Next month’s Budget will contain measures that make it easier for commercial properties across England to be converted into private dwellings, the BBC has reported. The move will cut the red tape involved in the planning process and could help create up to 250,000 new homes. Last week, the Institute for Public Policy Research claimed [...]
homes
Barratt sales slip on mortgage restraints
Barratt Developments sold 4,832 homes during the second half of 2010, compared with 5,053 in the previous six month period, with underlying selling prices remaining stable.
However, private reservations per active site per week were down slightly to 0.39, reflecting weaker customer sentiment, and cancellation rates increased to 20.1% (H1: 17.8%).
Forward sales as at 31st December [...]
No autumn upturn for Persimmon
Persimmon has reported that it sold 9,384 homes in 2010, up slightly from a 2009 total of 8,976.
However, the housebuilder did not experience the usual level of upturn in sales during the autumn, with the situation compounded by the severe weather conditions at the beginning of the winter, reducing sales activity further.
The group, which includes [...]
New rules for councils seizing empty homes
Communities Secretary, Eric Pickles, has announced changes to rules that have allowed local authorities to seize homes that are left empty for six months and more.
In 2006, the previous Government introduced Empty Dwelling Management Orders, which according to Mr Pickles give councils the right to seize empty property after too short a period, and even [...]
Homes no longer investments for old age
The era in which Britons saw their homes as investments for retirement is over, according to housing minister, Grant Shapps.
In a recent interview with The Guardian, Mr Shapps argues in favour of a stable housing market, which he describes as a market with slow-rising prices that could result in prices dropping, in real terms, over [...]
Spanish Banks to put “huge quantity” of homes on market says expert
Spanish banks will have to put a “huge quantity” of repossessed homes on the market over the next few months, said Juan Iranzo, Managing Director of the Institute of Economic Studies (IEE), during the presentation of a new book on the Spanish economy and housing market, sponsored by the savings bank Bancaja.
According to Iranzo, the banks are sitting on 100,000 of Spain’s 700,000 unsold new homes, which they will now have to dump on the market. Thanks to new rules from the Bank of Spain forcing banks to increase their provisions on unsold properties, which took effect in January, Iranzo also expects the banks to drop their prices in search of sales. He pointed out that banks need to improve their balance sheets by selling property, though it is unclear how selling property at a loss will help do that.
What green shoots?
There has been some talk recently in the mainstream Spanish media about an incipient recovery in the housing market, but according to Iranzo the housing sector will get “quite a lot worse” this year, thanks to the recession and increasing unemployment. “The outlook doesn’t favour the house purchases,” remarked Iranzo. He warned that prices still have room to fall, and that interest rates will go up towards the end of the year, putting further pressure on prices.
“Never again”
A glut of newly-built properties isn’t the only problem the market is having to deal with. Demand has also retrenched massively, and may not pick up until 2012 or 2013, says Iranzo.
When does he expect demand to return to the boom levels of 700,000 homes a year? “Never again,” says Iranzo, who expects demand to stabilise around 450,000 homes per year in 2012.
It is important to note that Iranzo is basically talking about the market for primary housing in and around Spanish cities, not holiday homes on the coast. Some experts expect the quality holiday home market to recover much quicker, thanks to supply limits and internationally diversified demand.
Link to original article and more Spanish property information
“What House?” Award won by Stewart Milne Homes
Stewart Milne Homes has achieved a national What House? Best Interior Layout award for its collection of townhouses at Greenwood Manor in Newton Mearns.
The housebuilder picked up the award on Friday 20 November, surpassing a host of UK-wide competitors.
John Slater, Stewart Milne Homes, group managing director, said:
“Winning this award is a great coup for Stewart Milne Homes. The collection of townhouses at Greenwood Manor is a real showpiece for the company, illustrating our excellence in building the highest quality, stylish product that is designed to meet the needs of the modern buyer.
“The award for Best Interior Layout recognises the level of innovation and flair demonstrated in these designs and rewards the expert combination of imagination and practicality offered by each home, particularly our approach to space and flexibility.”
The What House? Awards are considered to be the Oscars of the housebuilding industry and showcase some of the UK’s most exciting and dynamic new developers as well as highlighting the innovations of the industry’s major players. This year’s awards mark an even greater achievement for house builders who have successfully sustained quality of product despite the economic downturn.
John Slater continues: “Despite these challenging times, we have remained committed to delivering the same quality products and service that our reputation has been built on. This national award for Greenwood Manor is a superb recognition of this, especially as we continue the company’s drive into England.“
The award-winning townhouses at Greenwood Manor bring a whole new class of property to the newbuild market. Interior layouts combine traditional design features with key elements of modern living to offer practicality with style. Spread over three floors, each layout makes the very most of the space, whilst maximising light and offering flexibility. Designed to make an impression, key property features include grand entrance halls with oak staircase, exceptionally large living rooms with twin sets of windows providing elevated views of the garden, and spacious open-plan breakfasting kitchens. Additional spaces include an entrance vestibule, separate dining room, utility room, allocated storage and integral garage.
The townhouses also incorporate exclusive attributes such as a top floor master suite with private balcony, walk in closet, and luxurious ensuite. Combined with a ‘platinum’ specification and highest quality finish, these homes are effortlessly set apart in the newbuild marketplace.
Greenwood Manor four bedroom townhouses are priced from £425,000. For further details, contact the showhomes and marketing suite on 0141 639 9990, open Thursday to Monday from 10.30am until 5.30pm. Alternatively, visit http://www.stewartmilnehomes.com
Press Release Contact Details:
Debbie Standen CM Porter Novelli 45 Hanover Street Edinburgh EH2 2PJ 01314703400
