Education
New manifesto calls for a more democratic planning system in the UK
A new manifesto has been launched in the UK to fight back against what it calls an assault on the country’s planning system and calling for a more democratic outlook for home and infrastructure building. Over 60 organisations and individuals have come together to call on the Government to ensure that people are placed back at the heart of the planning system, led by charity the Town and Country Planning Association (TCPA) and supported by environmental and disability rights organisations, professional bodies, housing associations and community groups. The manifesto represents the views of a broad cross sector coalition of organisations and individuals who share a common belief in the value of planning to improve the quality of lives and the condition of communities, according to TCPA chief executive Kate Henderson. ‘We believe that a powerful and democratic planning system can help ensure the delivery of decent healthcare, schools, jobs, public transport and affordable homes which are accessible and have enough space for kids to play,’ she said. ‘These are things that all sections of society should be able to enjoy as a matter of course, regardless of where they live or their ability to pay. However, the planning system as we knew it is being continually undermined and devalued though significant reforms and deregulation,’ she explained. ‘Over the last 30 years the reputation of planning has declined and it has lost all sense of the progressive social values that once lay at its core. This is partly because it lost sight of any vision that connected with people's real lives and partly because planning regulation was seen as a brake on the free market. We know this is wrong: the countries that are creating great places have strong planning systems,’ she pointed out. ‘That is why we have brought together organisations and individuals who are determined to ensure that planning shapes the kind of places that this nation deserves. Planning must change so it is genuinely focused on people's needs. Our objective is to reinvent creative social town planning which did so much to lay the foundation of a civilised Britain,’ she added. The manifesto says that the Government should give councils back power over permitted development, rebalance the National Planning Policy Framework to ensure that outcomes for people are just as important as the needs of land owners and developers, and restore a comprehensive framework of place making standards for housing including mandatory minimum standards for accessibility and space. It also says that local Government should adopt a strong social dimension to local plans. This means shaping policy that prioritises place making, providing for the full range of hard and soft infrastructure, and ensuring social and affordable homes receive the highest priority. It also suggests that the private and third sectors should establish corporate commitment to a fair and inclusive planning system while planning professionals and academics should transform planning education to ensure planners have the right skills in community development. As… Continue reading
UK sees record investment in student housing market
Total investment volumes in the UK student housing market reached record levels in the first three quarters of 2015, exceeding US investment volumes for the first time, new data shows. In terms of larger deals of $7.5 million plus, excluding land sales, the UK saw investment of $6.5 billion, compared to just over $3 billion in the US, according to research from international real estate advisors Savills. The firm’s World Student Housing Report states that the UK’s record levels have been driven by foreign investment, led by North America which was the source of 80% of all cross border deals in the 12 months to September 2015. All the top global student investment deals in 2015 have been into the UK, led by the Canada Pension Plan Investment Board’s $1.7 billion purchase of the Liberty Living Portfolio and Greystar/PSP’s purchase of the Nido London Portfolio for $920 million. ‘Reflecting the maturity of the UK market, the major transactions have all been portfolio deals. Increased investment activity has brought with it yield compression, particularly for investments in prime London where net initial yields on direct let properties are now around 5%,’ said Paul Tostevin, associate director of Savills World Research. After the UK, Savills cites The Netherlands, with its English language education offer, emerging as a highly investible proposition. The Netherlands has seen average annual investment of $200 million in the last three years, the majority of which has come from private, domestic capital, but foreign investment is growing. In Germany early investors have successfully launched a premium product, filling a gap in the market next to the not for profit Studentenwerk offer, while France’s student housing market is characterised by growing investor interest but limited available supply. This has put downward pressure on French prime student yields, which stand at 5.4%. Beyond Europe, Australia is a key emerging market given its high quality of life and proximity to two of the top five source markets for international students in 2015 which are China and South Korea. ‘This is the first time the UK has outpaced the US in student housing investment which is quite remarkable given their disparate sizes. North American, Middle Eastern and Russian investors have led the charge into the UK,’ said Marcus Roberts, the firm’s director of Student Investment and Development. ‘We expect continued global competition for stock, combined with limited opportunities, to lead to further yield compression in the near term, but with the UK remaining the second most popular destination for international students, top tier university cities with low supply, such as London, Bristol and Edinburgh, still offer potential,’ he added. Continue reading
UK report reveals the economic benefits of new home building
House builders in the UK are providing more than just homes with a new report revealing the extent of the benefits. The report from the Home Builders Federation, says that for example, in the South East of England where there is a shortage of new homes, last year some 22,470 homes were started by private house builders, the public sector and housing associations in the sector. But this is just the tip of the iceberg. Based on the findings of the report, the economic footprint of this house building meant that 96,621 jobs were supported, 899 graduates and apprentices positions were created, and 966,210 new trees or shrubs were planted. It also shows that £36,109,290 was contributed towards education in the area, £28,896,420 in extra council tax revenue was generated plus £224,700,000 in other tax contributions, and some £21,031,920 went towards new open spaces, community spaces or sports facilities, or enhancing existing resources through Local Authorities. On top of this 5,168 new affordable homes were built and payments of £497,553,210 were made to local authorities for further provision of new affordable homes. While house building is increasingly being recognised as a key driver of economic growth, there are still not enough new homes being built in the region, the report points out. In the South East, this manifests itself as a shortfall of 12,011 homes every year. If the region was to meet this need, the knock-on economic benefits would be 51,648 jobs created, 480 graduates and apprentices positions created, 516,482 trees and shrubs planted, and £19,301,998 going towards education in the area. There would be £15,446,403 in extra council tax revenue, £120,112,000 in extra tax contributions, £11,242,483 contributed to open spaces, community, sport and leisure facilities, 2,763 affordable homes built and payments of £265,964,002 to local authorities for further provision of new affordable homes. 'House building makes a huge, but largely hidden, social and economic contribution to the South East. And whilst housing output in the region has increased, we are still not delivering anywhere near what is needed' said Stewart Baseley, executive chairman at HBF. 'As well as delivering desperately needed new homes, increasing housing supply would deliver significant additional benefits for everyone living in the region. As well as providing desperately needed new homes, increasing house building would deliver massive additional benefits to communities across the land,' he explained. 'People often don't realise that the new community centre or school or football pitch has been paid for as a direct results of new homes. Ultimately, providing new homes for people also means better facilities for the wider community. These are the very things that turn a collection of houses into communities; brand new places where people want to live,' he added. Neal Hudson, associate director at real estate firm Savills, pointed out that house prices in the South East have risen by 17.3% over the last two years. 'However, the performance of markets within a region can vary substantially. These variations are determined by the economic, demographic and affordability profile of demand… Continue reading
