|
15 March 2007
New homes petition launched.
If you want greater protection when you buy a new home sign the petition at: http://petitions.pm.gov.uk/newhome/
It reads: “When you buy a new home, you get a 2 year warranty provided by the builder. If you have a dispute with your builder, the NHBC can step in to arbitrate but they are paid for by the builders (about 10% of your house price goes to them). Houses can be handed over from the builders with hundreds of defects and getting them rectified can take months/years. You have more consumer rights buying a tin of beans from your supermarket. I petition the Government to introduce a government regulator to oversee this industry.”
8 March 2007
The NHBC's statistics reveal that 185,000 new homes were built in 2006. This is up 7% on 2005 and 25% higher than in 2001.
In the last quarter of 2006, 73% of new homes were sold for more than £150,000 a 4% increase on the same period in 2005.
The 'first time buyers ability to buy index' fell by 9 points at the end of 2006 to 58. This index is based on house prices, income and interest rates. The higher the number, the greater the ability to buy.
5 February 2007
Barratt Developments buys Wilson Bowden.
The board of house builder David Wilson Homes, part of the Wilson Bowden plc, has backed a £2.2 billion takeover by Barratt Developments. Barratt said the purchase would provide a more balanced regional profile, as well as an increased land-bank, representing more than five years worth of supply.
The proposed deal, which still requires the approval of shareholders other than the Wilson family, would create a company with a stock market value equal to Persimmon, currently Britain’s largest house builder and the first house builder to be placed in the FTSE 100 index.
The deal will net Wilson a family fortune of around £700 million in cash and shares.
21 January 2007
Linden in buyout talks.
Linden Homes, the south east regional house builder, is in exclusive talks with Galliford Try with a view to a £200 million takeover. Linden, which last year made a profit of £12.8m on a turnover of £280m builds around 1100 homes a year. HBoS has a 35% stake in Linden following the management buyout in 2000.
21 January 2007
David Wilson Homes In takeover speculation.
Wilson Bowden, parent company of David Wilson Homes is the subject of takeover speculation. Scottish Tycoon Sir Tom Hunter and HBoS have joined forces to table a £2 billion-plus cash bid.
Barratt Developments and George Wimpey are also poised to offer up to £2.2 billion. Wilson Bowden shares were up 33p to 2300p at Friday's close (20/1/07)
19 January 2007
Crest Nicholson in take over speculation.
Crest Nicholson plc has been approached by the HBoS banking group consortium to take over the company. Last year Crest successfully fought off a bid from Gerald Ronson’s Heron - Crest's largest shareholder at that time.
19 December 2006
Energy performance certificates.
These are soon to be required for each completed new home and will give purchasers an indication of the energy performance of their new home. The NHBC intends to extend their services to include providing Energy Performance Certificates (EPCs) which are required for each completed plot with effect from 1 July 2007.
19 December 2006
New legislation known as the Regulatory Reform (Fire Safety) Order came into force October 2006.
This replaces the Fire Precautions Act and places responsibility for fire safety and ongoing risk management with the building owner or employer. The additional effect on dwellings is that Building Control is required to consult with the Fire Authority on the common areas of flat developments (stairwells, corridors).
19 December 2006
Terraced houses becoming more popular.
According to the NHBC’s statistics for the third quarter, 18% of new homes started are terraced houses. This compares to 14% semi-detached and 18% detached.
The north of England has seen the biggest increase, with 19% of new homes being terraced, compared with just 9% in 2000. House builders looking to provide a greater proportion of more affordable housing, together with land and planning constraints being likely reasons for this increase.
30 November 2006
House Prices continue to rise.
Both Halifax and Nationwide show average house price rises of 9.6% for the year to 30 November 2006. The average price of a home has risen to £187,995 (Halifax) and £172,185 (Nationwide)
30 September 2006
House prices.
Figures from the Land Registry for the third quarter of 2006 show the average annual price rise of 8.66% with the average house price now at £211,453.
18 September 2006
The Land Registry launches “Chain Matrix”
The land Registry is testing a prototype of a system that will allow buyers and sellers to check how many other people are involved in their particular property chain. The scheme is named Chain Matrix and it will be tested in the Bristol, Fareham, and Portsmouth areas from November 2006.
The Land Registry’s website states that ..... “most residential property sales are part of a chain - with each transaction dependent on the progress of others further up or down the line. Hold-ups in the chain can cause long delays for everyone involved, made worse by the difficulty of locating the bottlenecks. Chain Matrix will make the process clearer and more understandable by allowing conveyancers, estate agents, lenders, buyers and sellers to keep track of their chains. Conveyancers will update the information on screen at each key stage of a sale or purchase. The professionals will then be able to pinpoint and sort out any problems while buyers and sellers are kept fully informed of the progress of their counterparts up and down the chain.”
This system will be of particular interest to the new home buyer as they are invariably at the head of the property chain and therefore more likely to suffer should there be any problems further down.
16 September 2006
Portman and Nationwide building societies announce proposed merger.
Portman Building Society have recently announced that they propose "merging" with the Nationwide in September 2007. Robert Sharpe, Portman Chief Executive will retire on the date of the merger. Portman members have been informed they are likely to receive minimum "merger bonus" payments of just £200.
Is this bad news for Portman savers and borrowers? Nationwide savings rates are for most part not as attractive as those offered by the Portman. Nationwide mortgage rates are higher, Nationwide rates for both are seldom in the best-buy tables!
According to the Mail on Sunday, "Nationwide has more to learn from Portman about prudent management. A review of the latest accounts indicates that Portman generates more profits and fewer management expenses per pound of assets managed than Nationwide" Nationwide boss Philip Williamson has admitted that Nationwide "suffers from a poor back office"
Should Portman savers should think very carefully before agreeing to this takeover? - because that is what it is. The Nationwide has assets of £121 billion whilst the Portman has a mere £18 billion.
29 August 2006
Builder’s end of year approaching.
Time is running out to reserve a new home to avoid a rushed “end of year” home. This run up to the year end is known in the industry as the silly season. If your new home still has scaffolding after the end of September it has the potential to be a rushed, lower quality home. Click on the link to see builders end of year dates.
18 August 2006
NHBC News Online release
Increase in number of new home applications:
The number of homes registered with the NHBC during the first six months of 2006 was 101,622 (Private : 88,358 and Housing Associations : 13,264) an increase of 8% on the same period for 2005. The average anticipated selling price by builders is also up by 6% (from Q2 2005) to £190,000.
Drainage defect claims on the increase:
The number of drainage defects is increasing. Feedback from 2700 surveys carried out by the NHBC, found that whilst the drainage was being laid in accordance with manufacturer’s and NHBC standards, valid claims were increasing. This is thought to be caused by the increasing use of brownfield sites which may cause settlement to the drainage, the drainage being laid shallow with minimum falls and the increased use of forklift traffic on sites in recent years causing damage to shallow, unprotected drainage.
18 July 2006
Government announces phased HIP roll-out to begin with energy certificates
DCLG News Release 2006/0061
The Government today announced plans for the introduction of Energy Performance Certificates as part of the phased roll-out of Home Information Packs to help consumers cut costs and waste when buying a home and help the environment too.
|
