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FSA PUBLISHES NEW SALE AND RENT BACK RULES
01 February 2010
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The Financial Services Authority (FSA) has published new rules and guidance that put in place a strong framework of consumer protection for vulnerable consumers in the sale and rent back (SRB) market.
FSA adopted a two-stage approach to regulating the sale and rent back market. To tackle the most immediate sale and rent back issues for consumers as quickly as possible, it implemented an interim regime from 1 July 2009.
The publication contains details of the full regime, which will provide consumers with greater protection from 30 June 2010.
In particular, the FSA has banned exploitative advertising and high-pressure sales techniques and prohibited the use of emotive terms like ‘fast sale’, ‘mortgage rescue’ and ‘cash quickly’ in promotional literature; introduced a 14 day cooling-off period to give consumers more time to make decisions on sale and rent back; and banned cold calling and prohibited firms from dropping promotional leaflets through letter boxes.
It has also confirmed rules to ensure consumers have a security of tenure for a minimum of five years; introduced an affordability and appropriateness check across all sales to check that the sale and rent back deal is right for the consumer; and put in place measures to ensure all risks are clearly signposted to the customer, via FSA literature and during the sales process.
Ed Harley, FSA head of mortgage policy, said: "For some people in financial difficulty, staying in their home remains very important. Selling their home and renting it back in this way can be right for them. But we are aware of some firms exploiting vulnerable consumers at a difficult time. So, it is right that we introduce these further protections, and we will take swift action where they are not met."
The FSA has also published proposals for the data it will expect firms to supply for use in the supervision of sale and rent back firms. All firms active in the sale and rent back market must be authorised otherwise they face potential fines or imprisonment. The FSA is proactively monitoring the SRB market for unauthorised activity, and will take action if necessary.
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CAMPAIGN STEPS UP TO GIVE COUNCILS GREATER HOUSING CASH FREEDOM
01 February 2010
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Simon Hughes
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Liberal Democrat MP, Simon Hughes is stepping up his campaign to allow councils to use money received from developers to build or improve social housing.
The MP for North Southwark & Bermondsey is seeking to obtain a second reading for his Private Members Bill in the last session of parliament before the General Election.
Mr Hughes’ Town and Country Planning Act 1990 (Amendment) Bill, would write into law a provision to allow local authorities to use the money they receive from developers to improve existing social homes or build new ones.
At present councils are restricted to using the money to fund infrastructure projects or community projects - even where infrastructure is already of a high standard. This restriction has led to some cases where money has been used to finance projects of marginal importance - such as in Tower Hamlets where money was spent on chiropody sessions for local residents.
According to Mr Hughes, across England there is a social housing crisis with too few homes and many of them in a state of disrepair.
He said: “Ever since becoming a member of parliament 26 years ago fighting for improved social housing for London’s residents has been one of my top priorities. In today’s tough financial times councils need new and innovative ways of funding the repairs and new homes that Londoners and millions more people around the country urgently need.
“New developments often cause disruption and grief for existing local residents who can’t understand why they often get no help to improve their own housing or to see more new affordable homes built in the local community. My bill will change this
“If my bill becomes law everyone is a winner. This bill will help councils to fund urgent improvements to local housing, and help individuals and families who are waiting for a home or improvement of their home to have the decent housing they need.”
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JRF LAUNCHES NEW HOME CARE SCHEME
01 February 2010
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The Joseph Rowntree Foundation (JRF) has helped launch a new pilot scheme to enable asset rich but cash poor older people pay for additional support at home, which could help to make their lives easier and allow them to stay in their own homes for longer, rather than move into a care home.
JRF is releasing a report, Can equity release help older home-owners improve their quality of life?, by Rachel Terry and Richard Gibson, which details how the pilot scheme will run and provides a tool kit for local authorities interested in similar solutions for their own areas.
The programme, an advice service offering practical solutions to older home-owners with financial concerns, was developed in response to the anxiety felt by older people about using equity release schemes, the costs involved, and the risks to existing benefits. It is being run by JRF in collaboration with local authorities, the equity release industry and voluntary bodies, with advice from the DWP.
The programme will provide access to a unique new equity release product - the Home Cash Plan – provided by retirement specialists Just Retirement and endorsed by trade body SHIP (Safe Home Income Plans). It has been designed specifically for income-poor older people and, unlike other equity release products, allows home-owners to release small sums of money from their property safely and easily, without jeopardising their benefits.
Julia Unwin, Chief Executive of JRF, said: “Around a million older home owners in the UK have at least £100,000 in housing equity yet have such small incomes that they qualify for means-tested benefits, meaning they can’t afford to pay for additional support at home such as gardening or shopping.
“Previous research has shown that most older people would prefer to be supported to stay at home rather than move into a care home. Our aim is to find a practical solution to enable these people to release the equity in their homes, without jeopardising their pension credit, so they can stay at home for longer."
Key features of the pilot: The involvement of local authorities and local voluntary bodies to ensure people are receiving all the financial help to which they are entitled; Relatively small sums of money can be drawn compared with other equity release products; and The risk of losing pension credit is minimized (due to drawings being on demand rather than pre-determined and the minimum initial drawing being well below the savings threshold).
Co-author of the report, Rachel Terry said: “Research tells us that older home-owners may only need an extra £20 or £30 a week to pay for additional help at home and improve their quality of life, but many can’t afford this on their small incomes – typically £200 a week for a couple – which is where the new pilot schemes come in.
“In many cases people may simply be missing out on benefits they are entitled to, but if this still doesn’t provide enough extra money, the Home Cash Plan would enable them to top up their income, safely and easily, without losing their benefits.”
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NLA CONDEMNS GOVERNMENTS SHARED HOUSING PROPOSALS
01 February 2010
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The National Landlords Association (NLA) has roundly condemned today’s Government announcement which will reduce the supply of shared housing.
Housing Minister, John Healey revealed plans which will require planning permission for new shared housing where three or more unrelated people live together. 20 per cent of private-rented sector properties are shared*, a figure which is rising year-on-year.
HMOs play a vital role in providing much needed housing for students, young professionals and those on low incomes who rely on this type of affordable accommodation, says NLA. Large cities across the UK greatly depend on shared housing as a first step. By making it more difficult and costly for landlords to provide this type of accommodation, these measures will reduce choice for tenants and increase pressure on local authority housing lists.
The Rugg Review, an independent review of the private-rented sector commissioned by the Government, already dismissed these changes to the planning system as an ‘extreme response’ which ‘local authorities are ill-equipped to handle.’ The Government clearly has no idea of the impact of this measure on the housing market.
The statement also outlines proposals to give councils general consent to introduce licensing schemes without seeking permission from central Government in so-called ‘hotspot areas’. The current rules require local authorities to justify to the Secretary of State the need for any new licensing scheme.
These proposals will result in a ‘nimby’s charter’ which will create ‘no-go’ areas for landlords, students, young professionals, low income families, migrant workers and a wide range of other groups who rely upon shared private-rented sector housing, says NLA.
David Salusbury, Chairman, NLA, said: “The Government has bowed to a small minority who shouted the loudest. It has ignored the vital role these homes play in contributing to vibrant and mixed communities. These plans will do nothing to improve housing or increase choice for tenants but are more about placating local protest groups in certain parts of the country.
“If the Government was really interested in dealing with anti-social behaviour and property standards in the small minority of places where they are an issue, they would have taken up the NLA’s calls for more targeted local management action by councils working with landlords in their areas.
“What we have before us is draconian and is quite simply using a sledgehammer to crack a nut. In addition, we can expect local authority planning departments to be swamped under increasing workloads owing to these new measures. This entire package will not contribute to the vibrant rental market the Government says it wants.”
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DRIVING DOWN EMISSIONS WILL FREE UP COUNCIL CASH
01 February 2010
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John Denham
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Radical action by councils on driving down carbon emissions will help cut fuel bills and reduce global warming Communities Secretary, John Denham said, as he announced the nine pioneering local authorities that will work with Government to develop an ambitious programme of action to tackle climate change.
Manchester, Leeds City region, Bristol, Oxford, Northumberland, Haringey, Nottingham, Plymouth and Bournemouth Poole and Dorset MAA will work with Government over the coming twelve months to pioneer and test new local carbon frameworks.
These councils will take centre stage in the UK's action to tackle climate change whilst residents in those areas will reap the benefits of large scale home insulation projects, alternative sources of energy and the emergence of greener communities which together could reduce fuel bills alongside wider benefits.
The frameworks will promote new and more effective ways of meeting Governments ambitions on the essential climate change agenda. The eventual aim is to incentivise all councils to significantly reduce their carbon emissions.
By working more closely with energy suppliers to develop ambitious plans for 'greening' up domestic and non-domestic properties, increasing the demand for renewable energy, considering how to increase the economic viability of new energy sources, boosting links to heat and energy schemes and make more effective use of surplus energy to power homes could potentially unlock new sources of income for local authorities.
Denham is proposing that local carbon frameworks will involve councils setting out a clear set of targets for action and a route for progress and milestones; developing a clear strategy for how carbon reductions can be achieved; and producing a delivery plan involving all its partners, including those outside the formal strategic partnership.
Plans might set out what action is needed on issues spanning recycling, energy efficiency, wind power, transport and more. Councils would be expected to put together a prospectus setting out how they would develop and deliver a local carbon framework. This would be negotiated and agreed with Government. The prospectus will then be negotiated and agreed with Government. It will then be down to councils to take forward delivery and report on its achievements.
Denham said: "Green groups have long campaigned on the Think Global, Act Local slogan knowing that it is action taken in homes, in villages, towns and cities that will really deliver the change and the groundswell of support to make the difference on carbon emissions.
"Local authorities - through their oversight of housing, planning, waste, transport coupled with the significant spending power they possess - are uniquely positioned to use their role and influence to drive and shape a low carbon economy, low carbon living and influence the kind of behaviour change that will be needed to meet the UK commitment to the 34 percent cut in emissions on 1990 levels by 2020.”
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‘RELUCTANT TENANTS’ ARE ENTERING THE HOUSING MARKET
01 February 2010
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The UK housing market is experiencing a trend of ‘reluctant tenants’, following a shift in supply and demand for properties, according to the Association of Residential Letting Agents (ARLA).
ARLA’s research, conducted across UK letting agents and landlords, reveals that the surplus of rental property is reducing, while demand for properties rises.
According to ARLA, this shift has generated a wave of reluctant tenants. During Q4 2009 an average 41% of members surveyed reported more tenants than properties – compared with just 24% last quarter. In addition, ARLA research among landlords revealed that 54% of those asked felt that consumers were being forced to rent rather than buy.
Ian Potter, operations manager at ARLA, said “New tenants include those homeowners who were forced to sell their home during the last year either due to financial instability or a job-move. And many people now in a position to buy are struggling to find the right property, as there is also a shortage of both properties for sale and realistic mortgages.
“This rise in tenants is a positive sign for the industry, as it indicates increased market movement. It also shows that many more people will learn the benefits of living in rental accommodation.
“However, as demand exceeds supply we are faced with a new challenge – how to provide enough good-quality rental properties to meet this demand. These figures confirm our long-held view that a strong Private Rented Sector (PRS) will be fundamental in meeting the accommodation needs of future generations. But without significant government support, the sector will likely struggle.”
Simon Gordon, Head of Communications, National Landlords Association, said: "These figures may show some tenants are reluctant to rent, but that doesn’t reveal the true story. Renting is no longer the ugly sister of the property market. In fact, increasing numbers are attracted to renting, as a simpler, more flexible alternative to home ownership.
“Gone is the view that renting is the only option for those who can’t afford to get on the property ladder. Nowadays there are property savvy renters who prefer not having to worry about home repairs or concerns about making ends meet with potentially volatile interest rates.”
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JUST A MINUTE: MARY KEANE, HOMES FOR HARINGEY
02 February 2010
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Mary Keane
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Mary Keane, Learning & Development Advisor, Homes for Haringey
How did you get started in the industry? Quite by chance! After a ten year gap from (paid) work as a full-time mother, I accepted an agency job for a two week placement at Haringey Council within the Building Services department. That was in 1996…
Biggest professional achievement: Helping the apprenticeship and work experience programmes expand.
Best advice you received: Nothing is ever as bad as it seems and there is a reason for everything – even when we don’t understand it at the time.
What do you like most about your job? The satisfaction in seeing how the apprentices develop confidence in themselves and in the work they do, how they gain practical and social skills, become qualified and gain employment at the end of their training.
Also talking and listening to young people on work experience placements – they gain knowledge of the real working world and a chance to improve their communication skills and I in turn learn more about young people’s likes, dislikes, aims and ambitions. The vast majority of the younger generation I have come in contact with present a very different picture to the troubled and aggressive youngsters depicted in the media.
And least? Having to turn down so many applicants for work placements and apprenticeships. There are so many enthusiastic and willing youngsters out there desperate to be trained and become qualified but there are not enough resources to accommodate them.
What you would most like to change in housing? Seeing the housing sector commit to take on more young people as apprentices and for them to have the opportunity to become multi skilled. Apprenticeships are a great legacy from the multi-million investment in decent home improvements.
What future issues do you see arising in housing? Ever increasing demand over supply. More investment in new-builds. The decent homes programme will leave a positive legacy with tenants having a higher expectation and standard of social housing provision.
Do you read a daily newspaper? Occasionally I read The Guardian for interesting cultural, social or sports articles but generally I catch up with the news on TV…
How are you making use of the internet? For work purposes – researching information and for making useful contacts. At home for general information – it’s something like a 21st century online encyclopaedia.
Favourite holiday destination: Italy. I went there when I was 15 years old with my Italian friend and stayed with her family for 10 weeks. I have been in love with Italy ever since.
Favourite Music / Bands: In my teens it was any Merseyside group. Now I enjoy Mozart and Beethoven.
www.homesforharingey.org
If you would like to feature in Just A Minute, please email: news@housingnews.co.uk.
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RURAL COMMUNITIES WILL STRUGGLE TO SUPPORT BOOMING OLDER POPULATION
02 February 2010
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David Orr
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The number of pensioners living in rural England will increase by nearly one million over the next decade – but communities will struggle to support the ageing population boom unless more affordable homes are built for families and younger people, a campaign group has warned.
The National Housing Federation predicts the number of over 65s living in rural England will hit 3.23m by 2020, a rise of 907,900 (39%) from 2008. But young people and families on modest incomes could increasingly find themselves priced out of villages and market towns by wealthy people relocating to the countryside – prompting fears that many rural areas will struggle to attract the moderate income workers these areas will need to care and support for the ageing population.
More “pensioner friendly homes” will also need to built where there is a clear demand for them and support services will need to be made more widely available in rural communities, the Federation said. Pensioners will make up one in four of the rural population (24%) by 2020, as the proportion of older people living in rural areas increases at a significantly faster rate than in urban areas.
The research also reveals that one in three older people (32%) in rural areas will live alone by 2020, compared to the current level of one in four. Many of these people could find themselves increasingly isolated if key services and amenities continue to disappear from rural England.
The Federation, which represents England’s housing associations, said thousands of new homes needed to be built for younger families and workers to support community life and keep local schools, bus services, shops and pubs open.
Younger people would also be needed to help support the booming numbers of older people living in the countryside – in modestly paid jobs, such as health care workers. But the huge inward migration of wealthy commuters, second home owners and retired people to the countryside has sent house prices soaring and are now £40,000 more expensive in rural areas on average than those in towns and cities – even though wages are far lower.
Many younger people and families have been priced out of their communities by a lack of affordable housing, fuelling the mass closures of shops, pubs and schools in rural areas. The number of people on waiting lists for an affordable home in rural England has rocketed to 750,000, but a chronic shortage of new homes means many low income families are trapped in poor quality housing – unable to afford to move to more suitable accommodation nearby.
The Federation estimates around 100,000 new affordable homes need to be built in England alone to meet demand in rural areas over the next 10 years. Councils should also assess the changing needs of their local community and support the building of homes which meet the needs of older people where there was a clear demand for these properties, the Federation said. Support services will also need to be extended more widely in rural communities.
The Federation is calling on all local authorities to draw up action plans to assess their local housing needs and how they plan to meet that need.
Federation chief executive, David Orr said: “The proportion of older people living in the countryside will rise dramatically over the next decade – bringing many benefits to rural communities but also a series of big challenges.
“As the older rural population booms, we must ensure that enough affordable homes are built for younger people on modest wages, so that they can continue to work in and support key services like shops, public transport, and care and support services.
“If families and younger people are priced out of the countryside and local services and amenities continue to disappear, older people will find themselves increasingly isolated. That’s why rural local authorities must carry out assessments of housing need every three years and draw up action plans to deliver the homes required. They also need to assess what housing and support services will be needed to serve the growing older population.”
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GOVERNMENT GIVES BACKING TO BILL PROVIDING TENANTS WITH GREATER PROTECTION
02 February 2010
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John Healey
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The Government has given its formal backing to a backbench bill aimed at giving tenants greater protection when their landlords face repossession action.
Currently, if a landlord has not taken out a buy-to-let mortgage and has not received a 'consent to let', tenants are often unable to discuss their situation with those taking repossession action against their home. The chief reason for this is that the lender does not know about these tenants and because the court is unable to take account of their circumstances.
These tenants can then find themselves with little or no time to find a new place to live.
Ministers believe it is only fair that such tenants have more opportunity to request a delay in repossession action so they have time to find appropriate alternative accommodation.
The Government has already put in place a comprehensive range of support for homeowners to avoid repossession, from free debt advice and help with mortgage interest, to special backstop help like the Mortgage Rescue Scheme for those families most at risk. The Council of Mortgage Lenders have reduced their repossession forecast for 2009 by more than a third - from 75,000 to 48,000.
The Mortgage Repossessions (Protection of Tenants etc) Bill, tabled by backbench MP Dr Brian Iddon, received its second reading in the House of Commons today, and aims to change this. It will allow judges to delay repossession of a property by up to two months, giving tenants the time they need to find a new home.
Housing Minister, John Healey said: "The comprehensive range of support we've put in place for homeowners has helped keep repossessions at nearly half the rate of the last recession. But I am determined that help is available both for those struggling to pay their mortgages, but also for those tenants who may have little or no notice that the place they call home is at risk.
"That's why the Government is backing Brian Iddon's Bill, which will ensure that tenants are not subject to the distress and disruption of short notice eviction and will allow judges to have the power to stop tenants from being thrown out onto the street and instead offer them breathing space to find somewhere else to live.
"I will continue to work directly with Dr Iddon to ensure this important legislation is passed, closing a gap in the law so tenants get the protection they need and deserve."
Dr Iddon said: “This is a very much needed piece of legislation and I am very pleased that my colleagues have given it a second reading today which will allow us to discuss it in depth in Committee. I am hoping to get the Bill into the House of Lords in time for it to become law in this session of Parliament."
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TCPA PUBLISHES ECO-TOWN GUIDANCE
02 February 2010
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The TCPA has published the eleventh and final Worksheet in the Eco-town Worksheet series, sponsored by Government, on the effective delivery of eco-towns.
TCPA Chief Executive, Gideon Amos , said: “It is a tribute to the enduring importance of eco-developments given our changing climate, that the TCPA has now brought its leading edge series of ‘Eco-towns Worksheets’ guidance to a successful conclusion with this publication on the practicalities of delivery.
“The first four eco-towns, the next wave of proposals and other eco-developments in the UK have much to learn from each other. The task now is to bring forward innovative development that also meets the needs and aspirations of ordinary people seeking a decent home in a good environment. The brand new local authority led Eco-Development Group set up by the TCPA will endeavour to do just that.”
The intention of the Delivery Worksheet ‘ensuring eco-towns are delivered’ is to provide background information and guidance that will assist those involved in eco-town delivery. It is not prescriptive. However, it does describe the factors that need to be given serious consideration before reaching decisions about delivery arrangements.
John Walker, lead-author of the Delivery Worksheet, said: “Delivering an eco-town requires additional thought and focus over and above ‘normal processes’ and the need for long-term commitment. Many factors that will influence the eventual nature and success of the eco-town will be determined at an early stage, either by conscious action or by default.
“The premise of this Worksheet is that decision by default is not good enough when we are aiming for an exemplar that can be both a wonderful place in which to live and a source of inspiration and learning for others. Important decisions should be made explicitly, in a transparent manner and with an inclusive approach to delivery through partnership.”
The Worksheet concentrates on the opportunities and responsibilities that will occur when delivering an exemplar eco-town, and on the steps that can be taken to grasp them fully.
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HCA DEPUTY CHIEF EXECUTIVE TO LEAVE
02 February 2010
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Eamonn Boylan
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Eamonn Boylan, deputy chief executive of the Homes and Communities Agency, is to leave the organisation to take up the role of chief executive at Stockport Council at the end of March.
Commenting on his departure, chief executive of the HCA, Sir Bob Kerslake, said: “Eamonn has been an excellent deputy chief executive, playing a crucial role in launching the HCA and in shaping the robust organisation we see today.
“His input has been invaluable in helping develop some of our most innovative ideas such as the private rental sector initiative and driving forward programmes such as Kickstart. We wish him well and look forward to continuing to work with him in his new role at Stockport.”
Eamonn said: “I am delighted to be offered the opportunity to take on this role with Stockport and to help the borough achieve its ambitions. I leave the Homes and Communities Agency in great shape and under great leadership.
“It has delivered outstanding results in an extraordinary challenging market and I am sure it will go from strength to strength. I look forward to continuing to work in partnership with the HCA to achieve the best possible outcomes for the people of Stockport.”
Bob Kerslake added that no decision had yet been made regarding a successor for Mr Boylan, who also heads up the Agency’s New Ventures and Partnerships division.
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HOUSE PRICES SEE FIRST POSITIVE CHANGE SINCE MAY 2008
02 February 2010
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The December data from Land Registry’s flagship House Price Index shows an annual price change of 2.5% – the first positive annual house price change since May 2008.
The monthly change is 0.1%, which is the eighth month in a row in which the monthly change has been above zero. This brings the average property value in England and Wales to £161,783.
Seven regions in England and Wales experienced increases in their average property values over the last12 months. The region with the highest annual price change is London with an increase of 6.1%.
The region with the most significant annual price fall was Wales with a movement of -2.5%. Both the North East and the West Midlands experienced the greatest monthly rises with movements of 1.9%. Wales was the region with the most significant monthly price fall with a movement of - two per cent.
The most up-to-date figures available show that during October 2009 the number of completed house sales in England and Wales rose by 34% to 59,482 from 44,530 in October 2008. Transaction volumes, while no longer falling at 2007 rates, remain relatively low.
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HCA LAUNCHES NEW MODEL OF SHARED OWNERSHIP
03 February 2010
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A new model shared ownership lease, aimed at creating more certainty for lenders and more clarity for purchasers of New Build HomeBuy property, has been created by the Homes and Communities Agency.
The revised model lease, which will be adopted by all lenders and housing providers, will come into force from April 6, 2010. While the existing lease has been adapted over the years, changes to create the revised lease are more wide-ranging, using clearer English and incorporating amendments to ‘fundamental’ clauses that provide greater certainty of the rights and obligations of lenders, affordable housing providers and customers.
The changes also increase the protection offered to mortgage lenders in the shared ownership lease. HCA believes the lease will not only simplify and speed up the home buying process but, at a time of financial caution, will assure existing lenders of shared-ownership mortgages. As economic conditions improve the revised lease should help to encourage new lenders into the shared ownership market.
Jamie Ratcliff, head of intermediate markets for the HCA said: “New Build HomeBuy is an important route for helping first time buyers get a foot on the property ladder. However, we have listened to the concerns of some lenders and also acted to ensure purchasers are clear about their obligations. Our revised shared ownership lease works for both lenders and purchasers by spelling out responsibilities and liabilities more clearly.”
The lease has been developed in conjunction with Communities and Local Government, CML, National Housing Federation and a number of leading mortgage lenders and providers of affordable housing. The lease can be adapted by housing providers and lenders to suit individual situations, but there are fundamental clauses that must be included in any new lease, and these are clearly signposted.
Lucy Thornycroft, investment leader of the Federation, said: “This considerably strengthens existing protection for lenders who provide mortgages. We hope that these changes, combined with the very low levels of repossession of shared ownership properties, will encourage lenders to commit greater mortgage funds for this key product that has helped ten of thousands of families buy an affordable home.”
Jackie Bennett, head of policy for CML, added: “Shared ownership lending is more complex than mainstream mortgage products and requires a good level of communication and awareness from all parties involved.”
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THINK TANK CALLS FOR SECTION 106 REFORM
03 February 2010
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The Local Government Information Unit is calling for the reform of Section 106 agreements to allow councils to use money they receive from developers to build or improve social housing.
The move is part of a series of proposals from the local democracy thinktank to free up local councils and communities to regenerate and improve existing social housing.
Andy Sawford, chief executive of LGiU, said: “Britain faces the biggest social housing crisis since the 1940s with a huge shortage of homes and many of them are crumbling and need major repairs or regeneration.
“Our in depth investigation into these issues in places like Southwark shows that councils desperately want to improve local social housing but are seriously hampered by a combination of central government restrictions and old post war debts.
“To free up badly needed resources we want to see reform of Section 106 agreements between local authorities and developers. At present the regulations are far too restrictive because they prevent councils from improving existing social housing.
“We are delighted that Southwark MP Simon Hughes is taking this up in Parliament and we strongly back his Bill to change Section 106 regulations to allow councils to use money they receive from developers to build or improve social housing. This will free up badly needed resources for councils to undertake repairs and improvements. “
The Bill, known as the Town and Country Planning Act 1990 (Amendment) Bill, will be debated in Parliament tomorrow (Friday 29th). The LGiU is pressing the government to support the Bill and make further parliamentary time available.
Sawford added: “Local councils will have mixed views about how Section 106 should be used and the LGiU believes this should be their choice, rather than determined by Whitehall."
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COMMUNITIES GIVEN MORE POWERS TO FIX LOCAL PROBLEMS
03 February 2010
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John Denham
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Communities are being given a powerful new way to fix local problems under new proposals to strengthen the ability of councils to scrutinise all local public services, Communities Secretary, John Denham has announced.
A new Private Members Bill, backed by the Government, will give every resident the right to hold local service providers to account through their elected representatives on all issues of local concern: like dug up roads, poor facilities at train stations, or threatened local bus routes.
People often feel they don't have the power or knowledge to tackle service providers on their own. But instead of having to suffer in silence, they will be able to call on their councillor who will have new powers to fight their corner.
The proposed new powers mean councils could legally compel organisations to attend public scrutiny hearings to justify their actions and respond in full to recommendations made by the councils to resolve the problem. This sweeps away the need to rely solely on the voluntary co-operation of organisations when addressing local concerns.
The Bill will complete the scrutiny arrangements so that all significant local public service spending can now be covered by scrutiny.
It could mean service providers being held to account on a range of issues like energy companies digging up roads, pavements and gardens for repairs and then leaving them in worse condition once finished; station safety, proper lighting, decent facilities and access; young families with children using regular bus services to get to school who feel the discounted bus tickets are still too expense; and gas and electricity companies digging up and blocking roads and pavements and restricting access to shops and facilities for a prolonged period.
Councils will also have strengthened powers to scrutinise all the activities of Job Centre Plus, on issues like worklessness in the area, or how they're helping people into jobs locally. Colleges are also subject to scrutiny as part of the current scrutiny regime for the Learning and Skills Council.
Denham said: "Local people should be able to elect councillors who can get back to them on the performance of all local public services, not just the ones run by the council itself. This Bill gives councillors the power to hold all these services to account whether they are provided by other public bodies or private companies delivering public services.
"It will give councils the ability to shine a spotlight on services not delivering for local people and demand action on behalf of their communities to resolve local problems. There should be no hiding place from awkward questions for company bosses about why they are not providing the high quality local public services people are entitled to."
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CHARITIES CALL FOR IMPROVEMENT IN HOUSING BENEFIT UPTAKE
03 February 2010
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Twenty-seven charities are calling on the government to set ambitious targets to improve take-up of welfare benefits and tax credits, highlighting more than £16bn in means-tested benefits and tax credits that currently goes unclaimed every year.
In a campaign spearheaded by Citizens Advice, they have written to Secretary of State for Work and Pensions, Yvette Cooper saying more needs to be done to ensure that money earmarked for children, families and pensioners in greatest need reaches those for whom it is intended.
The charities point to glaring examples where take-up is falling far short. Latest official figures show that as many as four out of five low paid workers without children (1.2bn households) miss out on tax credits worth at least £38 per week - a total of £1.9 billion. As many as half of all working households entitled to housing benefit (worth an average £37.60 per week) do not claim it – that’s up to half a million households.
Other benefits showing signs of significant under-claiming include council tax benefit and pension credit. Up to three million households are missing out on an average £13 a week in council tax benefit, while as many as 1.7 million pensioners are missing out on an average of £31 a week in pension credit.
Take-up of housing benefit and council tax benefit have both fallen over the last decade, while take-up of child tax credit is far lower in London than in other parts of the country, and generally 10% lower among families from minority ethnic backgrounds.
Citizens Advice Chief Executive, David Harker said: “The government has made a serious commitment to eradicate child and pensioner poverty, and to help the working poor, yet up to £10.5bn of means tested benefits and £6.2bn of tax credits remain unpaid each year. This adds up to millions of people in dire need missing out on the help they should be getting to make ends meet.
“This is bad news at any time, but it’s especially worrying when so many are still feeling the impact of the recent recession. It’s absolutely vital that the government sets ambitious take-up targets for means-tested benefits and tax credits as an importantstep towards tackling poverty and providing adequate incomes for all.
“The benefits and tax credits system is extremely complicated and the reasons people don’t claim what they’re due are complex, ranging from simply not knowing about the benefit concerned, to being put off by what can sometimes seem a very daunting process, to feeling that the amount they gain will be negligible. But all too often they are missing out on substantial amounts of extra cash that could make all the difference between getting by or going under.
“We would urge people to get a free, confidential and independent benefit check at their local CAB. Our advisers deal with 8,000 new benefit enquiries every working day and can help people navigate the complexities of the system, identifying all the extra help they should be getting and assisting with the claims process.
"Along with other concerned charities we are now challenging the government to invest the same amount of energy and effort into ensuring people get what they are entitled to as they put into cracking down on benefit fraud.”
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TCPA ANNOUNCES INTERIM CHIEF EXECUTIVE
03 February 2010
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The Town and Country Planning Association has announced that Kate Henderson, formerly TCPA Head of Strategy, will be leading the Association in the interim period before a new Chief Executive is appointed.
This is following Gideon Amos OBE’s departure to join the Infrastructure Planning Commission at the beginning of March 2010. Kate will take up the position of Interim Chief Executive from 11th February 2010.
Kate Henderson said: “I am delighted to be taking forward the TCPA’s progressive and innovative programme of work in this interim period.
“The Association’s campaigning and policy development around housing, sustainable development, climate change and community empowerment remains as vital as ever and I look forward to working with the Board of Trustees and staff team in taking the Association from strength to strength.”
Since joining the TCPA team as Communications Manager in early 2007, Kate has raised the profile of the Association through communicating a range of complex policies and campaigns in line with the charity's objectives.
She subsequently supported the Association's policy work as a professional member of the Energy Institute. In her interim role, Kate has the enthusiastic support of the Board of Trustees and its Chair Lee Shostak, as well as that of the President Sir Peter Hall.
The Board of Trustees will be advertising for a permanent Chief Executive shortly, meanwhile Kate’s work as Interim Chief Executive is supported by the established Management Team of Dr Hugh Ellis as Chief Planner, Graham Nickson as Policy and Projects Manager, Diane Smith as European and Corporate Affairs Manager and Nick Matthews as Editor-in-Chief.
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TENANCY DEPOSIT PROTECTION IS WORKING
03 February 2010
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Tenancy deposit protection legislation is working despite current concerns about price increases, according to the National Landlords Association.
David Salusbury, Chairman, NLA, said: “The NLA believes we need to be careful not to let the current discussions about TDS price increases detract from the principle purpose of tenancy deposit protection: offering legal protection for tenants where, in the small number of cases, landlords wrongly withhold all or part of their deposit.
“The NLA welcomes recent comments from the Government that it is happy with the performance and high standards demonstrated by the approved tenancy deposit protection schemes. All-in-all, tenancy deposit protection legislation has proven to be a success and current issues must not alter this message.
“I have written to TDS seeking clarification about the likely impact of their price increases on landlords and the NLA will communicate their response in due course.
"It is quite clear that landlords should not be expected to foot the bill of these price increases and we will be monitoring the situation carefully. For the NLA the interests of landlords must be safeguarded.”
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DEVELOPMENT SHOWCASE: HURTLEY STREET, BURNLEY
04 February 2010
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Hurtley Street, Daneshouse, Burnley
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Local authority: Burnley Borough Council
Housing association: Great Places Housing Group
Contractor: Tyson Construction
Architect: Stride Treglown
Number of homes: 18
Cost: Circa £2.5m
The site: This development of affordable family eco-homes in Daneshouse, Burnley, has been completed an important early stage in the regeneration of the area on a cleared site.
The scheme: The three, four and five-bedroom homes have been let to local families and six were made available through Great Places’ affordable ownership division Plumlife, to help families to get onto the housing ladder, via the Government’s HomeBuy and ‘try before you buy’ Rent To HomeBuy schemes. Their striking design, in pale brick and plum-coloured render, means they stand out yet blend in to their surroundings.
Features: Code for sustainable Homes Level 3. Eco-credentials of include large windows to let natural light flood in, and outdoor bin stores ideal for recycling. Roofs feature PV units that convert sunlight into electricity which is sold to the national grid and offset against residents’ bills.
Affordability: For social rent and shared ownership
Completion date: August 2009
Websites
www.burnley.gov.uk
www.greatplaces.org.uk
www.tysonconstruction.co.uk
www.stridetreglown.co.uk
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HCA APPOINTS NEW LEGAL PANEL
04 February 2010
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The Homes and Communities Agency has appointed a new legal panel on a four year contract from 1 April 2010.
The 15-strong panel, which is further divided into a national and three regional panels, consists of:
National: Berwin Leighton Paisner, Eversheds, Pinsent Masons,Trowers & Hamlin
South: Ashfords, Bond Pearce, DLA Piper, Denton Wilde Sapte, Hammonds
Central: Browne Jacobson, Denton Wilde Sapte, Hewitsons
North: Forshaws Davies Ridgway, Pannone, Walker Morris
The firms replace the 21 legal firms inherited from predecessor bodies, English Partnerships and The Housing Corporation (which joined to become the HCA in December 2008).
Head of HCA legal services, Judith Roberts said: “We believe this streamlined panel will allow us to operate more effectively and achieve efficiencies on costs. As a new agency we are facing new challenges and initiatives that have inevitably involved our acquiring additional skills and expertise, which is why the make up of our panel is different from its predecessor.
“While we have divided the panel into national and regional teams, we expect the firms to work together on a collaborative basis, sharing knowledge between themselves and with our in-house legal team.”
The panel will begin operating from 1 April 2010. The national panel will generally focus on the provision of advice and services relating to corporate and major programme matters, together with projects of national significance and regional firms will provide a local focus. However, skills and expertise will be drawn on from across the panel to ensure the right fit for specific jobs.
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CML APPOINTS CHAIRMAN
04 February 2010
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The Council of Mortgage Lenders has confirmed Matthew Wyles, group distribution director of Nationwide Building Society, has been elected chairman of the CML for a second year.
Having spent 2009 as chairman, Matthew will continue in the role through 2010.
He will be supported by new joint deputy chairman, Colin Shave, chief executive of GE Money Home Lending Ltd who has taken over from John Heron.
Colin will be joining incumbent joint deputy chairman Martijn Van der Heijden, head of mortgages at HSBC, for 2010.
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JANUARY CREDIT CARD BILLS FINAL STRAW FOR DISTRESSED HOME OWNERS
04 February 2010
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Mounting mortgage arrears and huge January credit card bills are causing record numbers of homeowners around the country to try to sell their homes in a last ditch attempt to avoid repossession.
Property Portfolio Rescue (PPR) has seen a 33% surge of enquiries from distressed sellers across the UK in January.
London alone has seen a 55% surge of enquiries - many from so-called flagship regeneration zones - leaving plans for areas intended to improve and enhance prospects for local residents in tatters.
Nick Hopkinson, Director of PPR, said: “We have been shocked by the level of calls we have had in the first few weeks of the year. Having buried their heads in the sand pre-Christmas, many homeowners across the UK are now facing up to the reality of their situation, prompted by mounting personal debt and hefty January credit card bills, which they have no hope of paying.
“Until recently, many private homeowners in London have largely been able to scrape along avoiding repossession, with banks’ hands tied behind their backs as to when they can step in. For many, this has only delayed the inevitable.
“Now, as rising unemployment and falling household income hits all but the prime areas of the capital, a growing number of Londoners are joining the ranks of those in the Midlands and Northern cities who have fallen into serious mortgage arrears and need urgent help.
“We expect more areas to be hit over the next few months and are predicting over 15,000 new repossessions in the first quarter of 2010.”
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LANDLORDS OPTIMISTIC BUT FINANCING BUY-TO-LET INVESTMENT STILL DIFFICULT
04 February 2010
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Half of landlords who want to expand their portfolios are being frustrated by the lack of mortgage finance, according to a survey conducted by LSL Property Services.
Nearly half (49%) of landlords polled said the current market is attractive for investment and that they wanted to expand their portfolios. But only 27% of landlords say they’ll be able to buy more property in the next 12 months. The lack of availability of mortgage finance remains the fundamental barrier for landlords.
David Brown, commercial director of LSL, said: “2009 saw the buy-to-let market return as a viable investment. Landlords recognise this, despite the rough ride they have had to endure over the last couple of years. The average landlord made losses in 2007-8, but 2009 marked a return to form for property investment.
“But the availability – or lack of - of mortgage finance is holding the sector back. Even experienced landlords who are keen to take advantage of lucrative returns and improving market conditions can’t get access to the cash they need.”
A modest 11% intend to reduce their involvement in the private rental sector – a figure that includes those selling for retirement or lifestyle reasons. Only 12% of respondents mentioned the availability of finance as a positive factor for buy-to-let investment.
Landlords’ confidence in the market is driven by their desire to maximise returns in a low interest rate environment, with a third of them attributing their positive sentiment to the superior capital returns of buy-to-let as compared with other forms of investment. In 2009, a typical landlord made a total return of 7.6% – higher than many other forms of investment.
While stock market investments had a good run in 2009, with the FTSE100 up close to 1,000 points, it remains down on the start of 2008 - reflecting the relative volatility of stock market investments. Landlords believe property prices are attractive in the current environment. Nine out of ten of those landlords who see now as a good time to buy state attractive current house prices as a motivating reason.
Strengthening demand from tenants has played an important role in the market pick-up. 39% of respondents think tenant demand has grown in past 6 months, and two in three landlords anticipate the number of tenants looking for rental properties will grow in the next two years as it remains difficult for people to get on the housing ladder.
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PERSONAL PROPERTY SEARCHES ARE AS ACCURATE AS COUNCIL SEARCHES
04 February 2010
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The Federation of Property Information Providers (FPIP) has welcomed the publication of the results of an audit carried out by the Property Codes Compliance Board (PCCB).
The detailed audit of over 900 search answers revealed that personal searches are just as reliable as those provided direct by the local authority, with overall good quality standards from both sources.
The series of pro-active spot checks was designed to scrutinise the content of personal search reports from companies that subscribe to the Search Code - the voluntary protocol adopted by most Property Search Providers - and compare them to local authority searches carried out on the same property. The exercise has confirmed without doubt that there is no significant difference between the two types of report.
Kate Nicholls, Chief Executive of the Council of Property Search Organisations (CoPSO) said: “This test puts to an end once and for all the myth that Local Authority Searches are in some way better than Search Code-backed Personal Searches. The evidence is clear – that overall, there is no difference when it comes to completeness and accuracy of the searches. In fact, evidence suggests that some Personal Searches contain useful additional data.
“We welcome the report, but it is worth noting that only Personal Searches that are covered by the Search Code were tested. It is therefore essential to make sure that if you are using a Personal Search provider that they are a member of the Search Code or COPSO.
“COPSO members are constantly seeking ways to improve services and standards across the industry. We believe that independent regulation is key to this, and we look forward to sharing these findings with conveyancers, lenders and local authorities so we can continue to improve the quality and accessability of property data for the benefit of homebuyers.”
Mike Ockenden, Chief Executive of AHIPP and FPIP said: “These results highlight once again the importance to estate agents, conveyancers and home buyers and sellers of only using HIPs provided by HIP Code subscribers. If a HIP carries the HIP Code logo, you can be sure that it contains all the relevant information, is accurate, up to date and above all reliable. Where a personal search is included in a HIP produced by a HIP Code subscriber, it must be provided by a Search Code Subscriber and these results show it is every bit as accurate as a local authority produced search.
“Buyers conveyancers can rely on the contents of a pack carrying the code logo to move transactions forward at a quicker pace, and remember there is always the Professional Indemnity Insurance of the subscriber to provider reassurance.”
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HOUSING NEWS: INNOVATION ROUND-UP
05 February 2010
Click the picutre to see what is happening here
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HEALEY ANNOUNCES NEW HELP FOR PRIVATE TENANTS
05 February 2010
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John Healey
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Housing Minister, John Healey has announced new practical help and protection for tenants in privately rented homes.
The moves will help tenants find safer and better homes for rent and offer extra support if they face problems with their landlords or accommodation. A new hotline will open for business by the summer to offer private tenants free practical advice when problems occur and a new 'tripadvisor' style feedback website could allow tenants to post views on their accommodation and landlord.
Plans laid in parliament to make written agreements a legal requirement for all tenancies will mean tenants are clear about their rights from the outset and information on the track record of prospective landlords in how they keep their properties up to scratch or how quickly they fix any faults will be available through a new National Landlords Register.
Tenancy rights will be extended to more people living in shared homes on short term lets - giving extra protection to around 150,000 more people including many students and seasonal workers.
Privately rented homes provide a flexible housing option to three million households in England. But while the vast majority - three quarters - of tenants say they are satisfied with their rented home many tenants can face difficulties.
The package outlined in The Private Rented Sector: Professionalism and Quality: consultation responses and next steps, following on from the Rugg Review published in 2008, will ensure tenants have the information and help they need to make informed decisions about the homes they rent, legal protection and certainty about their rights and extra support to help them deal with any disputes.
Healey confirmed the Government's intention to bring in legislation to introduce the National Landlords Register and a tougher regulatory regime for managing letting agents to drive out the rogue elements that can sometimes tarnish the image of the sector and those who play by the rules. The Minister also pledged to explore more ways of lending practical support to organisations who represent the interests of private sector tenants in the same way as for public housing.
Healey said: "Over three million families live in private rented housing and while the majority of tenants say they're happy with their homes and landlords many do face problems with their landlord and should have better help and protection on hand.
"Every tenant should be confident in their decision to rent as well as be clear what to expect before they sign on the dotted line. That's why I'm making information about the track record of landlords available to everyone and written tenancy agreements will mean all tenants are clear about their rights from the outset.
“Extending protections to more shared homes an estimated 150,000 more people on short term lets will also have tenancy rights for the first time. But if things do go wrong a new housing hotline will mean tenants have somewhere to turn for help and advice.
"Creating Local Letting Agencies, where councils and good landlords work together to help local people find better-quality homes in the private rented sector will help to side-line the cowboys across the country."
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REPORT INVESTIGATES TIME IT TAKES TO GET MAJOR HOUSING PLANS THROUGH
05 February 2010
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New evidence has been revealed about the how long it takes to get planning consent for major housing sites in England and the factors which tend to be linked to longer or shorter approval times. The study is the largest of its kind.
The findings come in Housing supply and planning controls - the impact of planning control processing times on housing supply in England. The study of sites approved for major residential housing was commissioned by the National Housing and Planning Advice Unit (NHPAU).
It highlights an average determination period for the sites analysed of 43 weeks. The study finds that differences in development control times take place within each local authority and that variability appears to be a feature of the development control system overall.
The research also identifies that development control time increases with the size of development (measured by number of homes) but overall takes less time per dwelling built; trophy or prestige projects, as well as social housing schemes, tend to go through development control faster than others; and the development control process takes longer in more affluent localities and where there are hung councils.
The report concludes that uncertainty in time taken to process applications has significant implications for housing supply. It argues that long determination periods "will inevitably discourage investment in bringing forward new sites in the period following a recession, as developers will want to be certain that a strong recovery is under way before they make any such lengthy commitment."
Neil McDonald, Chief Executive of NHPAU, said: "There is a lot of anecdote and assertion about how long planning approval takes and why some sites take longer than others. This study provides hard evidence to enable us to have a much better understanding of the variability in approval times. It deserves careful consideration by all involved in planning for housing.
"A key aim for the NHPAU is to help local and regional authorities make the planning delivery system for housing work. We do not pretend to have all the answers but by providing new, robust evidence of the factors in play we can help ensure that the system is better able to respond to demand and deliver sufficient housing of the right type and in the right location, when we need it.
"Communities and Local Government has recently responded to the Killian Pretty Review of the planning system and the National Audit Office study of planning applications. Last month it began a consultation on the establishment of a new planning policy statement on development management. Our study is relevant to this process and we will be discussing its findings with key players at local, regional, and national level."
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HOMELESS LINK REVEALS TEN STEPS TO END HOMELESSNESS IN A DECADE
05 February 2010
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Homeless Link has launched its manifesto for the next government on ending homelessness in our country once and for all.
Written with input from agencies working on the frontline and people with experience of homelessness, it sets out 10 practical steps to achieve this challenging ambition in the next 10 years. Ian Austin, Parliamentary Undersecretary of State, Caroline Spelman, Shadow Secretary of State, and Julia Goldsworthy, Shadow Secretary of State for Communities all spoke at the event with great commitment.
Jenny Edwards, Chief Executive of Homeless Link, said: “We know there is a huge amount of work to be done, however, our sector, in partnership with local and national government, has a proven record of success. Less than a year ago the Mayor’s London Delivery Board focussed on the 205 most entrenched long-term rough sleepers as part of the national campaign to end rough sleeping by 2012.
“Less than a quarter remains sleeping rough and it cost just an extra £6,000. Something quite extraordinary is happening here. We firmly believe that people can change because we have the evidence that they can. We will not allow the most vulnerable in our society to be invisible. We want to see a Green Paper that will tackle the deep social exclusion of people with multiple needs."
The comments were supported by a speech from Martyn Warr, Learning and Development apprentice at St Mungo’s who, as recently as three years ago was sleeping rough on London’s streets. Martyn was one of the first successful applicants to St Mungo’s new Apprenticeship scheme, launched last year, and now works full-time for the charity at its client and staff training base in Southwark.
Ian Austin said: “Everyone has the right to decent, affordable home – it is a basic human right. We must put housing and homelessness at the centre of the election and end the scandal of homelessness for good for the first time in history.”
Caroline Spelman said: “The report charts a very important direction of travel…Homelessness is a cross-cutting issue. Government is constructed in silos. We must puncture holes in the silos if we are to be effective in addressing multiple needs.”
Julia Goldsworthy said: “Homelessness is very complex. It is important we have an ambitious pledge that we can work to.”
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DEMAND FOR NEW HOUSING WILL GROW FASTEST IN RURAL AREAS
05 February 2010
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Demand for new housing will grow at a faster rate in rural areas than urban districts over the next 20 years, according to a new report from the Commission for Rural Communities (CRC).
In its latest State of the Countryside Update on housing demand and supply, the CRC found that urban districts will grow by 27% between 2006 and 2031 whilst rural districts will grow by 35%.
The research also predicted there will be 356,000 new households added every five years in predominantly rural districts.
Other key findings include that, on average, between 2000 and 2008 21% of new build properties sold were in rural areas and marked proportions of dwellings in rural districts are registered as second homes. On average between 2006/07 and 2008/09 an additional 1,500 dwellings have been registered as second homes in predominantly rural districts every year.
Between 2007 and 2008 the number of privately owned dwellings left vacant increased by 9.3% in rural districts and 2.8% in urban districts. In predominantly rural districts the annual supply of additional affordable housing has increased by 49% between 2004/05 and 2008/09, from 7,000 to 12,800.
In 09/10 32% of additional affordable housing for the most rural districts is proposed for settlements smaller than 3,000 people. Between 2004/05 and 2008/09 the proportion of all additional social rented dwellings built in predominantly rural districts has increased from 22% to 26%.
The CRC said: "CRC recognises that rural towns and villages are growing faster in their resident population than their urban counterparts and average population growth as a whole. To accommodate new growth in our rural towns and villages rural communities should be at the heart of community led planning to deliver housing that meets their local needs.
"We believe that growth, if well managed, will foster more viable local services, more affordable and well designed housing, and appropriate economic development. In many respects, England’s rural communities are already leading the way in utilising new technologies, with new businesses start ups often commencing at the home. Housing is providing places to live and work.
“But this is not happening everywhere and the CRC has provided well documented evidence which shows that it is often the more vulnerable in rural society that suffer from a lack of housing. Young people, especially young families, and those working in rural areas for relatively low wages, are often the first to be priced out of their own rural communities.
“Losing these groups from rural society undermines the sustainability of many rural villages and towns as essential friend and family network scan be lost or disrupted."
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NEW HOMES PRICES CONTINUE TO MAKE STRONG RECOVERY
05 February 2010
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The average price of a new home rose by 1.1% in December 2009, bringing the total annual change for the year to just -2.6%, according to SmartNewHomes.com.
The market has made a remarkable recovery from the trough in May 2009 when new home prices had fallen by -15.3% annually.
David Bexon, Managing Director of SmartNewHomes.com said: “The new homes market ended the year on a very encouraging note, with the annual decline in new home prices reducing for the seventh consecutive month.
“Many housebuilders are beginning to talk positively about growth in the first half of 2010 with plans to reopen mothballed sites and a renewed thirst for land acquisition. Others are acquiring small housebuilders who have strong portfolios of half finished developments or stocks of prime land banks. Rising share prices and rights issues are also offering a ray of hope for a modest improvement to UK homebuilding for this year.
“All this bodes well for an increase in stock towards the middle of the year but no one is suggesting that the new homes market is close to recovery any time soon. NHBC figures show that just over 88,000 new starts were recorded in 2009 the lowest level since the 1950s.
“While schemes such as Kickstart and Homebuy Direct have provided the biggest cash injection ever into the sector they do not translate into volume building. Now more than ever government funding is crucial to the future of housebuilding in the UK.
“The political parties may have started their campaigning but appear to be silent or afraid to commit to any concrete housing policies. A raft of cuts in public spending is inevitable, which ever party wins the next election, but they must not be made at the expense of a housing market recovery.”
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NEWS 
