Build to Rent Roundup
UK house prices rise at fastest rate in 18 years. Housing minister reshuffle could delay rent reforms. Aviva and Packaged Living to develop 195 homes in Shropshire. Moda Living plan 392 homes in York. Intermediate Capital in talks to buy Wembley Arena.
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?? UK House Prices rise at fastest rate in 18 years
Halifax says the market “defied any expectations of a slowdown” over the last year, with prices rising by 13%. Average prices for detached houses rose by 13.9% which was almost twice the rate of flats (up 7.6%). However, the latest figures from Rightmove reveal that the number of homes coming to market jumped 24% last week, the highest rate since January and a sign that the shortage of available stock may be easing. Analysis on the London market by Bloomberg News paints a picture of changing trends in the capital, with apartment prices?down?11% from their peak in 2020, while both houses and new homes have continued to rise in value.
?? Housing Minister musical chairs could delay rental sector improvements
Housing campaigners and leaseholders caught up in the cladding crisis have warned Michael Gove’s sacking could hamper progress made on some of housing’s biggest issues.
???Aviva and Packaged Living to acquire and develop 195 homes in Shropshire
Asset Management firm Aviva and Build to Rent developer Packaged Living are to acquire and develop 195 homes in Shropshire in the first investment from the ￡700m partnership which was announced last year.
?? Dublin Councillors vote to apply minimum size standards to more BTR properties
Councillors in Dublin have voted to increase from 40% to 60% the proportion of Build to Rent homes on schemes of over 100 units which must comply with minimum size standards.
Read More:?https://www.98fm.com/news/cllrs-double-down-on-restrictions-on-build-to-rents-in-dublin-1361240
?? German property investor Real IS buys 93 Build to Rent apartments in Dublin
Real IS purchased the development as part of its €800 million Modern Living alternative investment fund launched last year. Explaining the motivation for the investment Real IS said that Ireland, and in particular Dublin, had proved to be “extremely crisis-resilient in the past two years.”
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???PIC tops out at ￡130m BTR project in Manchester
Pension Insurance Corporation has topped out construction at its New Victoria Build to Rent development in Manchester. The ￡130m project which was announced in September 2020 is PICs first BTR project.
Read More:?https://www.professionalpensions.com/news/4052623/pic-tops-gbp130m-btr-project-manchester
?? Moda Living submit plans for 392 homes to City of York Council
The Build to Rent scheme on part of the former Heworth gasworks is the final phase of the development of the site. It includes a mix of studio, one, two, and three-bed homes, a gym and cinema room. Chief executive Johnny Caddick said: “As a Yorkshire-based family business, we are very excited to bring this new generation of rental living to York.”
Read More:?https://www.yorkpress.co.uk/news/20264514.plans-apartments-former-heworth-gas-works-site-york/
?? Q&A with Castleforge Partners on the latest trends in Build to Rent
Adam McLeod, Partner at Castleforge Partners, gave his insights on current conditions in the property market and how his firm is meeting the need for Build to Rent outside of major cities. He comments: “Residential investment outside of these cities is scattered and we see a huge opportunity for growth in the multifamily segment in secondary and tertiary cities and market towns.”
?? Intermediate Capital is in talks to buy Wembley Arena from Quintain
The FTSE 100 fund manager could be paying up to ￡50m for the Arena which Quintain (owned by Lone Star) is divesting in order to focus on its Build to Rent business.
?? 600 Homes planned near Ashby in North West Leicestershire
The homes, planned by a consortium comprised of Bloor Homes, Taylor Wimpey and Cogent Land, will include a mixture of detached, semis and terrace houses, maisonettes, bungalows and duplexes to buy and to rent. A total of 182 of the homes will be ‘affordable,’ 70 per cent of which will be rented properties.
Read More:?https://www.staffordshire-live.co.uk/news/local-news/plan-build-hundreds-homes-countryside-7289327
?? How the property cycle is going to unwind
Alistair Stewart, Construction and Property Analyst at Progressive Equity Research produced this summary list presenting 10 ways the unwinding of this property cycle is likely to be different from the last.
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