UK offers £400m to build to rent projects
The announcement, part of the country’s £1 billion fund, aims to support and encourage developers and investors looking to enter the private rental market, while also alleviating the country’s hosuign shortage.
July saw the first Build to Rent project signed in Southampton, introducing hundreds of new homes to the market specifically to be let to tenants.
Housing Minister Mark Prisk said: “The housing market is turning the corner, with starts up a third compared to last year, and over 25,000 households helped into home ownership since 2010.
“But I want to go further, which is why I’m inviting bids for a share of up to half a billion pounds to help build a bigger, better private rented sector.
“This funding, combined with up to £10 billion in our housing guarantees schemes, will help build on successes like Centenary Quay in Southampton to offer greater choice and quality for tenants across the country.”
Other property development news from around the world:
Canadian building permits “smash expectations”
Canadian building permits “smashed expectations” in July 2013, according to new figures.
Building permits fell significantly in June 2013, dropping by 10.6 per cent. For July, then, expectations were tempered: they were forecase to climb by 1 per cent. The actual increase? 20.7 per cent.
Ontario, Alberta and Quebec led the increase with the majority of activity occurring within the commercial sector.
Source: City AM
UK to introduce protection against village greens
Protection against village green designations is being introduced in the UK.
Traditionally, an Englishman’s home is his castle, but under the current law, there is little to stop that home being declared a public space for recreational use: in order to prevent land being designated as a village green, owners have to “secure all entry points and/or erect notices making it clear that the land is private and public access is not allowed”, explains Knight Frank. Indeed, if a significant number of local residents have used the land informally for recreational purposes for at least 20 years, they can apply for village designation, regardless of whether their access to the land was authorised.
From 1st October, though, it will be possible for landowners to safeguard their land using new legislations. A statement and map, registered with the Commons Registration Authority, will record whether a landowner wishes to protect their land against registration as a village green.
UK housing standards to be simplified
UK housing standards will be simplified by the government to cut “needless” red tape.
The new rules, proposed by Communities Minister Don Foster, will see “dozens of confusing measures” that are currently imposed on house builders by authorities scrapped. The move is part of several measures from the government to Get Britain Building, encouraging construction of new homes across the country and alleviating the UK housing shortage.
“Essential safety and accessibility rules will not be changed”, Foster notes, but “a mass of additional and often confusing housing standards that councils are free to apply locally” are proposed to be reduced from over 100 to fewer than 10.
Don Foster commented: “At a time when we are working closely with British business to create jobs and build a stronger economy it’s essential the government plays its part by taking off the bureaucratic handbrake that holds back house building and adds unnecessary cost.”