off site. Their modular construction allows them to be rapidly erected on pieces of land not generally considered suitable for housing. With a variety of design options covering single or multi-occupancy sites, ZEDPod homes can be tailored for a range of accommodation needs, offering a viable, affordable solution to the keyworker housing crisis. “We are delighted that Central Bedfordshire College is able to support the local area needs and ZEDPods with the creation of environmentally friendly housing solutions. We look forward to working with ZEDPods to develop new courses teaching on modern forms of construction utilising the most cutting edge, eco-friendly construction techniques to our learners and to seeing the benefits that this innovation will have on our community,” said Ali Hadawi, Principal of Central Bedfordshire College. The ZEDPods are designed and developed by RIBA award-winning architect Bill Dunster, who will take advantage of existing city centre car park locations and hard standings across the UK. The homes are built to higher standards than conventional houses, being super insulated, triple glazed, with heat recovery ventilation, low carbon technology and lots of daylight. “As the pods are constructed from quality fireproof, durable and robust materials, they are designed to last as long as a traditionally built homes, The pods’ solar roofs generate more energy than the houses consume, so they will also have the lowest possible running costs,” explained Bill Dunster. ZEDPod owners will have their own balcony and front door, a kitchen and dining table, a bathroom, a lounge with stairs leading to a mezzanine floor bedspace, with home office desk, double bed, wardrobe and storage. ZEDPods will be sold with a ‘Q Assure’ mortgageable warranty.
Plans to give local firms a chance to secure work on a £500 million housing programme have been revealed by Liverpool City Council. Foundations, a new ethical housing company established by Mayor Joe Anderson, aims to create 10,000 new homes and refurbish dilapidated housing stock in Liverpool. “Foundations has the potential to be absolutely transformational in so many ways, such as by creating the right housing mix that the city needs and generating new council tax income which we can reinvest in services,” said Mayor Joe Anderson. “But crucially it is also vital that as part of the construction programme that we give as many local businesses as possible the chance to bid for work from Foundations. We’ve already got a good track record of doing that with our schools investment programme, with 74% of the spending going to Merseyside firms helping create 2,000 jobs and 200 apprenticeships – and we want to replicate that with Foundations,” he continued. The project aims to rebalance the city’s social housing stock, revolutionise the rent to buy sector and drive up council tax receipts for the council. Designed specifically for Liverpool- and Merseyside-based businesses, the framework will enable businesses to pitch for work as part of the derelict refurbishment and new build programmes. “The sheer scale of the work that Foundations will be doing over the next few years offers a tremendous opportunity to local firms, ranging from the supply of materials or fitting out properties,” commented Chair of Foundations, Frank Hont. “The procurement framework aims to recycle as much of the spending as possible locally through the city region economy, into the coffers of local businesses and ultimately the pockets of local workers, benefiting households across the city region. It is an example of how the work that Foundations will be doing will have far reaching benefits that stretches far beyond just building new homes,” Frank Hont added.
