Leicestershire BUILDER Magazine • APRIL 2018 •
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RICS UK Residential Market Survey, February 2018
Further fall in East Midlands’ housing stock as demand falls for fifth month •
New buyer enquiries fall for the fifth consecutive month Average stocks on estate agents’ books hits fresh record low East Midlands house prices remain robust as little change takes place at national level.
THE INDICATORS for Building future activity in the East Midlands housing market remain subdued, according to the February 2018 RICS UK Residential Market Survey.
to Buy scheme with developer Prices in the East Midlands incentives and the ‘quality’ of new continue to remain robust with homes scoring lower. 34% more respondents reporting Simon Rubinsohn, RICS Chief prices rises. The three-month price Economist commented: “The expectations paint a slightly more consultation announced earlier this subdued picture with 15% more week on housing delivery put the respondents expecting prices to onus squarely on developers and rise. In comparison, price readings planning departments to up their were also strong in Wales, the game to list the supply pipeline North West and Northern Ireland. but the feedback to the latest By way of contrast, feedback on Residential Maret| Survey prices remains negative a greater plot to the rear of to488 GrobyRICS Road | Leicester LE3 9QD cases some doubt as to whether or lesser degree in London, East this will be sufficient to address Anglia, the South East and the the challenge. Significantly, the North. longer term house price indicator The longer five-year indicator has begun to creep upwards once for prices and rents in the region again in recent months despite the continues to suggest that prices will current somewhat mixed climate increase at a slightly slower pace and the private rent series also than rents, although, both point to remains firm, in both cases pointing growth at the end of the five-year to increases over the next five years. period. “Meanwhile, the divergent In an additional question included regional picture is becoming in the survey, respondents were increasingly pronounced with asked about the key factors driving key RICS indicators across huge demand for new build properties. swathes of the country still showing At the national level, the main considerable resilience but data for driver was the lack of stock in London, the South East and East the second-hand market. This is Anglia rather more subdued.” followed by the appeal of the Help
Continuing a prevalent trend; new buyer enquiries, new instructions and newly-agreed sales continued to drift lower in February. New buyer enquiries fell for an fifth successive month with respondents seeing a fall rather than rise in enquiries. Meanwhile, the number of agreed sales also remains slightly negative (net balance -18%), and continues a trend seen over the fifteen months. New buyer enquiries fell once again this month, but there continues to be significant regional variations. Demand from would be buyers continued to increase in BERRYS Estate Agents Scotland, Northern Ireland, and are offering for sale a the South West in February yet single building plot with enquiries from new buyers declined planning consent (ref: not only in the East Midlands, but London and the South East. 20171685) for a single dwelling. Alongside ongoing concerns about affordability in some areas of the The plot – at the rear of 488 region, part of the problem may lie Groby Road, Leicester LE3 in the lack of choice of properties to 9QD – measures 17m wide by purchase with the new instructions 40m deep, and was formerly a indicator falling once again. This rear garden. has pushed the average stocks (per The Guide Price is £140,000. branch) on the books of agents Single building plot with For more information, or to arrange a viewing appointment, contact who respond to the survey to planning a new consent Pierre Farnsworth at Berrys on 01536 532376 or email: pierre.farnsworth@ record low of 49. berrys.uk.com • Single building plot 42 Headlands, Kettering • Outline planning consent for a single dwelling Northamptonshire, NN15 7HR Tel: 01536 532376 • Easy access to motorway network
Building plot in Leicester GROB Y RO
Kier Construction Central (c/o Agent: David Hughes, Marriott House, Abbeyfield Road, Nottingham NG7 2SZ) – Demolition of existing eastern teaching blocks and erection of 2 replacement buildings comprising a three-storey teaching block and a single storey sports block; refurbishment of existing sports hall including replacement external wall/roof cladding & glazing – at Nicholas Chamberlaine Comprehensive School, Bulkington Road, Bedworth, Warks. CV12 9EA. Mrs B Soorishetty (c/o Agent: G Kitaure, The Old School House, School Road, Moseley B13 9SW) – Conversion of existing building and erection of three-storey building to create 12 flats including pitched roof, additionas and elevational changes to existing building and car parking area to rear – at Site 106a014, King Street, Bedworth, Warks. UK Land Development Ltd (c/o Agent: John Pearce, Harris Lamb, Grosvenor House, 75-76 Francis Road, Edgbaston, Birmingham B16 8SP) – Residential development of up to 85 dwellings with public open space – at Site 125d001, Land off Burbages Lane and Wheelwright Lane, Ash Green, Coventry.
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Unnamed Applicant (c/o Agent: The Planning Bureau Ltd, Unit 3, Edward Court, Altrincham Business Park, Broadheath, Altrincham WA14 5GL) – Erection of extra care retirement village comprising 62 apartments, 14 bungalows, communal facilities, etc. – at Oakfield Recreation Ground, Bilton Road, Rugby, Warks. CV22 7AL.
I dance better putting my pants on than I do actually trying to dance.