CAPEXIA NEWS & LIFESTYLE

"What's going on in the development market."

Whilst the global economy is still taking a battering, it is not all gloom and doom. Property remains a popular long-term investment and landowners and investors continue to explore the market for new opportunities. With local elections looming on 4 May 2023, it will be a defining moment for councils to see if there is a shift in the political balance. The LGA reported 2021/2022 figures as: Conservative - 39.85%, Labour - 35.08%, Lib Dem -12.46%,  Independent* - 11.89%. Will the shift in your area change your property strategy?

* includes all independent parties.

"Golden Thread."

Implementation of the "Golden Thread" will require individuals and organizations responsible for a building to have good information management systems and a clear understanding of how information management supports building safety. Going forward the information management for safety will need to be embedded across all aspects of the construction and property development sector. To find out more see the UK Government website link below.

"New Building Safety Bill."

On 30 June 2021, The Building Safety Bill entered Parliament and is in transition to become law over the coming months., together with housing, construction product, and fire safety legislation the UK Government hopes it will deliver a stronger regulatory system, to ensure that the nation’s homes and buildings are safe.

With additional changes to fire safety legislation following the Fire Safety Act 2021 and amendments to the 1984 Building Act. Other legislation is also being aligned with the forthcoming Act when it receives Royal Ascent in 9-18 months' time. (No formal timetable set).  Where the Construction (Design and Management) Regulations 2015 (CDM) apply to the building work, duty holders may be certified as also appointed under the building regulations and will have relevant duties. The Government also expects to make changes to the building regulations for buildings that are not in scope, for example, to introduce the new duty holder and competence structure; improve the regulations which govern building control procedures; and reform the regulations under which local authorities can charge for their building control functions.

The new regime applies to buildings that are at least 18 metres in height or have at least 7 storeys and have at least two residential units. It also applies to care homes and hospitals meeting the same height threshold during design and construction, but not during occupation.

For more details contact Capexia or review the UK Government website.

Outline Transition Plan for the Building Safety Bill - GOV.UK (www.gov.uk)

"5th June is World Environment Day."

Did you know that it is World Environment Day on 5 June? To find out more about how you can love the planet and become part of #generationrestoration. Events start 27 May 2021 visit:-

https://www.worldenvironmentday.global/

"Approval of build-to-rent homes at an all time high."

Q1-2021 recorded the highest number of new build-to-rent homes being granted planning permission in the UK.  A total of 6,937 homes were delivered, a mix of new houses in the suburbs and flatted accommodations in town and city centres.  This is an increase of 616 units above the previous highest quarter recorded for build-to-rent units which totalled 6,321 units in Q3 2016.

There are now 188,456 build-to-rent homes either complete, under construction, or in for planning across the UK. This represents a 21 percent increase from 12 months ago. This is a trend that is expected to continue in the suburbs years with current figures recording 3,449 homes under current construction with a further 5,296 units submitted for planning.

Regions outside London have 105,722 build-to-rent homes either complete (29,673), under construction (19,827), or in planning (56,222). London has 82,734 build-to-rent homes either completed (28,365), complete (16,227), or in planning (38,142).

For more details please refer to the BPF website:-

https:www//bpf.org.uk

"Use Classes orders revised. So what is the new Use Class E?"

To give them their full title... The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020 generally referred to as "Use Classes Order" came into force on 1st September 2020 and introduced a new use class category identified as Class E. This new use class has several impacts on previously defined use classes as they are now merged into a new wider category.