Wates Group director Andy Wates has taken over as chairman of the Construction Youth Trust.

He succeeds Rod Bennion, chairman of McNicholas and Mabey Group, who was chairman of the trust for 12 years and on the board for 14.

Construction Youth Trust works with young people from challenging backgrounds to help get them into the construction industry. Andy Wates has been a director for nine years already.

Andy Wates is one of five Wates family members on the company’s group board and the fourth generation of the family at the helm. He joined the Wates Group in 1995 after six years with Costain and John Shreeves & Partners. He is now Wates Group's portfolio development director, looking after long-term investments.

Mr Wates said: "Our vision with the trust is all about inspiring and enabling young people to overcome barriers and finding them work in the construction industry, and now with construction coming out of the recession there are fresh opportunities for us to create more apprenticeships. I really do have so much respect and admiration for what the trust does."

Unite shop stewards are to decide next week on possible industrial action after electricians and labourers in the union rejected a 5% two-year pay deal in a consultative ballot.

Unite said that the offer was ‘woefully inadequate’, given soaring household bills.  It added that its members are also unhappy that employers want to introduce a ‘new entrant’ grade with an 18-month probationary period with a pay rate 25% below the labourers’ grade.

The union was offered a 2% rise from January 2015 and 3% from January 2016 – 5.06% over two years. Unite balloted more than 7,000 electricians and labourers and by a margin of 91% they rejected the pay package. Average pay of an electrician is currently £29,000 a year.

 Unite national officer for the construction industry Bernard McAulay called for the Electrical Contractors’ Association and its Scottish counterpart Select, which together represent more than 1,000 employers, to return to the negotiating table.

“The pay offer is woefully inadequate as the cost of living continues to soar. Pay packets are being eroded in real terms, while companies still chalk up handsome profits,” Mr McAulay said.

He described the proposed ‘new entrant’ grade as “a bid to drive down wages of highly skilled workers”.

Mr McAulay added: “The decisive result of the consultative ballot clearly demonstrates that the workforce cannot be bought off when the future stability of the industry grading structure and hard won skills sets are being put at stake.”

Unite shop stewards from across the country will meet on Monday 4th August to decide the next steps, which could include an industrial action ballot.

After six years of sluggish activity, the Barbados luxury homes market is picking up according to the latest report from Knight Frank.

Christian de Meillac, Knight Frank’s Head of Caribbean sales said that he has seen a marked increase in buyer enquiries and this is backed up by the number of online property viewings being generated via Knight Frank’s Global Property Search Website which have increased 56.7% in the year to June 2014.

‘The sun seems to be rising again on the Barbados property market as the traditional selling season is extending into summer. Buyers are back and we are seeing regeneration in the market with more and more sales along the premium west coast from Bridgetown to Speightstown,’ he explained.

‘With the positive signs coming from the UK economy, price discounts and a new impetus amongst buyers, we have seen a marked increase in sales and interestingly, this is continuing into the summer months when things traditionally quiet down,’ he added.

In terms of the nationalities buying, UK buyers still lead the market accounting for around 70% of all prime sales, followed by Canadians but the presence of European buyers is also on the increase.

‘Demand varies according to price. The most popular spot seems to be those properties located along the west coast and priced between US$1 million and US$3 million. Beachfront apartments and standalone villas are generating the most interest with a sea view and privacy the two key prerequisites,’ de Meillac pointed out.

‘However, this has also been a year of record deals at the top end of the market, with two deals circa US$20 million and one deal rumoured to be in excess of US$40 million, a sign that things are looking up,’ he explained.

An analysis of applicant numbers now with a year ago shows that not only are more applicants registering their interest in a Barbados home but a greater proportion of them are buying.

De Meillac believes the strong pound has been influential. ‘The more favourable exchange rate has certainly assisted British buyers, not only providing them with an effective discount on the property price but visits on the whole are less expensive. Cars, dining and golf are all more affordable and the UK government is considering reducing taxes on long haul flights to the island. This also encourages tourism, and in turn home owners can increase their rental income, again helping reduce the cost of the property,’ he said.

However, despite the strengthening pound and the fact that Barbados is attracting more buyers and seeing more sales, locally property prices have not begun to increase. ‘Buyers are well informed, taking their time and researching the market thoroughly. Vendors need to be patient and it is still the best priced properties that are attracting attention,’ he added.

For the first time ever, average rents in Greater London are more than double those across the rest of the UK at £1,412 and £694 respectively, new research shows.

Average UK private home rents have increased 6.3% in the last 12 months, now standing at £862 per month compared to £811 a year ago, according to the latest HomeLet rental index.

It also shows that the North East of England, Scotland and Wales offer the most affordable rent when comparing rental prices to average tenants’ incomes in the regions,

Overall it says, the average cost of renting a home in the UK has risen so quickly in some locations that Greater London, the South West and the South East of England are pushing the bounds of affordability.

While this figure was inflated by very large rental increases in Greater London, where rents are up by 11.2%, rents have risen year on year in 10 out of 12 regions of the country, with only the North East of England and Scotland seeing minor falls in rental prices.

The London market continues to race ahead with the average monthly rent in Greater London being £1,412, compared to £694 for the rest of the UK, excluding London, meaning that London rental prices are now more than double those of the rest of the UK for the very first time.

When comparing average rental prices to average tenants’ incomes, Greater London represents the least affordable rental market in the UK, with the average tenant’s gross income being just 2.23 times the average annual rental.

Other regions feeling the squeeze on affordability are the South West and South East of England with the average tenant’s gross income being 2.55 times and 2.93 the average annual rental value in the respective regions.

‘The private rental sector continues to show strong growth with rental values increasing year on year across the country, with little exception. Although average incomes have also been rising, there are parts of the country where we are seeing affordability getting tighter,’ said Martin Totty, Barbon Insurance Group’s chief executive officer.

‘As a rule of thumb, for a rental property to be affordable, a tenant’s gross income must be at least two and a half times his or her annual rent. Our data shows that rents in London have pushed beyond that boundary, with the South East and South West of England close behind,’ he added.

A breakdown of the figures shows that the annual variation in average rental value in Greater London is 11.2%, in East Anglia it is 6.4%, in Wales 4.7%, in the South West 4.6%, in the South East 4.4% and the West Midlands 4.3%.

The North West saw a variation of 2.9%, Yorkshire and Humber 2.2%, Northern Ireland 2% and the East Midlands just 0.2% while there was a decline of 2.3% in the North East and 3.8% in Scotland.

‘The options for Londoners who are looking to rent in the capital are…

Average house prices in England and Wales have seen annual growth of 6.4% but price growth stalled in June, according to the latest flagship Land Registry House Price Index.

There was no change in June compared with the previous month but with the average price of a home now at £172,011, the market is not far off the peak of £181,466 in November 2007.

London has seen the greatest increase in its average property value over the last 12 months with a movement of 16.4% and the North East saw the lowest annual price growth with a rise of just 0.8%.

The West Midlands experienced the greatest monthly rise with growth of 1.9% Yorkshire and the Humber saw the most significant monthly price fall of 1.3%.

The most up to date figures available show that during April 2014 the number of completed house sales in England and Wales increased by 31% to 66,659 compared with 51,022 in April 2013.

The number of properties sold in England and Wales for over £1 million in April 2014 increased by 39% to 1,028 from 740 in April 2013. The region with the greatest fall in repossession sales in April 2014 was the West Midlands.

According to David Brown, commercial director of LSL Property Services, confidence is all about stability and he believes that the property market is delivering that. ‘We are seeing a shift from a period of catch-up to one of stable price growth and across the country, prices are now rising more uniformly too. All of this will reassure buyers and sellers and encourage more investment in new homes,’ he said.

‘Certainly, investment is what’s required. By contrast, the private rented sector has delivered below inflation rent rises for more than 12 months now, due to extra supply via landlords expanding portfolios. And across all tenures, the affordability of housing will ultimately depend on having enough homes to go around. A healthy purchase market is just the first step towards serious growth,’ he added.

Peter Rollings, chief executive officer of Marsh & Parsons, pointed out that after a frenetic start to the year, the pace of house price growth has slowed as the market stabilises and returns to more normal trading conditions.

‘With more choice coming onto the market, sellers are able to find their next onward purchase and consider trading up. Calmer conditions in the market have meant buyers view purchasing London Prime property as a less daunting process than has been the case previously,’ he explained.

‘London house price inflation made headlines all across the world at the start of the year, and this hasn’t escaped the attention of canny investors looking for a safe harbour for their capital. But the demographic of investors is changing and contrary to popular belief, the prime London property market isn’t being propped up by overseas money,’ he said.

He also pointed out that there is a new wave of UK ‘pension’ investors looking for steady rental yields and guaranteed long term capital…

Fewer people in the UK think the coming months will be a good time to buy a property with more than half believing it is a good time to sell, the latest confidence tracker report shows.

It says that confidence in the housing market is split and while the public have never been more optimistic about house sales, the outlook for the purchase market is at its lowest level since 2011.

The quarterly Halifax Housing Market Confidence tracker shows that 57% feel it will be a good time to sell in the next 12 months, exceeding those who think it will be a bad time at 32%.

This is the highest score of this measure since the survey’s inception in April 2011, making a net balance of +25 compared with +12 in the fourth quarter of 2013 and -6 in the third quarter of 2013. Sentiment towards selling is even stronger among owner occupiers with 63% stating that now is a good time to sell.

In contrast, the proportion of respondents who feel that now is a good time to buy has fallen to a net balance of +5, a fall of 29 points in the last quarter. This is the largest fall in this measure since the tracker’s inception in 2011.

Positive sentiment fell by 16 points among owner occupiers between the first and second quarters of 2014 and is now at 53% and those in London and the South East are the most negative.

Positive sentiment towards selling is highest in the East and South East, where 65% think it will be a good time to sell, compared with only 36% who say this in Scotland.

Overall net balance of respondents thinking that in the next 12 months it would be a good time for people to sell a property less those who think it will be a bad time for people to sell a property.

‘Over the past two years consumer confidence has continued to grow, however it appears that we’ve reached a tipping point with the equilibrium between buyers and sellers much more out of sync,’ said Craig McKinlay, mortgages director at the Halifax.

‘The results highlight the regional variations as now people believe that it’s a good time for to sell but not buy, particularly in London and the South East where house price expectations are generally higher and buyers appear to be less inclined to rush into a buying a property as we have seen over the past 12 months,’ he added.

The report also reveals a sharp rise in the number of people identifying rising prices as a barrier to buying, now at 35% which is up from 20% a year ago. Concerns about rises in interest rates is on an upward trajectory, up from 13% a year ago to 18% but, still, deposit raising remains the biggest perceived barrier as mentioned by 55%.

Some 71% predict the average UK house price will rise over the next year with 30% expecting it to…

Companies wanting to drill for natural gas deep under the UK have been invited to apply for licences under a new planning regime designed to promote fracking.

The government has today published details of how companies can apply for these licences to speed up the development of fracking in the UK.

In a sop to those who argue that pumping chemicals deep underground to release natural gas is hazardous and potentially polluting, the government has said that it would allow fracking in National Parks, Areas of Outstanding Natural Beauty and World Heritage Sites but only if there were “exceptional circumstances” or it was “in the public interest”.

Communities minister Lord Ahmad of Wimbledon said: “Effective exploration and testing of the UK’s unconventional gas resources is key to understanding the potential for this industry – so the government is creating the right framework to accelerate unconventional oil and gas development in a responsible and sustainable way.

“We recognise there are areas of outstanding landscape and scenic beauty where the environmental and heritage qualities need to be carefully balanced against the benefits of oil and gas from unconventional hydrocarbons.

“For this reason, I am today making clear our approach to planning for unconventional hydrocarbons in National Parks, the Broads, Areas of Outstanding Natural Beauty and World Heritage Sites. Proposals for such development must recognise the importance of these sites.”

The licences provide the first step to starting drilling. Planning permission will also be needed, as well as permits from the Environment Agency and sign-off from the Health & Safety Executive.

Business and Energy Minister Matthew Hancock said:  “As one of the cleanest fossil fuels, shale gas can be a key part of the UK’s answer to climate change and a bridge to a much greener future.”

The number of products on the market to service the growing interest in buy to let mortgages in the UK has risen to highs not seen since 2008, new research reveals

The research by Moneyfacts shows that the number of buy to let products on offer in July 2013 increased to 466, but now the number has risen by 42.7% to 665.

At the same time, average interest rates charged for both fixed and variable deals have fallen to the lowest levels ever at 4.17% for the average fixed rate and 4.03% for the average variable rate.

Lender interest in the buy to let market may be fuelled by the knowledge that it falls outside of the recent Mortgage Market Review which makes getting a loan more rigorous, according to Sylvia Waycot, Moneyfacts editor.

‘This makes the process of granting any buy to let mortgage quicker and simpler as it is not subject to the new affordability criteria that is starting to clog up the mainstream mortgage market,’ she explained.

‘In addition, the new pension regime means that retirees could consider by to let as a way of supplementing their income instead of purchasing an annuity,’ she added.

She also pointed out that Help to Buy is attracting potential borrowers into the housing market, but the advent of MMR is acting almost like a contradiction, putting the brakes on the process, and the funding element, although sensible, is making it harder for some to get onto the housing ladder.

‘Ultimately this all points to the buy to let market being here to stay and to remain attractive to lenders, hence the surge in products on offer for landlords who seem assured of a healthy supply of tenants,’ Waycot concluded.

Three 100m-high cooling towers at Didcot power station were brought down in a controlled explosion yesterday.

Birmingham-based demolition contractor Coleman & Co is working on a three-year project to pull down the redundant Didcot A plant in Oxfordshire.

At 4am on Sunday 27th July, three of the six cooling towers were reduced to rubble in less than 10 seconds.

Kevin Nix, head of RWE Generation UK, said: ”Although this is a sad day and the end of an era in many ways, I am very pleased that the technically challenging demolition of the southern cooling towers has been carried out successfully and above all with the safety of all those involved, including the local community, as its highest priority. This is entirely due to months of pre-planning and the professionalism of the specialist teams involved.”

RWE Generation UK announced the closure of the 2,000MW coal-fired Didcot A power station in September 2012 after 42 years of service. The station closed on 31st March 2013 and the nine month decommissioning process finished in November 2013.

RWE's neighbouring 1400MW gas-fired power station, Didcot B, will continue to generate electricity generation for many years to come.

Coleman & Company is continuing to clear the rest of the site, including the northern cooling towers and the chimney stack, to be completed by the end of 2016. (See our previous report here.)

Yesterday’s demolition was live streamed over the internet in a bid to keep spectators away. Several hundred still turned up to watch it, however.

Setting the charges…

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The event attracted a lot of media attention. Even the final pre-blast plannign meeting was filmed.

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Latest construction company to buy into glow-in-the-dark hi-viz gear is Aggregate Industries.

Based in Scotland, both the asphalt and highways divisions of Aggregate Industries (AI) have purchased the Fhoss Technology powered light safety wear for their on-site workers, to allow them to be more visible in the dark.

Unlike traditional reflective tape, which works by reflecting off an additional light source, Fhoss’s technology allows workers to be light up without the need for ambient light.

Danny Taggart, site manager with the Scottish asphalt division of Aggregate Industries, said:  “When wearing Fhoss, it is really noticeable just how much the boys on the ground stand out in the dark. Unfortunately, there are always going to be some areas of our site where ambient light is not present. However, with Fhoss, this doesn’t matter. When wearing their jackets, my men can be seen at all times, with or without the presence of an additional light source and from a good distance away. “

Residential property prices in Ireland have increased by 12.5% in the year to June, up from10.6% in May, according to the latest index from the Central Statistical Office.

It is substantially up on the increase of 1.2% recorded in the 12 months to June 2013 and up 2.9% month on month, up from the 2.3% recorded in May and an increase of 1.2% recorded in June of last year.

In Dublin residential property prices grew by 3.3% in June and were 23.9% higher than a year ago, the data also shows but experts suggest that a supply shortage is behind the market growth.

Dublin house prices rose by 3.1% in the month and were 24.4% higher compared to a year earlier while apartment prices were 18.2% higher when compared with the same month of 2013.

However, a CSO spokesman said that it should be noted that the sub-indices for apartments are based on low volumes of observed transactions and consequently suffer from greater volatility than other series.

The price of residential properties in the rest of Ireland rose by 2.3% in June compared with an increase of 0.7% in June of last year and prices were 3.4% higher than in June 2013.

A breakdown of the figures show that house prices in Dublin are 42.7% lower than at their highest level in early 2007 while apartments in Dublin are 50.5% lower than they were in February 2007.

Residential property prices in Dublin are 44.5% lower than at their highest level in February 2007 while in the Rest of Ireland they are 45.8% lower than their highest level in September 2007. Overall, the national index is 43.4% lower than its highest level in 2007.

Meanwhile, figures from estate agents, Douglas Newman Goode (DNG,) suggest that there has been a 5.9% increase in Dublin house prices since the end of April. It says that house prices in the capital climbed by €20,000 since the end of March or €220 per day in the capital and found that houses with price tags of less than €250,000 grew at the fastest rate 10.9% in the second quarter of the year.

Between April 2005 and April 2006 the growth in national prices was 13.2%, up on the rate of growth to March 2006 of 12.1% and more than twice the 6.5% rise recorded in the 12 months to April 2005.

Although the rise in prices is generally welcome, experts point out that the recovery in property prices is mainly confined to the Dublin market and the price growth is due to a shortage of supply.

Indeed, the Society of Chartered Surveyors Ireland has called for the prompt implementation of the measures recommended in the government’s Construction 2020 Strategy to address the current housing supply shortage and pace of increases in property prices.

‘Average property prices have increased by almost a quarter since this time last year in Dublin and while property values still remain approximately 45% lower than in 2007, the…

House prices in England and Wales increased by 0.1% in July, a further decline in the rate of growth from 0.3% last month, and the lowest level of growth over a month since February 2013, the latest index shows.

Seasonal factors and an increasingly pronounced slowdown in the London market where prices have stalled in July, have been taking hold, according to Hometrack’s July Housing Survey.

It also reveals the slowest growth in house prices in 18 months and says that weakening demand and a continued slowing in the rate of house price growth is more than just a seasonal slowdown.

Indeed, tougher lending rules and changing buyer sentiment have impacted demand. London, which has been the engine for house price growth, has seen a particularly pronounced slowdown in the last month with a small proportion of markets in the capital now registering price falls.

Also, demand for housing fell slightly in July, with the percentage change in new buyers registering with agents at -0.9% compared to 0% in June. The gap between overall supply and demand has narrowed sharply in the last three months, pointing to a reduction in the upward pressure on house prices, meaning that the measure of demand has moved into negative territory.

Less than a quarter of postcode districts registered a price rise in July, almost half the level seen in the spring, when 50% of markets were registering price gains.

The proportion of the asking price being achieved is starting to decline nationally, as agents find it harder to push prices ahead in the face of weaker demand. The measure is still relatively high but has fallen from 96.8% in May to 96.1%. In London it has declined more sharply from over 99% to 97.5% over the same period.

The time on the market remains flat at an average of six weeks nationally, but there has been a slight rise in London from a recent low of 2.7 in March 2014 to 4.3 weeks. It’s also starting to rise in the South East, but elsewhere the downward trend continues.

The momentum of price rises in the London market has slowed dramatically in the last few months. Just 12% of London postcodes registered price gains in July. 11% of London markets actually recorded lower prices over the month.

‘Seasonal factors always lead to a slowdown in demand and market activity in the summer months, but it is clear that there are bigger forces at work with a pronounced loss of momentum in the London housing market in the last three months,’ said Richard Donnell, director of research at Hometrack.

‘The lead indicators in the survey have pointed to a slowdown in the rate of growth for the last two months, in part due to warnings from the Bank of England and others of a possible house price bubble. Demand for mortgages has also been slowing for several months now,’ he explained.

He also said there…

The number of tenancies agreed across England’s Home Counties rental market between was 50% higher year on year in the second quarter of 2014, according to the latest Knight Frank lettings index.

This has been driven by an increase in demand from corporate tenants working in London and in the first half of the year nearly 40% of all tenancies agreed were to international tenants led by individuals from North America.

The report explains that tenants relocating from the US are often present during the first half of the year, with many wanting to move before the new American school term starts in August.

Not only have activity levels risen in the second quarter, but there are indications that there could be a further pick up in the coming months with the number of potential tenants registering with Knight Frank lettings agents over the three months to June rising by 49%, compared to the same period last year.

Prime rents in the Home Counties increased by 2.6% in the second quarter of 2014, a marked improvement on the 0.7% growth in the first quarter of the year.

The recent strong performance of the Home Counties lettings market has come as global economies return to health, and business confidence in the UK grows, prompting companies to expand and increase corporate relocations. In fact, the latest ICAEW/Grant Thornton UK Business Confidence Monitor shows that business confidence was at a record high level in the second quarter of 2014.

Corporate demand for rental accommodation has come from a range of industries including the oil and gas, tech and mining sectors.

However, despite two consecutive quarters of rental growth, over the 12 months to June 2014, rents are still 3.8% lower.
Looking at supply, the number of new instructions, regarded as a good indicator on the level of stock coming onto the market, was 14% higher across the Home Counties between April and June compared to the same period last year, although the rise varied depending on location.

‘The strong prime sales market in Beaconsfield, for example, where prices rose by 5.4% over the year to June 2014, has resulted in some landlords deciding that now is a good time to sell,’ said Oliver Knight of the firm’s residential research team.

‘This has resulted in a fall in the number of available properties to rent and could serve to underpin further rent rises in the area,’ he added.

The latest update of the government’s National Infrastructure Pipeline says that planned investment has now increased to £383bn up to 2020 and beyond.

The previous update in December put the value at £375bn.

The sectors with the largest values of planned spending are energy with almost £204bn identified and transport, with a value of more than £140m.

The Pipeline, which is converted into an interactive map format by Barbour ABI, is designed to increase the visibility of future infrastructure investment in both the public and private sectors. It is reviewed every six months to ensure new opportunities are reflected and more details are provided as they emerge.

Michael Dall, lead economist at Barbour ABI, said: “This latest Pipeline update will come as very positive news for the construction industry. With the Pipeline representing more than £380 billion of planned infrastructure investment over the coming years, the construction industry will receive a much-needed boost just as the latest output and new contract figures seem to indicate that the high rate of growth is slowing.

“While there have been concerns recently that the industry is becoming too reliant on the housing sector, this Pipeline will offer greater visibility and understanding of the potential opportunities available in the infrastructure sector too.

Multiple safety failings have resulted in fines for a Lincolnshire poultry firm and four of its contractors after workers were caught on a roof without taking proper safety precautions.

GW Padley Poultry Ltd was prosecuted by the Health & Safety Executive (HSE) after inspectors witnessed unsafe working at height while a poultry shed was being built at the company’s site in Wigtoft, Lincolnshire, in March 2012.

The poultry firm was the principal contractor but had no representatives on site. The poultry buildings were supplied by Harlow Bros Ltd of Loughborough, who sub-contracted the erection of the buildings to K & M Tomlinson Ltd, and Philip Bates.

Lincoln Crown Court was told today that HSE visited the site on 13 March 2012 and saw four workers on the roof of a new poultry building. There was no edge protection or scaffolding in place and the height of the gable roof was about 6m.

When the inspector asked the workers to come down, they had to walk about 10m along the sloping roof and down an unsecured ladder. The inspector issued Kenneth Tomlinson, director of K & M Tomlinson, with a prohibition notice, stopping further work on the roof until suitable edge protection was put in place.

When the inspector revisited the site three days later, work on the roof had been completed. A tower scaffold was at one end of the eaves and 12 airbags were on the floor at the other end of the building, but there was still no edge protection.

The inspector returned later the same day with a colleague and found workers, including Philip Bates, on the roofs of two sheds. The scaffold tower seen earlier had been dismantled.

HSE found airbags used for cushioning a fall were loose and anyone falling would have hit the ground. Faults were also found with a forklift truck being used in conjunction with work platform fitted to its prongs. A second prohibition notice was served, preventing further work on the shed roofs.

Further enforcement notices were issued to GW Padley Poultry, Harlow Brothers and Mr Bates to prevent all work on sloping roofs until adequate edge protection and internal fall protection was provided and an Improvement Notice was served on the poultry firm requiring appointment of a competent site manager.

Harlow Brothers put in place a lifeline and harness system for safe working at height, but this was found to be inadequate on inspection and a further improvement notice was served.

The court heard that Harlow Brothers Ltd and Philip Bates have previous convictions for work on poultry house roofs without edge protection.

GW Padley Poultry Ltd of Mount Street, Nottingham, pleaded guilty to breaching regulation 22(1)(a) and regulation 22(1)(c) of the Construction (Design and Management ) Regulations 2007 and was fined £9,000 and ordered to pay £15,000 costs.

Harlow Brothers Ltd of Long Whatton, Loughborough, Leicestershire, pleaded guilty to breaching Section 3(1) of the Health and Safety at Work etc Act 1974 on two separate occasions, the 13 and the 16 March 2012 and Section 4(2) of the Provision and Use of Work Equipment Regulations 1998 and was fined £30,000 and ordered to pay £15,000 costs.

K&M Tomlinson Ltd of Nottingham Road, Long Eaton, pleaded guilty to breaching Sections 2(1) of the Health and Safety at Work etc Act 1974 and Section 5(1)(a) of the Lifting Operations and Lifting Equipment Regulations 1998, and was fined £1,000.

Kenneth Tomlinson of College Street, Long Eaton, pleaded guilty to breaching Section 3(1) by virtue of section 37 of the Health and Safety at Work etc Act 1974 and was fined £1,000 and ordered to pay £3,000 costs.

Philip Bates of The Square, Leasingham, Lincolnshire, pleaded guilty to breaching Section 3(2) of the Health and Safety at Work etc Act 1974 and was fined £4,500 and ordered to pay £5,550 costs.

After the hearing, HSE inspector Martin Waring said: “In this case there was clear evidence of a very poor attitude to health and safety generally on this site. Each of the defendants had clear duties to ensure the safety of the workers, however these were repeatedly ignored.

“Working at height poses very obvious dangers but our visits uncovered a catalogue of safety breaches which could have had led to a fatal or very serious injury for a worker had they fallen. There was a continued and deliberate neglect of duties by particular parties in this case; and directors who disregard their responsibilities will be held personally accountable.”

Residential property sales to first time buyers in the UK have grown 27%, marking the strongest opening half of a year since 2007, new research shows.

There were 146,000 first time buyers between January and June, some 30,000 more than in 2013, according to the First Time Buyers Opinion Barometer from Your Move and Reeds Rains, part of LSL Property Services.

In June alone there were 26,500 first time buyer sales, some 10% more than 12 months ago and topping 26,000 for the second consecutive month, the data also shows.

The last time the opening half of a year saw more first time buyer sales was in 2007 before the financial crisis began to bite when there were 181,500 transactions.

On a monthly basis, there were 26,500 first time buyer sales in June, 10% more than twelve months ago. It was the second consecutive month in which the number of transactions topped 26,000.

The average first time buyer deposit was a fifth lower than a year ago and at the same time, first time buyer purchase prices have stayed fairly stable.

The average first time buyer mortgage has risen 2.9% over the last year to £119,743, while prices have stayed flat but deposits have fallen. The market is indicating signs at first time buyer level of remaining stable and prices not spiralling out of control.

‘The bottom of the market continues to recover, even as activity further up the price bands is beginning to show signs of slowing down. Lenders have been more willing to lend to higher loan-to-value borrowers. Help to Buy has boosted confidence and with it demand among first timers who have been carefully saving up for their deposit,’ said David Brown, commercial director of LSL Property Services.

But he believes that the new loan to income caps could have a stifling effect on the first time buyer market. ‘They have understandably been designed to prevent too much risky lending to borrowers with smaller deposits, but they need careful interpretation to ensure they do not cut good buyers with realistic and very affordable borrowing expectations out of the market,’ he explained.

‘MMR regulations already stress test borrowers’ ability to withstand a base rate rise. The further regulation could sap the energy at the bottom of the market,’ he added.

The data also shows that in June 2014, some 93% of tenants registered with Your Move and Reeds Rains wanted to become home owners and overall the proportion of registered tenants expecting to buy in the near future is increasing. In June 2013, only 12% of tenants expected to buy in the next 12 months. A year later, that proportion has risen to 17%.

A further 38% of tenants surveyed in June 2014 believe they will be able to buy within the next five years and 29% expect to buy at some point in the future.

But the number of tenants who believe they will never be able to afford to buy is also increasing. Some 14% were…

The government has announced that the Green Deal Home Improvement Fund has been closed for applications with immediate effect following overwhelming demand.

A surge in applications over the last two days means the allocated budget has now been reached.  All applications received prior to the fund closing that satisfy the terms and conditions and meet the eligibility criteria will be honoured at the original rates.

The Green Deal Home Improvement Fund was set up to help households in England and Wales improve the energy efficiency of their homes.

Parliamentary under secretary of state for energy and climate change Amber Rudd said: “The Green Deal Home Improvement Fund is a world first and in a short space of time it has proved extremely popular. We were always clear there was a budget which is why we encouraged people to act quickly. As a result, thousands more families will now benefit from Government help to have warmer homes which use less energy.”

Earlier this week Department of Energy & Climate Change (DECC) DECC had announced changes to the scheme.

DECC will monitor voucher redemption rates and will consider whether to launch a further offer should funds become available.

In December 2013, the government announced a £540m three-year energy efficiency package and up to £120m will be available for home energy efficiency schemes from April 2015.

The Highways Agency is piloting the use of wooden barriers to tackle the impact of poor air quality around motorways.

Construction began yesterday of two air quality barriers near junction 18 of the M62 near Simister, Greater Manchester, along which more than 142,000 vehicles drive every day.

The £2.5m scheme will build barriers on each side of the motorway by September, before a year-long trial to test their effectiveness in tackling harmful vehicle emissions will start.

The barriers, which have been trialled in other European countries, work by dispersing emissions and can act as an safeguard to communities near busy roads. The results of international studies so far show the barriers can reduce the level of oxides of nitrogen by up to 20% in some areas.

If successful, the barriers could shape the future design of other major road schemes where air pollution exceeds legal thresholds according to the Highways Agency. Senior project manager Jacqui Allen said: “We need to ensure that whilst government spending to improve England’s road network is tripling to over £3 billion by 2021, it is vital we also look after our environment.

“This pilot will provide us with more evidence as to whether these barriers can be effective, and is just one part of our research to find new ways of dispersing harmful emissions.”

Each wooden barrier will be 100m long and 4m high, increasing to 6m if needed. The barriers are supported by steel structures and positioned on either side of the motorway, in an offset position from each other, to the east of junction 18.

The equipment to monitor local air quality levels will be placed at either side of the barriers and behind, with the equipment behind stretching back to a distance of up to 200m. This allows for samples recorded at the different collection points to be analysed and compared.

Following the 12 study the results will be considered before any decision on future use of barriers is made.

A garden can add up to 10% to the price of a property in London where outdoor space can be at a premium, according to new research.

London properties with outside space are most likely to go to sealed bids and 65% of London property searches request outside space, says the research from independent agent Greene & Co.

The demand is fuelled by the growing popularity of entertaining at home and an increasing number of families choosing to stay in London, rather than move away from London and face rising travel costs. As a result, these properties are the most likely to be sold through sealed bids, the firm says.

In Crouch End, a one bedroom garden flat marketed for offers in excess of £360,000 saw 58 viewings in just one open house afternoon. The property received eight offers through sealed bids, sold for £50,000 over the guide price and exchanged and completed within six weeks.

A Maida Vale garden flat sold for £35,000 over the asking price to a buyer who had missed out on five other properties through sealed bids.

‘Space is at a premium in London, and we are seeing a growing number of homeowners in the Capital seek to maximise the square footage of their home. Properties with outside space are popular with families, but now we are seeing a rise in the number of downsizers, who enjoy gardening, and young professionals looking for additional room to entertain or that always useful outside storage room,’ said David Pollock, managing director of Greene & Co.

‘Outside space can add 10% to the value of a home. The current housing shortage, combined with a dearth in new properties with usable outside space has created intense competition for these homes and as result the majority go to sealed bids,’ he explained.

‘With the hottest summer on record in the capital, this demand is unlikely to subside and we should expect properties with outside space to continue to lead the curve on house price growth,’ he added.

Carillion and Balfour Beatty have made a shock annoucement that they are engaged in preliminary discussions about a possible merger.

The discussion follows an approach from Carillion to Balfour Beatty. The boards of the two companies said that they believe that the merger of the two groups has the potential to create a market-leading services, investments and construction business of considerable depth and scale.

Balfour Beatty currently stands at number 1 in TCI's latest list of the top 100 construction companies, with a turnover of £10.9bn. Carillion is in second place with a turnover of £4.4bn. Their combined turnover of more than £15bn is almost identical to the rest of the top 10 combined.

Work is now under way to develop a strategy and outline business plan for a combined entity.

The boards of Carillion and Balfour Beatty said that they would only proceed with a merger if both were to conclude due diligence to their satisfaction; and if both were to recommend the merger to their shareholders.

No final decision has been reached regarding the structure of any merger. Under the City code on takeovers and mergers, both Balfour Beatty and Carillion will be treated as offeree companies.

The code gives them until 5pm on 21 August 2014 to either announce a firm intention to undertake a transaction or announce that they do not intend to do so.

Balfour Beatty’s previously annouced sale process for Parsons Brinckerhoff will proceed unaffected by the announcement.

Eight out of 10 landlords in the UK believe that the new immigration legislation which comes into force in October 2014, places too much responsibility on them, a new study shows.

Some 43% of landlords are not confident about making the checks that will be required by the legislation, while 30% said they are optimistic that they will cope with the new checks, according to the research by the Online Letting Agents.

When it comes to selecting new tenants, nearly half of landlords say they will be much more wary taking on tenants that they think might be immigrants.

Despite reassurances that landlords will not be responsible for illegal ‘ghost’ tenants that are living in their property, 11% of landlords are still worried that they will be responsible for any illegal tenants subletting.

‘The new legislation will be a big burden on both letting agents and landlords and there is no way around it. The industry needs to take these changes seriously as landlords and agents will face heavy fines if they fall foul of the law,’ said Eleanor Carroll, director of the Online Letting Agents.

‘Landlords and agents will need all the help they can get to integrate the new checks and validations into their overall tenant application process. Not surprisingly, there are a number of companies now offering immigration checking services,’ she pointed out.

She explained that if agents and landlords make the initial immigration checks part of the referencing process and then carry out ongoing checks on visa status, they will be compliant with the law.

‘The danger is that agents and landlords will refuse potential tenants if they believe them to be immigrants. This could lead to a housing shortage for a growing segment of the population,’ said Carroll.

‘There are a number of referencing agencies, such as Legal 4 Landlords, that are preparing for the new legislation. Landlords and agents will be well supported by the industry, as immigration checks become a standard as part of the referencing procedure,’ she added.

Residential land sales in Australia fell by 4.7% between the March 2013 and March 2014 quarters, according to the latest land report.

However, over the six months to March 2014, residential land sales were still up by 5.9% when compared to the six month period to March 2013, the latest HIA-RP data shows.

In the March 2014 quarter the weighted median price of residential lots increased by 2% to $205,248, marking only the second time the value has exceeded the $200,000 threshold. Capital city lot prices increased by 3.3% in the quarter to be up by 7.5% compared to the March 2013 quarter.

The land report also shows that lot prices in regional Australia eased by 0.7% in the March quarter this year to be up by 2.4% in annual terms.

According to RP Data’s research director, Tim Lawless, the early peak in land sales is likely to dampen expectations that investment in new housing construction will help to support Australia’s economic transition away from resources related infrastructure projects.

‘Policy makers were placing a great deal of importance on renewed levels of housing construction to act as a new pillar for economic expansion. While there has been uplift in approvals and new housing starts, the trend towards fewer land sales since September last year suggests that the housing construction cycle, at least for detached housing, is close to peaking,’ Lawless explained.

‘The ongoing rise in land prices at a time when sales are falling is a worry, particularly in Sydney where the number of sales over the March quarter was about level with the previous year but the median price of land has moved 5.6% higher over the year,’ he added.

HIA chief economist Harley Dale pointed out that there is a close relationship between residential land sales and detached house starts. ‘The indication is that the upcycle in detached housing will peak during 2014. This prospect further highlights the key swing variable role the multi-unit sector will play in determining the eventual magnitude and duration of the current new home construction cycle,’ he noted.

‘On the price side of the land equation, an acceleration in the growth rate for capital cities in the March 2014 quarter is of concern. The upward trajectory for residential land prices since the middle of last year is steeper than it should be. There is clearly a policy failure this cycle, as in many before it, to ensure a supply of shovel ready land commensurate with the demand for new housing,’ he added.

There has been a lot of talk about the London property market slowing but new research suggests that properties in Greater London and the South West are currently receiving the highest number of viewings in the country.

The average number of viewings per property in both Greater London and the South West is 13, a 10% increase year on year. This is seven more viewings than the average for Britain which currently stands at six, according to research by independent estate agents network Move with Us.

Properties in the East Midlands are at the other end of the spectrum, selling after an average of just four viewings. The East Midlands is the best performing region in the country when comparing viewings with offers. Each property in the region has on average four viewings and two offers, making the ratio 2:1. This indicates buyers in the East Midlands are serious contenders, have done their research and choose carefully which properties they want to view before proceeding.

‘In fast paced property markets such as Greater London where the average selling time is just 47 days, viewing numbers tend to be higher because there is a large number of potential buyers fighting for a limited number of properties,’ said Robin King, director at Move with Us.

‘Rapid selling times mean buyers have less time to make well thought out decisions about which properties to visit and tend to view properties they wouldn’t normally consider as soon as they come on the market. This increases the viewings to offer ratio,’ he added.

King explained that the ideal situation is for a seller to have a handful of viewings from qualified, carefully selected buyers whose property wish lists are a close match who then go on to make an offer.

‘Receiving plenty of viewings but no offers is the worst case scenario for a seller as this will not achieve the goal of selling the property, will take up lots of time and can be an emotional rollercoaster,’ said King.

‘Viewings cost time and money for both sellers and estate agents. If a property has lots of interest, holding an open day is a great way to help sell it in the current market. They usually get the viewing process over in one day, meaning the seller only has to clean and tidy the property once,’ he pointed out.

‘The seller can even go out for the day, leaving the property in the capable hands of the estate agent. The heightened sense of competition between the buyers during open days can increase the chances of an offer being made on the property,’ he added.

Capital growth during the first half of the year has been strong for British farm land, especially for the best quality, but it likely to be more muted in the second half of the year.The average growth for prime arable land across Britain was 9.8%, almost four times that recorded for prime central London residential property which was 2.5% for the same period, according to the latest research from Savills.

‘This growth has led to a reforecast for values this year, although we do expect the increase in farmland values to be more muted during the second half of the year. Our forecasts for 2015 to 2018 are unchanged,’ said Ian Bailey head of rural research.

In England, supply during the first half of 2014 increased just 3%, to around 59,500 acres, compared with the same period in 2013. However, there were significant regional variations.

Activity increased considerably in the East of England with growth of 87% and the South West with growth of 43%, although in both regions supply was particularly low last year.

The largest falls in supply were recorded in the North of England with a decline of 45% and the South East, down 17%, while in Scotland, supply has been similar to the same period of 2013, up just 1%, and in Wales supply fell by 24%.

In England average growth for prime arable farmland increased by 10.4% during the first half of 2014 to £9,500 per acre.

The strongest growth was recorded in the West Midlands at 18% and the East of England at 13.5%. Farmland values across Scotland remained unchanged and across Wales prime average arable values increased by 3.6%.

‘Interestingly, growth for the poorest quality land has also outperformed our expectations and may indicate that the upturn in the residential markets is already having a positive effect on the residential farms market which are often smaller livestock farms,’ said Alex Lawson head of farms and estates at Savills.

‘Our analysis of farm transactions indicates that during the first half of the year there was more selling activity by non-farming land owners than farmers. In addition our research indicates reduced selling activity from the corporate and institutional landowners. In fact, the figures suggest that net activity of these land owners appears to have shifted towards buying rather than selling,’ he explained.

He also pointed out that there appears to be an increase in ‘retirement’ related sales, these include those leaving farming and downsizing to a smaller unit. ‘Our analysis shows that these are all farmers, who are close to or have reached retirement age. This suggests they may be using the strength of the market to maximise the opportunities presented by the capital value of their assets,’ he added.

Housing associations have been setting out their plans to spend funding allocations published this week by the Homes & Communities Agency (HCA) and Greater London Authority (GLA).

The initial allocations have been made under the HCA’s 2015-18 Affordable Homes Programme, following a competitive bidding process for £1.7bn of government funding.

Network Housing Group is set to receive nearly £32.5m of affordable homes grant funding, which will used to deliver a total of 317 new affordable homes across Hertfordshire and 873 across London using the funding. Network will also build 600 homes for sale during the programme period.

Raglan Housing has secured £8.6m in grant funding, matching its bid for 450 grant-funded new homes. The additional money, which equates to around £20,000 per home, will be split across Raglan’s operating areas where, over the next three years, the association will deliver 280 affordable new homes in the South and South West; 127 properties in the East and South East, and 43 properties in the Midlands.

Enforcement agencies are being urges to work more closely with Tenancy Deposit Protection (TDP) schemes in the UK in order to crack down on rogue activity from fraudulent landlords and letting agents.

The call comes after the Mydeposits scheme helped prevent over £300,000 worth of tenancy deposits being fraudulently stolen, working closely with enforcement agencies to bring the case to light.

The firm’s chief executive officer Eddie Hooker said that if it wasn’t for their intervention the case in question might not have been brought to justice.

‘It was down to the information, hard work and doggedness that brought these people to justice. We do a lot of work behind the scenes to catch rogue landlords and fraudulent letting agents but often we’re made out to be the bad guys,’ he pointed out.

He explained that over recent years the firm has developed a very comprehensive and effective approach to identifying members who try to bend the rules. ‘We work closely with Police and Trading Standard’s Officers in England and Wales as they seek to understand how the different TDP schemes operate and then obtain sufficient evidence against rogue businesses,’ said Hooker.

‘We caught this case early due to our robust auditing and compliance processes and immediately alerted the police and enforcement agencies. We had to keep pushing the case as initially no one was interested in taking it forward. However, due to our actions no one lost out and all the money was returned,’ he explained.

Mydeposits will continue to work and help those who want to abide by the law and catch those who would otherwise still be free were it not for the support that we have provided to law enforcement agencies,’ he added.

This case comes after Mydeposits forwarded evidence to Milton Keynes Trading Standards last year which helped convict a letting agent who was given an 11 month jail sentence after admitting 25 counts of fraud involving landlords and tenants.
There are over a dozen other cases still underway pending prosecution where Mydeposits are providing support and assistance.

The police have closed the M6 southbound near Sandbach services because of a possibly unsafe bridge.

The Manor Road and Reynolds Lane bridge runs over the motorway. Local reports say that the closure is due to a piece of material falling from the bridge and hitting a car.

The police have closed the southbound carriageway at junctions 17 and 18, with the northbound remaining open at present. The closure was announced in police tweets at about 6am. No estimate has been given for when it will reopen, but the police reported at about 8.30am that a bridge inspector was on the scene.

Costain Limited has been issued with fines and costs totalling more than £615,000 following the death of a worker when a telehandler overturned during the construction of the Parkway development in Newbury.

Mark Williams, 41, from Nuneham Courtenay, was using the vehicle to lift a pallet of tiles to a fourth-storey roof when the incident happened on 20 July 2011. He tried to flee the telehandler as it began to topple, but he was unable to move away in time and it landed on top of him, causing fatal crush injuries.

His death was investigated by the Health & Safety Executive (HSE), which found the safety of the vehicle was compromised by limited space and other obstructions in the area where he was required to work.

Costain Limited, the principal contractor for the Parkway development, was prosecuted for failing to provide a safer system of work.

Reading Court heard during a five week trial earlier this year (from 3rd March 2014) that Mr Williams, a married father-of-two, was part of a team responsible for tiling a number of roofs. He was operating the telehandler with the boom fully raised but not extended. Raising the boom reduced the overall length of the vehicle, however it ultimately caused it to overbalance as it was being turned and manoeuvred.

HSE inspectors established that Mr Williams had no option but to operate the vehicle in this way. The space between the buildings where he worked was almost the same length of the telehandler with the boom lowered, and meant he would have had no turning circle.

The court was told the vehicle was not suited for use in this area, and that had the space constraints been properly assessed and a better system of work put in place then Mr Williams death could have been avoided.

Costain Limited, of Costain House, Vanwall Business Park, Maidenhead, was fined a total of £525,000 and ordered to pay a further £90,577 in costs after being found guilty of breaching Sections 2(1) and 3(1) of the Health and Safety at Work etc Act 1974, and two breaches of Regulation 3 of the Management of Health and Safety at Work Regulations 1999.

After sentencing HSE principal inspector Steve Hull said: “This was a tragic and entirely preventable death. Mark Williams was required to use a telehandler that was wholly unsuited to the confined area he worked in.

“He had no option but to raise the boom so he could turn the vehicle, and in doing so he critically undermined the stability, resulting in the inevitable overturn.

“He should have been provided with alternative, more appropriate equipment and a better system of work. Costain had clear responsibilities to ensure that happened, but they failed to properly assess the risks and ultimately failed Mr Williams.”

Shenda Long, Mark’s mother, added: “I have always felt that I have lived a very privileged and happy life, but all that changed on 20 July 2011 when police officers knocked on our door and informed me that our beloved son had been killed. Mark was a loving son, brother, partner, friend and an amazing dad to his two daughters who brought sunshine, happiness, joy, laughter and love into our family.

“Little did we know that fateful day that it would be the last morning we would feel peaceful, happy and complete. How could we know that the simple act of Mark going to work, as he done every day for years, would result in him being killed, and my family’s world ending. Mark was totally let down by the people he worked for and trusted.”

Mr Williams’ employer, Attley’s Roofing Limited, was earlier cleared of identical health and safety breaches at the end of the initial trial on 3 April. The company, of Spital Farm, Thorpe Mead, Banbury, was acquitted after being jointly prosecuted by HSE alongside Costain.

Costain has previous when it comes to vehicle-related deaths on its sites. In March 2012 the company was fined £250,000 after Richard Caddock, a 38-year-old surveyor, was killed by a reversing lorry on an M25 widening project in Kent. (See previous report here.)

PC Harrington as appointed former Skanska UK managing director Dave Shadwell into the role of business development director.

The move is part of a wider business re-structuring that saw Duncan Salt promoted to group managing director in April (link opens in new tab). The appointment of Salt allows CEO and chairman Pat Harrington to focus on repositioning the company.

PJ Harrington has been appointed as MD of PC Harrington Contractors, supported by contracts directors Brian Wakefield and Tony Collier. Other appointments include Gary Shaw (MD – Slipform International), Dave Holder (MD – HTC Plant), Roger Stables (MD – Structural Systems), John Boyle (group plant and transport director) and Tony McGann into the role of group commercial director, replacing Andy Wood who is now the MD of Harrington Group Middle East.

Existing home sales in the United States increased 2.5% in June and reached an annual pace of five million sales for the first time since October 2013, according to the latest index from the National Association of Realtors.

The median existing home price for all housing types in June was $223,300, which is 4.3% above June 2013. This marks the 28 th consecutive month of year on year price gains, the index shows.

It also says that rising inventory continues to push overall supply towards a more balanced market, but sales remain 2.3% below the 5.16 million unit level a year ago.

‘Inventories are at their highest level in over a year and price gains have slowed to much more welcoming levels in many parts of the country,’ said Lawrence Yun, NAR chief economist.

‘This bodes well for rising home sales in the upcoming months as consumers are provided with more choices. On the contrary, new home construction needs to rise by at least 50% for a complete return to a balanced market because supply shortages, particularly in the West, are still putting upward pressure on prices,’ he explained.

He also noted that stagnant wage growth is holding back what should be a stronger pace of sales. ‘Hiring has been a bright spot in the economy this year, adding an average of 230,000 jobs each month. However, the lack of wage increases is leaving a large pool of potential homebuyers on the side lines who otherwise would be taking advantage of low interest rates. Income growth below price appreciation will hurt affordability,’ he added.

Total housing inventory at the end of June rose 2.2% to 2.3 million existing homes available for sale, which represents a 5.5 month supply at the current sales pace, unchanged from May. Unsold inventory is 6.5% higher than a year ago, when there were 2.16 million existing homes available for sale.

The data shows that distressed homes, that is foreclosures and short sales, accounted for 11% of June sales, down from 15% in June 2013. Some 8% of June sales were foreclosures and 3% were short sales. Foreclosures sold for an average discount of 20% below market value in June, while short sales were discounted 11%.

The percent share of first time buyers continues to underperform historically, rising slightly to 28% in June from 27% in May, but remain at an overall average of 28% over the past year.

Properties sold faster for the sixth consecutive month in June, highlighting the fact that inventory is still lagging relative to demand. The median time on market for all homes was 44 days in June, down from 47 days in May. It was 37 days on market in June 2013. Short sales were on the market for a median of 120 days in June, while foreclosures sold in 54 days and non-distressed homes typically took 42 days. Some 42% of homes sold in June were on…

The UK government’s affordable homes programme will change the way properties are built in the country with many being constructed using advanced housing techniques, it has been announced.

Successful bids for almost 62,000 homes under the first phase of the £23 billion programme have been confirmed and overall it will deliver 165,000 new affordable homes over three years from 2015.

A fifth of the homes will be built with cutting edge advanced housing manufacturing where parts are made in factories before being assembled on site. This technique is widely used on the continent, but currently only plays a limited role in British house building.

Housing Minister Brandon Lewis said the focus on new technology would provide high quality homes, and help the sector achieve the fastest rate of affordable house building for 20 years.

He explained that a total of 191 providers have been earmarked for funding and the new homes will be delivered across England, with almost a third in London. ‘House building is an essential part of this government’s long term economic plan. That’s why we have designed an ambitious new scheme to build affordable homes at the fastest rate for 20 years, which will support 165,000 jobs in construction and sustain thousands of small businesses,’ he said.

The investment from government will be combined with private finance to deliver the £23 billion programme. Lewis added that by putting in more private sector funding than previous programmes, the scheme will achieve a better deal for taxpayers.

Chief Secretary to the Treasury Danny Alexander said that building more affordable homes is an important part of ensuring every family has the opportunity to live in a decent home.

‘By investing billions into new housing and cutting out burdensome planning regulations, we are building more affordable homes per year than at any time in 20 years and are also supporting job creation across the country,’ he added.

According to Homes and Communities Agency chief executive Andy Rose described it as ‘a solid delivery programme that will ensure a smooth transition from our current affordable homes programme, and that delivery can start promptly’.

‘The allocations are closely aligned with locally identified priorities and offer value for money and increased certainty of delivery, with over 75% of the homes we are funding on firm schemes,’ he added.

Housing associations, councils and developers that have applied for funding have been required to demonstrate they are delivering new homes that are in short supply in their local area. Of the successful bids so far, 77% have been for one and two bedroom homes, so that smaller households can move to more suitably-sized accommodation.

The affordable homes programme includes affordable rented homes and affordable home ownership schemes and is being managed by the Homes and Communities Agency nationally and in London managed and allocated by Greater London Authority and the Mayor.

The majority of European office rental markets either saw a boost or remained static in the first half of 2014, led by Germany and Holland.

Overall Europe’s leasing market reported positive growth across 17 major office markets as the Eurozone economy continued its recovery drive with improved sentiment across the region, according to Colliers International’s latest EMAE office report.

Prime rents in 85% of office markets across Europe and the Middle East reported a boost in the last six months or remained static, the report confirms.

Most notably, the office market in Germany saw the strongest growth, with prime CBD rents in Stuttgart leaping 25%. Munich also reported rental increase for the seventh consecutive half since the second half of 2010.

Amsterdam also reported an upward trajectory of rents over the last 18 months, underscoring the recovery of its prime office district amid an increasing gap between primary and secondary markets in the Netherlands.

The investment market was also a positive story for Amsterdam, which saw prime yields moving in by 40 bps compared to end 2013, along with a sharp increase in investment volumes.

‘The progressive results in rents are a result of a combination of economic improvements and greater confidence in the European occupier markets, especially the UK and Germany. This is combined with a generalised lack of modern space available in central business districts due to low volumes of new speculative completions,’ said Bruno Beretta, senior research analyst for EMEA at Colliers International.

Even Southern European markets like Madrid and Lisbon, with the former experiencing a particularly severe correction since 2009, have seen prime rents move ahead. Lisbon reported an annual rental increase of 1.4% in the first six months of 2014.

Despite these increases, a more sustainable recovery of occupational markets in Southern Europe is not expected until the end of this year, or more probably 2015.

‘Increasing demand by media and tech occupiers across EMEA, together with the shortage of new supply have created a climate for sharp rental growth in many European markets, both at headline levels and for average second hand accommodation,’ said Craig Satchwell, head of EMEA offices at Colliers International.

‘Media and Tech companies are the second most active when it comes to take up, with a 21% share of take up across London, Paris, Amsterdam and the big six German cities combined,’ he added.

The Colliers report shows that the European Central Bank’s recent moves, the weight of capital now targeting European real estate and rental growth expectations contributed, in most instances, to stable or falling office yields in the first half of 2014.

As a result, these factors have led to an upgraded perception of the European investment market. Given current high levels of interest in many major European markets, yield compression was observed in many peripheral markets like Dublin with a fall of 75 bps, Madrid down 50 bps, Barcelona down 25 bps) and Athens down 25 bps.

Prime yields hardened in a number of cities…