Vistry to cut 200 jobs amid affordable housing shake-up October 23, 2023 Housebuilder Vistry said it will cut 200 jobs and make £40m less profit than expected as part of its shift into being a solely affordable housebuilder. Last month the London-listed firm it would focus solely on building affordable homes via its partnerships business after a volatile housing market eroded demand for building in the private [...]
Parliament urged to back renters reform bill amid fears landlord MPs could rebel October 22, 2023 Parliament has been urged to support the Renters Reform Bill which would end no-fault evictions despite fears landlord MPs could rebel against the legislation. Some MPs who own rental properties say they will be among landlords leaving the market due to what they call an “unconservative” policy on Section 21, according to the Telegraph. But [...]
London house prices fell by 1.4 per cent in August October 18, 2023 House prices in the capital fell further in August, according to the government’s latest house price index, as higher interest rates continued to weigh on the market. Data released by the Office for National Statistics on Wednesday showed the region’s house prices fell by 1.4 per cent in August year-on-year. London’s average house prices remained [...]
Gove in a fresh bid to scrap green housebuilding rules and slams Labour’s ‘crude, nimbyist appeal’ October 16, 2023 Communities Secretary Michael Gove has signalled the Government will make a fresh bid to scrap environmental rules to boost housebuilding. The House of Lords last month defeated an attempt by ministers to scrap EU-era rules that force developers to mitigate the impact new homes have on river health. Earlier in the month it was reported [...]
Keir Starmer’s speech: Five things to watch for October 10, 2023 Keir Starmer will make his speech at conference in Liverpool this afternoon in a bid to convince voters he can win the next general election.
London house prices slump again as high interest rates pile pain on mortgage holders October 6, 2023 London house prices cratered again in September as the Bank of England’s interest rate hikes continue to pile pain on mortgage holders and weigh on the housing market. House prices in the capital have fallen 4.8 per cent over the last year, the biggest fall of any region in cash terms at an average of [...]
House sales fall by 16 per cent amid increase in mortgage rates – as industry looks at shoots of recovery September 29, 2023 The number of house sales fell by 16 per cent in August compared with the same month a year earlier, according to provisional HM Revenue and Customs (HMRC) figures. An estimated 87,010 home sales took place across the UK last month, which was 16 per cent lower than in August 2022 but 1% higher than [...]
426,000 first-time buyers could vanish from property ladder by 2027 September 28, 2023 As many as 426,000 fewer first-time buyers in England could get on the property ladder between this year and 2027 compared with the long-term average, a building society predicts. Leeds Building Society, in partnership with specialist advisers WPI Strategy, analysed first-time buyer affordability between 1982 and 2022, and how the challenges of buying a first [...]
London tenants rattled by shock order to tear down Greenwich tower blocks September 28, 2023 A shock order from Greenwich Council to demolish two recently built residential towers because they did not have accurate planning permission has rattled the tenants currently living there. On Monday, borough officials announced that the Mast Quay Phase II development, constructed by Comer Homes last year, should be torn down as the finished building looked [...]
London sees 24 per cent drop in first-time buyers as high mortgage rates bite September 27, 2023 London experienced a 24 per cent decline in the number of first-time buyers entering the market in the last year as high mortgage rates crush home-ownership dreams.
