Recently in Residential Category

North East to see slowest resi price growth

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Savills has published its housing forecasts for the next five years.

London unsurprisingly leads the pack, closely followed by the South East. But strip out those hotspots and there's a definite divide in the country. In the north (huge generalisation here) growth is around a half that further south.

Click on the interactive map below to see the forecasts in detail.


Inside a £12.5m London penthouse

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Lansbury_Penthouse_Reception.jpgThis is what a £12.5m penthouse, right by Harrods in the heart of Knightsbridge looks like. It's nice innit?

It's Finchatton's The Lansbury. And you can't have it. It was snapped up within 24hours of going on the market by an international buyer.

Highlights are the stingray skin desk, two terraces and each flat comes with an iPad you can use to control the flat - and that includes turning the fire on remotely.

We'll have a slideshow of pictures up shortly.

£1bn NW Cambridge unlikely to generate cash for agents

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This week EG's East of England Focus lifts the lid on the £1bn North West Cambridge development, writes Mark Simmons.

While some local agents are already aware that the proposed 400,000 sq ft of commercial space will not be available for commercial users, as occupation will be limited to university partners only, they are hoping that there will be opportunities for third parties to manage the planned key worker (1,500 homes) and student (2,000 units) accommodation. Sorry folks - landowner Cambridge university is keeping a firm grip on its properties and expects to manage them itself.

However, there is one thing that the 800-year old institution is letting go of - the 4% of the site that is earmarked for revenue-generating private housing. Even here though, the university isn't handing over more than it has to. Only house plots and primary road links will be released, with the university retaining ultimate ownership of other roads, open spaces and communal areas.

This is sensible as it allows the university to maintain the environment to its desired standard. But it also means residents will face an additional service charge to cover the costs. In the current housing-starved Cambridge area that's unlikely to be an issue. More of a concern though, say local commercial agents, is the additional traffic that the North West development will generate. City councilors raised the issue when the outline planning application was discussed and ultimately approved last summer, and were reassured by planners that increased traffic volumes could be managed. We'll find out whether they were right soon enough: residents should move in from autumn 2015.

Read about plans for North West Cambridge in this Saturday's magazine, on the enhanced iPad edition or tomorrow in our digital edition.

Pics: behind the hoardings at Parkside Place, Cambridge

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Want to take a look behind the hoarding at Grosvenor's Parkside Place in Cambridge? The landmark building is making its presence known on the Cambridge skyline, and come May the first people will start moving in. The idea, says Grosvenor, was to move the Cambridge residential up a notch and create something of a mini-Bankside.

The development was still very much a building site yesterday but we had a glimpse inside the penthouse (sold to a Cambridge man despite rumours that the whole thing had been sold in Hong Kong before a brick was laid) and more importantly what sort of view £1.2m buys you. It's nice.


Hill Residential Cambridge development site from the air

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Great view of the Hill Residential development site. It's taken from the top of the student accommodation on Brookgate's CB1 site in Cambridge, and looks like its going up at the rate of knots.

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Second phase of homes at Locking Parklands launched

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St Modwen has just got planning for a second phase of homes at its Locking Parklands site in Weston Super Mare. Come the autumn work is expected to start on 150 more homes at the massive site which will eventually have 1,250 homes on it, along with 650,000 sq ft of what it is loosely calling employment space. They've also released a couple of new images of what the development will look like.



At the recent launch of the London Hilton Wembley I caught up with James Saunders, chief operating officer of Quintain to talk about the 20 year regeneration project around the stadium and arena.

Quintain has entered the residential rental market with its first phase of residential development and Saunders explains why the developer has become a resi landlord and its strategy for the next phases of the project.

Click on the slideshow above to see pictures of the Wembley regeneration as it looks now.

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First pics of Cardiff Bay resi redevelopment

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This is what the new residential down at Cardiff Bay will look like. Anyone brave enough to take a flat cantilevered out over the water's edge? Affordable housing will be discreetly tucked away on two adjacent sites. 

Plans have been submitted to Cardiff Council by Greenbank Partnerships for the £200m Cardiff Pointe development. Out of 634 of the Scott Brownrigg-designed units 235 will be two, three, four and five bed houses. But the balance will be flats in those two residential towers, something most developers outside of London have trodden very carefully with. 

And that's with good reason, you don't need to delve too far back into the Bay's history to find stories of hundreds of empty flats. It's a different market now, different, but not necessarily better. The market will be eagerly watching how these fare. 

Guest post: York's missing housing

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Under local pressure, politicians are looking to squeeze the picturesque city of York's future housing provision. Turley Associates argues that the original figure of 800 homes was already woefully small.

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Eamonn Keogh is a Director in the Leeds office of planning consultancy Turley Associates and Chairman of the York Property Forum.

The City of York Council is about to submit its Core Strategy to the Secretary of State.  An examination will be held in April/May this year. A key issue will be the level of housing provision for the city for coming years.  

Intertwined with the housing issue is that of the Green Belt.  As an indication of how contentious the issue is likely to be, prior to losing power last year, the previous Conservative/Lib Dem administration had proposed a housing provision of 575 dwellings per annum to limit incursion into the Green Belt.  Officers had strongly recommended the figure should be 800 based on independent research.  The regional strategy figure was 850 dwellings per annum.

One of the first actions of the Labour administration when elected last year was to revise the housing provision figure back up to 800 on the basis, rightly, that the figure of 575 would be indefensible at the Core Strategy examination.  However recent work we have carried out with Cambridge Econometrics using the Chelmer housing forecasting model indicates that the figure of 800 is itself wholly inadequate and will not even cater for the city's naturally generated housing needs.

The Chelmer model allows us to quickly consider "what if" scenarios for future housing requirements.  Assuming no migration, the natural population growth in the district over the next 15 years will give rise to a requirement for around 930 dwellings per annum - significantly above what the Council has planned for.  

Whilst we can debate assumptions about migration, two points are indisputable.  First, the proposed housing requirement in the Core Strategy will not cater for the City's natural growth.  Second, York has been one of the fastest growing cities in the UK in the past 15 years and, economic recession aside, is likely to continue to experience in-migration for the foreseeable future, giving rise to a housing requirement even higher than 930.  The Government's population projections suggest the figure could be in the region of 1,300 houses per annum.  Either way the proposed housing figures in the Core Strategy are inadequate to meet future housing needs.

The Labour administration has already taken the courageous step of increasing housing numbers.  Yet with the housing waiting list currently standing at 2,700 households and growth predictions continuing to place pressure on the housing market, York still has some very difficult decisions to make. 

ekeogh@turleyassociates.co.uk
The title of Savills residential report today says it all "Mapping the great divide".

Savills has stuck its marker in the sand today and forecast where it thinks regional house prices will be by 2015. Sadly, all the minus numbers are in the north and the pluses are all in the south.

But growth, even in the south east, is some way below what it was at the peak. In Cambridgeshire transaction levels are 77% what they were at the peak. Barnsley meanwhile is the worst performer.  It says that availability of finance and how much affordability of mortgages is dented by interest rate rises will continue to limit any house price growth.

UPDATE: Savills have just told us about an error on the graphic below. For Burnley there should be no '+' next to the figure of transaction levels compared to the pre-crunch peak  (ie: transactions in Burnley are actually down 72%). 

Click on the image below to view a larger version of the map.
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