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Neighbourhood watches as Barratt is forced to innovate

May 31, 2011 By Leave a Comment
The House Builders Associations welcomes NewBuy mortgages but warned it could create further barriers for smaller house builders.

Being short of cash is not the ideal for a housebuilder when most rivals are scrambling into the land market. But constrained resources can concentrate the mind wonderfully. The latest stock market announcement from one of the more financially encumbered groups, Barratt, suggests it is applying more innovation than some of its flusher rivals. Barratt’s interim management statement on 11 May revealed that its net debt remained significant, at a forecast June year-end level of £450m. Average net debt for 2011/12, however, could be as high as £933m. I estimate that the cash … [Read more...]

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House shortage fears grow as number of new homes built drops 17pc

May 31, 2011 By Leave a Comment

Concerns are increasing over the shortage of houses being built in Britain after industry figures revealed the number of approvals for new developments has fallen further this year. Housebuilding in the UK fell last year to its lowest level in 90 years Photo: Newscast An analysis of data from local authorities shows fewer than 38,000 new homes were granted planning permission in the first quarter, 17pc lower than a year ago and almost half that of five years ago. This is despite the Government making increased housebuilding a key policy and … [Read more...]

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Italy is now the fifth most popular country in the world among individuals searching for homes.

May 31, 2011 By Leave a Comment
italian-property

Italy has seen a marked increase in the number of searches for property in the past month, it has been revealed. Leading real estate portal Rightmove has revealed that the destination is now the fifth most popular country in the world among individuals searching for homes. Italian property started the year as the sixth most popular with 5.6 per cert of the total search volume, but searches have increased by over 50 per cent compared to previous months. The news could encourage a number of potential overseas property owners to consider buying a home in Italy. Meanwhile, an … [Read more...]

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Tree house builders living the high life in Norfolk

May 31, 2011 By Leave a Comment
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It could either be the dream environmental home or realising a childhood fantasy – the chance to live the high life among the treetops. And that’s exactly what was on offer for the excited group who spent the weekend living with nature and taking part in a professional tree-house building course in Norfolk. The majority of those who went down to the woods at West Lexham Education Centre – just off the main Fakenham-Swaffham Road – certainly gave themselves a big surprise as they helped create a remarkable construction. It was no ramshackle “Famous Five” hideaway and … [Read more...]

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Housing market fears as ‘generation rent’ keeps away from property ladder

May 31, 2011 By Leave a Comment
to let

Survey shows high prices and hefty deposits means two-thirds of would-be first-time buyers are unlikely to buy a home in the next five years Two-thirds of potential first-time buyers have no realistic prospect of owning their own home in the next five years and lack the long-term saving mentality they need to get onto the housing ladder, according to a report on home ownership by one of the UK's biggest mortgage lenders. Owning a home has been a priority for most Britons since the 1950s when living standards began to rise, but the Halifax says that the high cost of property, strict … [Read more...]

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Think-tank warns FSA over mortgage restrictions

May 31, 2011 By Leave a Comment
How to value your home.

BRITAIN’S banking regulator should restrict mortgages to three-and-a-half times income to prevent future housing crashes, a leading think tank has warned. The loans should also be capped at 90% of the property’s value, according to the Institute for Public Policy (IPPR). The call comes just weeks after it was predicted that Scotland will not see a recovery in its property market for another two years, as the fall out from the recession continues. House prices rose rapidly over the last decade as it became easier to get credit and banks offered mortgages at five or six times … [Read more...]

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Miller starts on Scottish sites worth £65m

May 31, 2011 By Leave a Comment
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Miller Construction’s Scottish region has started work on three projects worth £65m during the last week. Ground Breaking ceremonies have taken place to mark the start of works on site, at the £49m Robert Gordon University, Aberdeen; £9m Dreghorn Primary School, North Ayrshire and a £7.3m contract at Eurocentral, Lanarkshire. Brian McQuade, Managing Director, Scotland, Miller Construction, said: “We are delighted to have been able to mark the commencement of works on three projects in almost as many days. “The contracts at Robert Gordon University and Dreghorn Primary … [Read more...]

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Property market enjoys a busier month in May

May 31, 2011 By Leave a Comment
Estate Agents

The housing market has made up the lost ground experienced in April, if estate agency boards are anything to go by. According to Agency Express, a national firm of board erectors, the number of For Sale signs converting to Sold in May was up 4.7% on the previous month’s figures, although still 2% lower than in May last year. Geographically, sales activity was very patchy. The partial recovery was led mainly by activity recorded in the North of England and the Midlands. The North-East saw growth in houses sold of 16.7% just ahead of the North-West which saw a rise of 16.6%. In … [Read more...]

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Villagers accuse National Trust of cashing in on garden ‘legacy’

May 31, 2011 By Leave a Comment
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SCOTLAND'S leading conservation charity has sparked fury by deciding to sell off a community garden in a historic hamlet - despite benefiting from a £1 million legacy for more than 30 years from a local campaigner. Christina McNiven left her entire estate to the National Trust for Scotland (NTS) in 1978, including her home in Duddingston, Edinburgh, with instructions it be used to benefit the village. After her home was sold off, some of the money was used to pay for a variety of environmental improvements in the area, as well as a separate plot of derelict land that was … [Read more...]

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Here’s why the next Facebook could be British…

May 31, 2011 By Leave a Comment
social media icons

US companies have dominated the web, but Nick Clark says a search for the next big thing could return some .co.uk hits The social networking group LinkedIn enjoyed soaraway success as it debuted on the public markets this month; the scramble for shares doubled their value on the first day of trading. Excitement is crackling around the US technology sector again, with investors desperate to pick up shares in the next big thing when it lists. Many hope they will be able to buy into companies including Zynga and Facebook. Yet there has been little talk about the digital companies … [Read more...]

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