Tag Archives: countries
Over a third of councils in England are boosting self build homes
More than 130 local councils in England, some 39%, are already taking action to help boost the opportunities available for people who want to build their own homes, new research shows. This first comprehensive survey of custom and self build activity across all local councils in England also shows that one in five councils have already set up a local custom and self build register or carried out assessments to measure local demand for people who want to build their own homes. On top of this 77 seven councils are already creating opportunities for private home builders through their Local Plans, the survey undertaken by the National Custom and Self Build Association (NaCSBA) found. These involve a range of initiatives from policies asking for a mix of homes on sites and promoting private home building as part of affordable housing initiatives, to requiring building plots on larger housing sites, supporting collective projects and commitments to work with industry and local communities to identify suitable opportunities and, in some cases, providing finance support. More than 30 councils are identifying suitable sites or locations where private home building is encouraged and in some cases are disposing of public land or buying land and a number of councils are also identifying more significant opportunities. Opportunities include the re-use of former public sector sites, proposals to include private home building opportunities as part of future urban and village extensions, and introducing new planning policies that encourage affordable self and custom build homes in rural areas. Councils in the North East are currently the most proactive where 70% of them are progressing initiatives to make it easier for people who want to build their own homes. Two other regions, the South West and the West Midlands, have half or more of all councils bringing forward initiatives. The least active region is currently London, where just 21% of councils have so far taken action. However, since 2012 the overall level of local authority activity across England has approximately trebled. The association says that if this level of activity continues then by the end of 2016, between 150 and 200 councils will have brought forward new planning policies and initiatives to support private homebuilders across England. By the end of 2018 the combined impact of all these initiatives will assist towards enabling up to 10,000 more self or custom build opportunities to come forward and if this happens the scale of the current self build sector will have doubled. The NaCSBA research and development team has already completed visits to several German regions, and locations across the Netherlands, Belgium, France, Spain and Scotland. In addition the team is examining the Irish, US and Australian markets, and is currently investigating how the Scandinavian and some Far Eastern sectors operate. ‘Our international work has focused on how local councils support people who want to build their own affordable homes. In most other countries a significantly higher proportion of all housing… Continue reading
US sales to foreigners down but they are buying higher value real estate
Total property sales in the United States to international home buyers have decreased from last year, but in terms of price the sales dollar volume increased 13%, the latest data from estate agents shows. From April 2014 through March 2015 total international sales were estimated at $104 billion, compared to the previous year's estimate of $92.2 billion, according to the figures from the National Association of Realtors. In 2014 sales transaction to buyers outside of the US dropped 10%, possibly due to the strengthening of the US dollar in relation to international currencies and weakening foreign economies, according to NAR chief economist Lawrence Yun. ‘However, the amount of money spent has increased; this means international purchasers in the US have become an upscale group of buyers, spending more money on fewer homes,’ he explained. In 2014 five countries accounted for 51% of all purchases by international buyers. These were led by China, followed by Canada, Mexico, India and the United Kingdom, the data also shows. For the first time, buyers from China exceeded all other countries in terms of units purchased and dollar volume, purchasing an estimated $28.6 billion worth of property. Buyers from Canada followed with $11.2 billion in purchases, followed by India with $7.9 billion, Mexico with $4.9 billion and the UK with $3.8 billion. International buyers tend to purchase more expensive properties with the average purchase price being $499,600, compared to the overall US average house price of $255,600. Chinese buyers typically purchased the most expensive properties, at an average price of $831,800. Some 35% of real estate agents reported working with an international client in 2014, up from 28% in 2013 and 46% said international buyers were seeking main homes, 20% wanted buy to let and 26% was for investment rentals. Global buyers also purchased properties for commercial rentals and as residences for children studying in US educational institutions. Indian buyers were the most likely to purchase a primary residence with 79% doing so, while Canadian buyers were most likely to purchase property as a vacation home with 47% doing so. While international buyer clients purchased property across the nation, four states accounted for half of all international sales: Florida, California, Texas and Arizona. Florida remains the top destination for international buyers with 21% of all foreign purchases, followed by California at 16%, Texas at 8% and Arizona 5%. Chinese buyers tended to gravitate towards the West Coast, which provides ample education, business and trade opportunities, while Canadians seeking winter vacation opportunities focused on the Southwest and Florida. The majority of international purchases, some 55%, were all-cash, compared to about 25% of all purchases made by domestic buyers. Mortgage financing tends to be an issue for non-resident international clients because of a lack of a US based credit history or Social Security number, difficulties in documenting mortgage requirements, and financial profiles that can be different from those normally submitted to financial institutions by domestic residents. Continue reading
Call for new legislation to create national property insulation standard in UK
All new and existing homes in the UK should have to meet national insulation standards with incentives such as a cut in stamp duty for properties that meet them, it is suggested. A new report from the Institution of Mechanical Engineers also calls for insulation installers to have to sign up to a certification scheme similar to Gas Safe registration. It wants the government to urgently introduce legislation for a national insulation programme to cover every UK home that would declare all building stock as ‘national infrastructure’ and provide incentives, such as a reduction in stamp duty, for homeowners to install insulation to national standards. For those who cannot afford to pay, a national scheme to cover the cost of work would be funded by general taxation and the report also calls for installers of energy demand reduction measures to be trained to meet a mandatory competence registration, similar to the CORGI certification / Gas Safe Register for gas installers. ‘The UK’s housing stock is some of the most poorly insulated in the developed world, largely because of the age of much of the countries domestic dwellings and the failure of successive governments to take the meaningful action required on energy efficiency measures,’ said Dr Tim Fox, lead author of the report and a fellow of the Institution of Mechanical Engineers. He pointed out that the amount of money and fuel that is wasted on heating poorly insulated homes is appalling. ‘The UK is facing a future of depleting UK gas reserves. It is clear that it is time for urgent action to improve energy efficiency in UK homes,’ said Fox. ‘Incentives could include schemes such as enabling sellers to offset the cost of upgrading their insulation to national standards against the stamp duty payable on the sale of the home,’ he added. He also want the government to recognise the importance of the installer community in achieving its energy security and decarbonisation goals for heat provision and introduce ‘free’ training alongside a new mandatory competence registration for installers of energy efficiency and sustainable supply systems. I According to the report, the UK’s current heat infrastructure evolved in response to the availability of abundant supplies of affordable North Sea gas but is no longer fit for purpose to meet the country’s future energy security challenges, social needs and decarbonisation aspirations. Continue reading
