First Time Buyers
Homebuilding on the up across the UK
According to the Royal Institution of Chartered Surveyors (RICS), 41% of its members reported growth in privately-funded housing projects in the third quarter.
This is the first time growth is being reported across all parts of the country since the crash six years ago, according to RICS. Furthermore, the overall construction sector saw a welcome boost during the three months to September.
Workloads are also rising at their strongest rate since summer 2004, leading to expectations that 50% more jobs will be created. But there has already been a jump in reported skill shortages, suggesting capacity will be stretched if the recovery continues to gather pace.
However, housebuilding starts rose just 6% in Q2 with completed builds rising to 9%, according to government figures out in August, although this still half the pre-crash average.
The Department of Communities and Local Government figures showed 110,530 homes were started in the 12 months to June this year, 7% up on last year, but 40% down on the March 2006 house building peak.
Simon Rubinsohn, RICS chief economist, said:
“While it’s certainly good news that construction and especially housebuilding is finally on the rise right across the UK, we are certainly not out of the woods yet.”
There are 0 Comment(s)
Six bank statement mistakes that can ruin a mortgage application
Being overdrawn and having a history of payday loans can be red flags to lenders when they...
Revealed: England’s most affordable rental locations
Which Cumbrian borough is the cheapest place to rent a home compared to average earnings?
Santander updates lending criteria for self-employed
Lenders are being more cautious about how they assess the income of self-employed borrower...
Guide to borrowing past retirement age
As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...
Mortgage market biased against homeowners
Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...
Should buy-to-let investors ‘go Dutch’?
The Netherlands is revealed as Europe’s top buy-to-let property hotspot
Private sector tenants in poverty double in decade
The number of private rented sector tenants in poverty has doubled in the last decade from...
Large mortgage broker firm launches with fees of over 1%
An insurance firm has launched a mortgage advice service
Second steppers targeting detached properties
Those living in their first home are increasingly looking to reduce the steps to their lon...
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 300 High Holborn, London WC1V 7JH, Company.