Posts tagged building programme
“Deputy Prime Minister Nick Clegg says on TV that the Government’s planning changes are boost to solo traders in the trades”
The government is easing the planning rules on extending homes in England as part of a package to boost housebuilding and stimulate economic growth.
The Prime Minister and Deputy Prime Minister have announced a major housing and planning package which is set to build 70,000 new homes and create up to 140,000 construction jobs.
Speaking to BBC News this morning Nick Clegg said that people will be allowed to build up to 8-metre larger extensions to their houses without needing a planning permission. He argued that the relaxation of the planning regulations will create jobs and boost those professionals who are already working in the trades.
Clegg said: “The planning changes mean that people will get the local builder to extend their kitchen or conservatory which will create jobs and stimulate economic activity.”
The Deputy Prime Minister said that the package announced today includes investing hundreds of millions of pounds into building more affordable homes as well as a £40 billion guarantee for infrastructure projects to support the building construction industry.
The Prime Minister, David Cameron, said in a statement that the Government’s announcement will help people to build new homes and ‘kick-start’ the economy.
Mr Cameron said: “We’re determined to cut through the bureaucracy that holds us back. That starts with getting the planners off our backs, getting behind the businesses that have the ambition to expand and meeting the aspirations of families that want to buy or improve a home.”
- Removing restrictions on house builders to help unlock 75 000 homes currently stalled due to sites being commercially unviable. Developers who can prove that council’s costly affordable housing requirements make the project unviable will see them removed.
- New legislation for Government guarantees of up to £40 billion worth of major infrastructure projects and up to £10 billion of new homes. The Infrastructure (Financial Assistance) Bill will include guaranteeing the debt of Housing Associations and private sector developers.
- Up to 15,000 affordable homes and bring 5,000 empty homes back into use using new capital funding of £300m and the infrastructure guarantee
- An additional 5,000 homes built for rent at market rates in line with proposals outlined in Sir Adrian Montague’s report to Government on boosting the private rented sector
- Thousands of big commercial and residential applications to be directed to a major infrastructure fast track and where councils are poor developers can opt to have their decision taken by the Planning Inspectorate.
- Calling time on poor performing town hall planning departments, putting the worst into ‘special measures’ if they have failed to improve the speed and quality of their work and allowing developers to bypass councils. More applications also will go into a fast track appeal process.
- 16,500 first-time buyers helped with a £280m extension of the successful ‘FirstBuy’ scheme, which offers aspiring homeowners a much-needed deposit and a crucial first step on the housing ladder.
- For a time limited period, slashing planning red tape, including sweeping away the rules and bureaucracy that prevent families and businesses from making improvements to their properties, helping tens of thousands of home owners and companies.
Many Victorian homes across England which were used for social housing in the slump are to be sold off to raise a £4.5 billion investment to fund the largest social house building programme in England since the 1970s.
Selling social houses worth more than £177,000, the median house price in England, will raise billions of pounds that could be used to build more than 100,000 new homes every year, creating up to 340,000 new jobs in the building engineering industry, a new report by the UK’s leading think tank, Policy Exchange, revealed today.
The think tank says that selling off social housing worth more than the average property in each region* could create an unprecedented housing building scheme which will generate thousands of jobs for trade professionals, including electricians, plumbers and gas-engineers.
According to the report, named “Ending Expensive Social Tenancies”, urging the sale of social housing in more expensive areas and the reinvestment of funds to build more homes will bring economic growth and raise significant financial investment each year.
The scheme is set to reduce the housing waiting list by between 250,000 to 600,000 households in five years.
The report found:
- Expensive social housing accounts for over a fifth (21.8%) of the total social housing stock in the UK. This equates to 816,000 out of a total of 3.78 million properties.
- London has the highest proportion of stock (30.7%) and the North East contains the lowest (14.8%)*
- The total value of expensive social housing is £159 billion. London contains social housing worth £71.9bn while the North East has £4.4bn worth of expensive social housing stock
- Approximately 3.5% of this stock becomes vacant a year due to people moving out or dying. This means that the government could sell a total of 28,500 properties on the open market each year. This raises £5.5 billion a year.
- After paying off the debt held against the stock, the total figure raised is £4.5billion.
*The percentage of expensive social housing above the median value varies by region (adjusted by bedroom size)
|Region||Total Number||Percentage||Value of properties above median|
|Yorkshire and the Humber||79,516||19.3||£9.23bn|
|East of England||97,760||26.0||£17.bn|
What is your reaction to the new proposals to sell off expensive social housing and build hundreds of thousands new homes every year? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter page.
Barratt Developments PLC is today issuing a trading update for the Company and its subsidiaries (the “Group”) for the year ended 30 June 2012 ahead of its annual results announcement on Wednesday 12 September.
- Group revenues up by c. 14% for the full year to c. £2,320m, with total completions of 12,637 units
- Group operating profit before exceptional items for the full year expected to be up by c. 41% at around £191m
- Operating margin expected to increase to c. 9.5% in the second half and c. 8.2% for the full year, up from 6.6% in the prior full year
- Full year profit before tax and exceptional items expected to increase by c. 158% to c. £110m
- Net debt almost halved against the prior year to c. £170m as at 30 June 2012, significantly lower than previous guidance
- Private forward sales up 34.6% to £378.4m as at 30 June 2012
Mark Clare, Group Chief Executive commented,
“This year has seen a rapidly improving performance across the Group and shows that our strategy is delivering, with profits up more than 150% and an almost halving of our net debt. We expect to make further good progress in the year ahead thanks to a strong forward order book, with private forward sales up 35% and more higher return land
Barratt Developments has made significant progress in both rebuilding profitability and reducing indebtedness during the year just ended. Despite continued uncertainty surrounding the outlook for the wider UK market and constrained levels of mortgage finance, the industry has enjoyed a period of relative market stability. Looking ahead, we expect the Government’s housing initiatives, in particular its mortgage indemnity scheme NewBuy, to continue to provide the industry with support.
In the current financial year we expect to make further good progress with more than half of completions forecast to be delivered from our more recently acquired higher margin land.
What do you think of the positive performance by one of Britain’s largest housebuilders? Share your opinion by commenting here or raise your voice on our Facebook page.