Inflation holds at 2.2%. New Towns Taskforce begins. UK HPI increases.

Inflation has held steady at 2.2% in the year to August

This is above the rate of inflation that the Bank of England's target of 2%.

However, this does not mean that prices are holding steady across the board.

Fuel prices have decreased but the increases in the cost of flights and rents have counteracted that.

Many economists would have hoped for a decrease in inflation figures which would lead to decreased base rates of inflation.

New Towns Taskforce to deliver major housebuilding push

The government's New Towns Taskforce has assembled eight new housing experts from planning, infrastructure, architecture and urban regeneration backgrounds.

The group has met in the post-war new town Milton Keynes and will outline potential locations for these new towns next year.

This initiative aims to deliver settlements of at least 10,000 homes each to contribute to the 1.5 million homes over the next 5 years.

Angela Rayner said: "Today marks a momentous step in our journey to deliver the next generation of new towns and transform the lives of millions of working people in every part of the country."

Chair of the New Towns Taskforce Sir Michael Lyons said: "I am very pleased to chair the first meeting of the Taskforce today. We have an important agenda to work through over the next 12 months to ensure that the next generation of new towns deliver the government’s plans for economic growth and housing ambitions."

How Housebuilder Pro helps with snagging

Improved efficiency: Housebuilder Pro cuts down on the time it takes to log, assign, and resolve snags, ensuring a smoother process from start to finish.

Better communication: Real-time updates and notifications keep everyone informed, from subcontractors to homebuyers.

Higher customer satisfaction: By providing a transparent snagging process with regular updates, buyers feel more confident in the quality of their new home.

Cost savings: By identifying and resolving defects quickly, builders can avoid costly repairs down the line and minimise the risk of post-handover disputes.

Enhanced quality control: With data-driven insights, builders can improve their construction processes to prevent recurring issues and deliver higher-quality homes.

Find out more here

Government release house price index

According to HM Land Registry, house prices have risen 0.6% since June 2024.

With an annual price rise of 2.2%, this leaves the average UK property valued at ￡289,000.

However, as you'd expect these figures are skewed by the South East where values sit a ￡381,000 and in London ￡521,000.

Repossessions are at their highest in the North East.

Finding our newsletter useful? Feel free to share it with your colleagues.

If you'd like to see your housebuilding news featured contact us by emailing [email protected]

If you want to find out more about Housebuilder Pro, contact us here.

Or get in touch with Nick Taylor, our Sales Director.