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The British Government has launched a £54 million fund to transform local communities and release land for thousands of new homes.

The Land Release Fund is in partnership with the Cabinet Office and Local Government Association’s One Public Estate programme to ensure local councils release some of their unused or surplus land for housing. This will help to meet the ambition to unlock enough council owned land for at least 160,000 homes by 2020.

Councils can now bid for funding for land remediation and small scale infrastructure, which will help bring sites forward for housing that would not have otherwise been developed.

Alongside this, One Public Estate is making £9 million funding available to support more councils to deliver ambitious property focused programmes.

The programme channels funding and support through councils to deliver ambitious property based projects. By 2020, councils on the programme are expected to deliver £615 million in capital receipts, £158 million running costs savings, create 44,000 new jobs and release land for 25,000 new homes.

This partnership between the Department of Communities and Local Government (DCLG) and One Public Estate will give local authorities greater access to support from across government and help them to release more land, more efficiently.

‘To build the homes this country needs, we need to increase the supply of land available to build more homes, more quickly. As a major landowner, local authorities have a crucial role to play in this task,’ said Housing and Planning Minister, Alok Sharma.

‘Through this innovative cross Government partnership, we will be able to work with councils much more effectively, helping them to meet local housing needs and transform local areas,’ he added.

OPE already works with over 70% of councils in England to transform local communities and services through large scale economic growth, delivering new jobs and new homes.

Such partnerships also deliver substantial efficiency savings for the taxpayer, joining up public services under one roof and making it easier for communities to access them.

Through this partnership between DCLG, Cabinet Office and the LGA, and the variety of different funds available it is hoped that local authorities will be able to combat multiple barriers to land development and deliver many more homes at a faster pace.

Source: www.propertywire.com

August 4, 2017

Added by D_Property at August 4, 2017

Government fund announced to release land for new homes in the UK

The British Government has launched a £54 million fund to transform local communities and release land for thousands of new homes. The Land Release Fund is in partnership with the Cabinet Office and Local Government Association’s One Public Estate programme to ensure local councils release some of their unused or surplus land for housing. This will help to meet the ambition to unlock enough council owned land for at least 160,000 homes by 2020. Councils can now bid for funding for land remediation and small scale infrastructure, which will help bring sites forward for housing that would not have otherwise been developed. Alongside this, One Public Estate is making £9 million funding available…

August 4, 2017

Added by D_Property at August 4, 2017

Build-to-rent during 2017’s second quarter – in 5 charts

The British Property Federation (BPF) has put together its quarterly overview of the build-to-rent sector, including its build-to-rent map giving an overview of all developments in the UK. The BPF has put together a detailed overview of what’s been happening during Q2 of this year in the country’s build-to-rent market. As a growing sector, build-to-rent has become instrumental in order to fix Britain’s housing crisis. Build-to-rent is the part of the UK’s property market where homes are purposefully built in order to be rented out and owned by institutional investor. They are usually managed by specialist operators, often with on-site management teams. Here are some of the key findings from the BPF…

August 4, 2017

Added by D_Property at August 4, 2017

Rents in England and Wales increase by 1.6%

Rents within the private sector went up by 1.6% between May and June in England and Wales and have now reached an average of £827 per month, the latest data reveals. The buy-to-let index put together by Your Move showed that rents either remained the same or increased in all areas across England and Wales from May to June. The North West and West Midlands saw the biggest rise with 0.3% (bumping prices up to £629 and £609 respectively). In Yorkshire and the Humber, the East Midlands and the South East rental prices experienced an increase of 0.2%. However, on an annual basis Wales noticed the biggest growth in rents as costs increased by…

August 4, 2017

Added by D_Property at August 4, 2017

Biggest Build to Rent development in UK gets £65 million Government boost

The biggest development of homes built specifically for the private rented in the UK is set to receive a £65 million boost from the Government. With the country needing over a million new homes in the coming years, the Government believes that Build to Rent can provide a large number of them, especially in locations like London. Now a development of 7,600 high quality new homes at the Wembley Park development in Brent, one of the largest strategic regeneration projects in the UK, is to get the multi million pound boost. According to Housing Minister Alok Sharma, the development, which will have at least 6,800 home to rent, will offer more choice for…

August 3, 2017

Added by D_Property at August 3, 2017

Demand in Prime Central London up 25%

New research from hybrid estate agent, eMoov.co.uk, has revealed that Prime Central London is starting to find its feet again after two years of declining buyer interest. Demand levels across PCL are currently at 13% on average, up +25% in the last six months and +39% annually. Current Demand As far as current buyer demand goes, Chiswick is the hottest area at 32% and is likely benefitting from its close proximity to Acton and the over spilling benefit and impending opening of the Crossrail service. There is no surprise that both Islington (25%) and Camden’s Belsize Park (18%) are some of the hottest as far as demand goes, recent data from Zoopla shows that both boroughs…

August 2, 2017

Added by D_Property at August 2, 2017

First time buyers have to compromise but generally find it an exciting experience

Buyers in the UK are increasingly looking wider afield or their first home and despite the costs and financial pressures of getting on the housing ladder they see it as an exciting time of their life, new research suggests. Many first time buyers who have bought in the last two years say that they had to make compromises, with locations being a major one as they sought properties within their budget. Some 70% ended up buying a home an average of 26 minutes away from their original and preferred location, according to the study from Post Office Money. While 16% didn’t have to adjust their expectations at all, 5% compromised in terms of having a suitable…