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Yet again transport investment and real estate value forms a key discussion topic at this year’s MIPIM with representation from all of the major transport investment projects. The projects aren’t new, so what has changed since last year?
I have been reflecting on whether the Government’s latest housing proposals will achieve Sajid Javid’s ambitions for “radical, lasting reform” and create a “new, positive, mindset to house building”.
A new EIA Directive 2014/52/EU will be transposed into UK legislation by May 2017. Included within the Directive will be the requirement that ‘proportionate’ and high quality EIAs are undertaken across the EU. We consider how this change may affect EIA professionals in England in the context of what is a “competent expert”1.
The Housing White Paper ‘Fixing our broken housing market’, published on 7 February 2017, identifies that compulsory purchase law gives local authorities extensive powers to assemble land for development and that recent and proposed legislation (the Housing & Planning Act 2016 and Neighbourly Planning Bill) is reforming CPO process to make it clearer, fairer and faster. As a result, planning authorities are encouraged to use these powers, particularly in areas of high housing need.
The White Paper provides the clearest support yet for Build-to-Rent (BTR) development. A consultation paper on Planning and Affordable Housing for Build to Rent has been published alongside the White Paper.
Breaking up is hard to do: maintaining business integration when your organisation is geographically dispersed
20th century organisations often succeeded by operating from a single location. Take the newspaper industry as an example. For journalists, Fleet Street in London was the centre of the universe. They would mingle and eavesdrop, returning to their offices with fresh gossip. Not only were their headquarters based on the street, but their printing facilities were located within a stone’s throw of their type writer. The Daily Express and the Daily Telegraph, and other household newspapers, operated almost entirely from a single street.
Every quarter, my colleagues in Deloitte’s economics team survey more than 100 CFOs, many from FTSE 100 and 250 companies, asking a consistent set of questions to gauge business optimism. The results offer a fascinating economic perspective, especially when viewed over time, and of course they provide very relevant context to any discussion over the outlook for real estate. View the Deloitte CFO Survey.
Affordable Homes Funding Guide
Released at the same time as the draft Affordable Housing and Viability Supplementary Planning Guidance for 2016 but with less fanfare, was the Affordable Homes Programme 2016-2021 Funding Guidance.
High hopes for London housing as Hammond takes aim
Housing is now the government’s number one priority. Not only has the Chancellor allocated £7.2bn towards the construction of new homes (more funds than for any other key national infrastructure), there’s a clear focus on getting those homes where they’re needed most, which should include London and the South East.
At first glance, real estate is hardly a tech-fuelled industry: building design evolves at a glacial pace, construction relies on traditional methods, and the transaction process has barely changed for centuries. However, take another look: in a few short years, a mix of individuals, start-ups and established businesses have harnessed new technologies to address inefficiencies and generate new ideas.