The Market
Out With the New (World): Global ultra-prime property market slowing
The top-top end of the world's resi property market is calming down, growing more slowly in "new world" destinations as the "old world" takes the mantle for market growth on the back of perceived safe…
“Use By” date mooted for land banks; 23% of planning permissions are on hold or shelved
Nick Boles has laid out plans to set a time limit on planning permissions to put a stop to developers building up "land banks" of undeveloped schemes.
Transaction levels hit 5 year high as supply and demand diverge
Resi transactions "saw a big jump" last month, according to the RICS, with the average Chartered Surveyor selling an average of 20.
“Risk of over supply” of London prime property – Savills
There's a "risk of over supply" of new prime property in London, despite the need for 50,000 new homes in the capital's lower-end market, says Savills.
Global luxury property prices stall
It's time to go macro for a bit. Knight Frank has taken its quarterly check-up of 27 prime markets around the globe and reckons price growth has started to stall.
Here's the key findings:
Forecast Watch 2014: PCL +3.5%; UK +4.4% – Strutt & Parker
Next year's looking alright for the prime property market, thinks Strutt & Parker, but then it all goes a bit sorry. This year's +6% price performance in PCL will be followed by a 3.
Autumn Statement date set for 5th December
We all know that Christmas gets earlier every year, but that Autumn happens in December is news to us;
London councils challenge office-to-resi rights
Camden, Islington, Lambeth and Richmond councils are limbering up for a High Court challenge to permitted development rights that allow the conversion of office space to residential use.
Resi construction credit crunch “far from over” as lending shrinks 10% in five months
Lending for residential property construction has dropped by 42% over the last three years, and by 10% since Help to Buy launched in April, according to law firm EMW.
Understanding affordable housing provision in prime London
Within the context of prime and super-prime residential development, affordable housing is a complex matter and one that most developers will need to address at some point or another.
Resi sales sector “taking no notice of the approaching holiday season” – Cluttons
Over a third of tenants actively looking to buy a home are doing so because they are anxious to pre-empt further price rises, says Cluttons in its latest tome.
Resi development land values post another rise as developers look beyond “oven-ready” sites – Knight Frank
Resi development land values across the UK (excluding London) recorded another three months of "convincing" growth between July and September, according to Knight Frank's latest findings.