Recast Property

04/02/2025

Sorry, but told you sooo! Check my sarcastic comment on August 1st, further down. Here is the first evidence that it is easier to 'throw' numbers than to deliver them:

The rate of housebuilding has dropped by 10% since Labour came to power in July, deepening the task of increasing construction in the UK. BBC Verify found that 107,000 new homes were recorded since last July’s election, with every region of England seeing a year-on-year reduction. The steepest

18/11/2024

The average UK residential sales price hit a new record in October.

This means homebuyers can now expect to pay £293,999 for a typical property in the UK, which is slightly higher than the last reported peak (in June 2022) of £293,507. From a year-on-year perspective, prices have gone up by 3.9%.

And the graph from Halifax with the real change and moving average growth trends in the pic.

08/11/2024

https://www.rightmove.co.uk/news/articles/property-news/base-rate-cut-nov24/

The Bank of England has announced that it will reduce the Base Rate by 0.25%, to 4.75% this month – the second reduction this year.

01/11/2024

The most important points of Labour's first budget in 14 years wrt the housing market. Source: Lichfield's article, see link further down

Housing
£5bn ‘settlement for housing’ investment announced in the spring (Phase 2 of the Spending Review).

£3bn to support SME builders and build to rent schemes through housing guarantee schemes which give access to low-cost loans for those operating within this field.

£70m in 2025‑26 to “support infrastructure and housing development while boosting nature’s recovery”. This will include £14m for the Nature Restoration Fund, which seeks to offset against environmental impacts of development, and £13m to expand Protected Sites Strategies. How the remaining £43m in this pot will be spent is unclear.

£47m to unlock sites stalled by nutrient neutrality, plus £100,000 for catchments over 10,000 hectares in size, potentially delivering up to 28,000 homes.

Reduction of the discount on Right to Buy scheme introduced in 2012, the receipts generated by sales can be kept by councils.

£500m “top up” of affordable homes programme, funding 5,000 new affordable homes.

£56m for 2,000 new homes at Liverpool Central Docks.

A consultation on a 5-year social rent settlement aimed at capping rents for tenants and providing certainty to the market.

https://lichfields.uk/autumn-budget-2024

24/10/2024

National house prices rising for first time in two years, says RICS:

New listings are also up (+22%), up from the previous month's and demand from buyers recorded a +14%, the third month in a row indicating growth.

The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

22/08/2024

Slowly, but mortgage rates move in friendly territory

Nationwide Building Society has launched a mortgage rate at 3.78% for a 60% LTV 5-year fixed rate – currently the lowest on the market. The catch is it comes with a £1,499 fee, it’s only eligible for existing customers moving home, while borrowers need a loan of at least £300,000 to qualify. A

01/08/2024

OMG... Why not 500k? Why not one million a year? Because those numbers would sound unrealistic?

The Labour Party has increased the annual housebuilding target from its manifesto pledge of 300,000 to 370,000. This would bring the number of homes delivered to 1.85 million in five years. Angela Rayner, the deputy prime minister, said the UK is on track to build under 200,000 homes in 2024,

05/07/2024

The following UK housing update was created by the AI agency, Thraive.co.uk

21/06/2024

https://www.propertywire.com/adviser-news/what-due-diligence-should-you-carry-out-when-purchasing-land-for-development/?utm_source=Propertywire+Membership+List&utm_campaign=e610823d1d-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_c8c0d61c5b-e610823d1d-29789941

Yulia Barnes, the founder and managing partner of Barnes Law Land and property are among the few assets that typically appreciate in value, making them highly appealing to both individual and corporate investors. Even with recent interest rate increases, investing in land and property continue

20/06/2024

https://www.propertywire.com/news/uk/labour-party-meets-with-blackrock-and-lloyds-to-prepare-for-government/?utm_source=Propertywire+Membership+List&utm_campaign=26f3a88706-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_c8c0d61c5b-26f3a88706-29789941

The Labour Party’s shadow chancellor Rachel Reeves has been meeting with banks and asset managers like BlackRock and Lloyds Banking Group as the party looks to hit the ground running on housing and energy plans. Members of the British Infrastructure Council, which act as an independent advisors,

19/06/2024

https://www.wrighthassall.co.uk/knowledge-base/land-promotion-agreements-what-are-they-and-how-do-they-work

A land promotion agreement is a legally binding contract between a landowner and a land promoter. Such an agreement enables the landowner to have access to the promoter’s experience, expertise and financial resources to obtain planning permission for development on the landowner’s property. The ...

07/06/2024

Stealth taxation of small-time developers.

The government’s move to abolish Multiple Dwellings Relief has been branded a “stealth tax” that could hamper developments, according to David Hannah, group chairman of Cornerstone Tax. The change means those buying multiple dwellings in a single transaction, such as houses with flats or mixed...