Housing secretary Steve Reed ‘overly optimistic’ for betting jobs on housing targets Property The government’s housing secretary, Steve Reed, continues to be optimistic about the chance of a pledge to build 1.5m new homes in England despite mounting concern about delays. Earlier this week, Reed said that he would “absolutely” meet the goal and widespread scepticism would make “celebration all the sweeter”, he told BBC Panorama. “My job should be on [...]
FTSE 100 flirts with record high but falters once more Markets The FTSE 100 once more narrowly missed on a record closing high on Wednesday after faltering in the final moments of the trading session. The UK’s flagship index edged up 0.13 per cent to 8864.35p. This brought it just short of March’s record close of 8871.31p. Housebuilders topped the morning risers with Persimmon and Barratt [...]
Bellway’s profit jumps amid soaring output Property Bellway has reported a 12 per cent rise in profit, alongside a significant boost in its output – in an indication that the housebuilding sector is seeing a rebound. Profit before taxation has risen to £150.2m, from £134.2m last year. The firm reported 4,577 housing completions in the half-year to January – up from 4,092 [...]
Regeneration of iconic east London Gasworks gets green light March 17, 2025 The redevelopment of Bromley-by-Bow gasworks, set to create more than 2,000 homes, has been given the go ahead by Newham council. Berkeley Group company St William, in collaboration with Historic England, will invest millions in turning the 23-acre brownfield site into a multi-use residential and public space. St William’s managing director, Dean Summers, called it [...]
Berkeley warns planning reform won’t solve overregulation of housebuilding March 14, 2025 Housebuilder Berkeley has warned that continued incremental regulatory changes will continue to place significant pressure on the delivery of new homes, despite the recently-announced planning reforms. Regulation on the construction of homes has increased recently, particularly in light of the Grenfell tragedy. The Building Safety regulator, which sets out rules to protect the design and [...]
Green light finally expected for £2.5bn Barratt and Redrow mega-merger August 28, 2024 The £2.5bn mega-merger of housebuilders Barratt and Redrow looks set to be finally given approval by the Competition and Markets Authority (CMA). The watchdog launched an investigation into the proposed deal in June after it was first announced in February. Now, the watchdog has said it considers that there are reasonable grounds for believing that [...]
Ibstock profit slashed as ‘exceptionally wet weather’ hits construction industry August 7, 2024 Sales and profit at building supplies company Ibstock has continued to fall as “exceptionally wet weather” badly affected the construction industry. The London-listed firm, which is headquartered in Leicestershire, saw its revenue drop 20 per cent to £178m in the first six months of 2024, down from £223m last year. Ibstock said this decrease was [...]
Shares in Persimmon, Vistry and Barratt soar as Labour victory boosts market outlook July 5, 2024 Shares in property firms Persimmon, Vistry and Barratt have surged this morning as analysts label the Labour landslide victory a "positive" for house builders.
Cost inflation and weak demand hurts Speedy Hire as construction sector struggles continue April 10, 2024 The group expects to announce its results for the financial year ended 31 March 2024 in mid-June.
House prices: March only slowing property growth, not reversing it April 5, 2024 The price of a home grew by just 0.3 per cent in March, slowing down from a 1.6 per cent rise when compared to the previous month.