The Housing Secretary has announced a new partnership with Barclays Bank, providing £1bn of loan finance (ranging from £5m to £100m) to help support small and medium-sized developers. At the moment, around two-thirds of new homes are built by just ten companies. The Government’s delivery agency Homes England says the funding will put greater emphasis on opening up the housing market. Gov.uk
House prices could drop by 35% says Bank of England governor Mark Carney if there is a no-deal Brexit exit. Carney also said that a no-deal Brexit could be as damaging to the wider economy as the 2008 financial crisis. EstateAgentToday
Transport for London (TfL) is hoping to sign a partner for a joint venture project delivering around 3,000 build-to-rent homes on 10 of its sites. Interested parties can submit an expression of interest from 24 September, with building works starting by 2020/21. Inside Housing
Leeds Bradford Airport is planning a £12m extension. If approved, the new terminal is scheduled for completion by the end of 2019, with works commencing on re-modelling the existing terminal building to be completed for summer 2020. ConstructionEnquirer
New House in Multiple Occupation (HMO) rules that come in on 1st October (in England and Wales) means that an estimated 177,000 landlords will need licences for their buy-to-let properties – or face fines of up to £20,000.
The legislation broadens the definition of an HMO, bringing thousands of landlords under the scheme, and introducing new minimum requirements for the property. Which?
The LSL/Acadata index reports housing transactions are at their lowest for five years. Last month an estimated 79,900 transactions completed, down 4% on the same month last year, and the lowest since 2013. This puts the average house price at £303,199 – up just 0.1% on July.
With inflation standing at 2.3% and the average annual rate of house price growth at 1.8%, the report says this means an actual fall in prices. PropertyIndustryEye
A London flat owner had his £600,000 home seized by freeholder because he failed to tell her he’d had a new kitchen and bathroom fitted. Due to a forfeiture law, a freeholder is allowed to take ownership of a property if there is a breach in the lease. DailyMail
A deal has been agreed between US real estate investor Heitman and developer Brickland to develop two new Build to Rent schemes in Liverpool and Manchester. The residential developments in the heart of the cities and will be: “Bringing forward exemplary private rental schemes without cutting corners where rents will be affordable to the mass market.” PropertyInvestorToday
The UK residential property market is experiencing distinct regional variations, but overall it is stable in many parts of the country, according to the latest index report. The August survey by the Royal Institution of Chartered Surveyors (RICS) reports robust price growth and solid sales activity across Scotland and Northern Ireland while London, parts of the South East and East Anglia, are more sluggish. PropertyWire
Right to Buy replacement targets are failing. Under the Right to Buy one-for-one additions policy, local authorities have three years from the date of the sale of each home to provide an additional affordable property. Government figures show 17,059 additional affordable properties were started or acquired between the first quarter of 2012 and the first three months of 2018, behind the 21,265 that should have been provided to replace Right to Buy sales. PropertyIndustryEye
Catalyst – the SE housing association – has trebled its number of preferred contractor partners from seven to around 22. The firm anticipates spending £500m-£900m over the next four years across London and the South East. ConstructionEnquirer