Category: Property Development
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Converting Commercial Property to Residential
Converting commercial property to residential spaces has become a popular trend in recent years. This not only helps make use of empty buildings but also revitalizes urban areas, transforming towns and cities. In addition to the positive impact on the community, these conversions can also be financially rewarding for developers. By turning a commercial property…
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It’s Getting Cheaper to Build vs Buy a House
Buying a property in the UK has become significantly more expensive compared to the cost of building one, according to research conducted by Searchland. The study compared the basic costs of construction, including labor and materials, to the prices of new builds. The findings revealed a substantial difference, with the average cost of constructing a…
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Make Your Development Easier to Sell
When it comes to small-scale property development, such as converting a commercial building into residential flats, there are several factors to consider in order to make your project more sellable and profitable. It’s important to think ahead and take into account the needs and preferences of potential buyers. An article in PropertyReporter discusses five top…
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Economic Pressures Mean Fewer Affordable Developments
A recent report by Octopus reveals that economic pressures are leading to a significant drop in the development of new affordable housing in the UK. Factors such as inflation, construction costs, higher interest rates, decarbonisation work, regulatory and policy-related pressures, and the cost of debt are contributing to this decline. Housing associations are struggling to…
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Government Suggests Planning Reforms to Boost Housebuilding
The UK government has unveiled a plan to address housing shortages and accelerate housebuilding while safeguarding the environment. The government claims that by removing certain obsolete EU laws related to nutrient neutrality, more than 100,000 homes that were delayed due to these regulations will be constructed by 2030, providing a significant economic boost. The proposed…
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UK Developers Facing Rising Costs
UK property developers are facing challenges due to rising costs of labor and materials, leading many to rethink their strategies, according to a study by Shawbrook. Over the past year, developers have made changes in building materials (40%) and have built or plan to build different types of properties (39%). Residential housing developers are particularly…
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The Growth of Branded Residences
The branded residences sector is thriving, with a predicted growth rate of 55% between now and 2026, according to a report by Knight Frank. Branded property refers to a partnership between a brand and a developer that results in residences being sold to buyers. Examples include schemes by hotel groups such as The Four Seasons,…
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UK Brownfield Land Potential for Housing Development
Searchland has researched the availability of “brownfield” land across the UK. In simple terms, there’s a lot of unused land in cities like London, Birmingham, and Manchester that could be turned into new homes. The government likes the idea, but not everyone’s convinced that it’s the complete solution to the UK’s housing needs.
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Starting Your Own Development Company – Advice from Experience
Felix Cash is an experienced property developer who has built several companies. In Bytestart today he offers advice for people wanting to start their own business. Introduction 2023 has seen a spike in UK rent rates. This means that being in the property business can be profitable. Yet, setting up a successful property portfolio and…
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“It’s Tough Out There” – Challenges for Developers
The Guardian reports on the challenges facing developers and housebuilders, caused by the tougher economy and slowing housing market. The sector is struggling with a mix of issues such as declining demand, increasing interest rates, labour shortages, and high costs of materials and wages. The demand for new homes has been affected by the current…