Posts tagged housing market
House builders will have the chance to put their bids forward to deliver major building work which could boost the London economy by £2 billion and create new jobs in the construction industry.
According to the Mayor, injecting such significant investment in the housing market could contribute £1 billion worth of construction projects across the city.
The Mayor has said that all ‘reusable investment’ from this funding boost will be reinvested for the building of more affordable homes over the next decade.
Motor Johnson said “To improve the housing choices of those who work to make this city the fantastic place that it is, I am opening up the market, cutting red-tape and injecting £100million worth of investment to stimulate supply.
“The programme we are announcing will not just unlock the door to home ownership for thousands more Londoners, it will give a welcome shot in the arm for jobs in the capital’s construction industry and spur wider economic growth too.”
The first homes are expected to be available for sale in early 2013 with completions ranging up until March 2016.
As reported by BBC News today, homebuilder Redrow has announced plans to raise £80 million of new shares to fund its expansion plans, which will create growth opportunities for the building construction sector.
Redrow has secured planning for more than 3,000 plots across the UK and acquired new sites totalling £50 million which are likely to create more employment opportunities for trade professionals. The housebuilder told the Financial Times that it intended to acquire more land ‘as and when opportunities arose’, as well as developing land bought cheaply during the recession.
Steve Morgan, Executive Chairman at Redrow, outlined the significant growth opportunities for the London area and other regions by saying that the firm will continue to follow its existing strategy for growth.
Mr Morgan, who is also the owner of Wolverhampton Wanderers Football Club, said Redrow has made good progress in selling high-quality family homes and that the firm will continue to pave the way for more work in the future, increasing confidence in the housing market.
He said: “We now believe the time is right to accelerate that strategy by taking advantage of the development opportunities we see.”
What is your reaction to the announcement by housebuilder Redrow to raise significant investment and boost the housing market? How do you think trade professionals could benefit from this? Share your thoughts by leaving a comment below:
In a drive to boost the housing market and accelerate the building of new properties in the capital, the Greater London Authority (GLA) is seeking developers to join a new £5 billion procurement panel which will open more work for external contractors and building developers, Construction News reported today.
From 2013 the new housing procurement panel will replace the current Homes and Communities’ Agency, the London Delivery Partner (LDP). It is going to be managed directly by the GLA, speeding up the process for building private and social houses as well as improving the development of properties in the public sector.
The new panel will recruit up to 28 building firms that employ thousands of workers in the building construction engineering sector. This could provide more employment opportunities for trade professionals.
A bidding process is currently open to any firms that are capable of delivering housing developments, raising sufficient finance and improving community facilities. Interested developers need to apply before 4th May 2012 and successful bidders will be awarded by 1st April 2013.
The scheme is expected to increase competition between contractors and improve current housing standards as well as optimise the process of marketing and selling new homes in the capital.
What’s your reaction to the £5 billion fund which will give the Greater London Authority more control over future housing developments in the capital? Share your thoughts by leaving a comment below:
One of the UK’s largest building distributors, SIG, has reported a rise of 3.9% in sales of building materials for the construction industry. The positive news comes as the demand for contractors, builders and construction companies continues to rise due to a return in confidence in the housing market.
Growth figures are considered to be a result of improved trading conditions and recent government investments aiming to boost the building construction sector.
The government made the announcement this week to help up to 100,000 people in England buy their own homes. The recent scheme,‘NewBuy’, will further increase demand for new build homes and unlock the housing market, Prime Minister, David Cameron said on Monday.
SIG’s pre-tax profits reached £81.7 million when the group is planning to open more than 15 new branches in the future. The current housing shortage in the UK is expected to encourage building of more new homes as well as increase employment across the construction sector.
Chief Executive at SIG, Chris Davies, thinks that despite the current uncertainties in the macroeconomic environment the company will continue with its positive performance.
Mr Davies said: “We enter 2012 as a much leaner, stronger and more focused organisation. Sales per day in constant currency so far this year were around 1% ahead of strong prior year comparators, despite the impact of severe weather across mainland Europe in February this year.”
What is your reaction to the improved sales figures of SIG, suggesting that the construction sector is better now off than it used to be a few years ago? Share your thoughts by leaving a comment on Train4TradeSkills’ Facebook and Twitter pages: