Number of UK house sales jumped by a third after rates cut, before Budget October 21, 2024 Despite uncertainty about the coming Autumn budget, buyers continued to pile into the property market after the Bank of England cut interest rates, with the number of homes sold up by a third year on year. The number of sales agreed rose by 29 per cent, while the number of potential buyers contacting estate agents [...]
Landlords urge Reeves to offer Budget tax breaks amid ‘market uncertainty’ October 17, 2024 Private landlords groups have written to Rachel Reeves to urge the government to offer tax breaks amid “market uncertainty” ahead of the Budget. In a letter to the Chancellor prior to the 30 October fiscal statement, representative bodies including the National Residential Landlords Association (NRLA) said their members face “uncertainty on a number of fronts” [...]
The Debate: Should London’s suburbs be spikier? October 17, 2024 A housing crisis and London’s relatively flat skyline have prompted calls for building taller (or ‘spikier’) in the suburbs. Growth bros on Twitter are desperate for London to “densify”, i.e. cram more buildings into a smaller space by building taller structures or extending current buildings upwards. Yet London’s outer regions are typically flat with parks, [...]
Ibstock: Housebuilding is recovering, but rebuilding supply chains will take time October 17, 2024 Building supplies company Ibstock has said that it has seen early indications of a positive trend in the UK’s housing market, but a full recovery in end markets won’t happen soon. It said that it saw new-build residential activity improving, but that it “expect[s] this to take time to feed through into sustainably stronger demand [...]
Tory leadership: I’ll return us to ‘party of sound money’, Robert Jenrick pledges October 16, 2024 Tory leadership contender Robert Jenrick has pledged to return the Conservatives to “being the party of sound money”, if elected. The former migration minister outlined his economic plans in a speech this morning in which he admitted the Conservatives “abandoned fiscal responsibility in the mini-Budget.” Jenrick told an audience of journalists and MPs at a [...]
Marshalls: Revenue ticks down but recovery on the horizon October 16, 2024 Housing industry supplier Marshalls has reported another dip in revenue but has predicted a cyclical recovery in its key markets. The group, which is headquartered in West Yorkshire, said that revenue fell by three per cent year on year in the third quarter, a “material improvement”, from earlier in the year. Year-to-date revenue stood at £476m, down [...]
Starmer hands councils millions for housebuilding on brownfield sites October 15, 2024 The Government has committed £68m to unlocking brownfield sites in 54 local authorities as it looks to deliver on its election promise of 1.5 million homes by 2029. Around a sixth of councils will receive money to turn neglected land into new homes, which the government have said will “transform local communities and help families [...]
Bellway profit craters but shares jump on strong look-ahead October 15, 2024 Despite a significant drop in completions and profit, housebuilder Bellway has said it is well-positioned to deliver growth going forward and supports the Government’s plan to unlock housing construction. Shares surged by more than eight per cent in early trades. Bellway told markets this morning that profit fell by 44.6 per cent in the year [...]
If growth is the challenge then investment is the solution October 14, 2024 The UK needs to drastically improve its ‘fundamentals’ in housing, energy, transport and digital infrastructure in order to attract private investment, and today's summit is the right place to start, says Dan Tomlinson MP
Galliford Try hikes dividend as profit surges October 3, 2024 Galliford Try has reported a more than tripling in annual profit and hiked its dividend as the housebuilder's earnings surpassed analysts' expectations.