Historic pub bulldozed by developers must be rebuilt brick by brick

Council orders developers to rebuild the Carlton Tavern in west London after it was leveled just days before it was due to become a listed building The Carlton Tavern was the only building in its street not destroyed during the blitz and was considered an important historical building. But without warning developers brought in bulldozers earlier this month and had it razed to the ground. For more on this story follow this link: http://www.telegraph.co.uk/news/earth/environment/11571257/Historic-pub-bulldozed-by-developers-must-be-rebuilt-brick-by-brick.html

UK economic growth slows to 0.3%

The rate of economic growth halved in the three months to the end of March, according to official figures from the ONS. The UK economy grew by 0.3% in the quarter, which compared to 0.6% in the last three months of 2014. The ONS said the economy was 2.4% larger than the same period a year earlier. Growth of 0.5% in the services industry was offset by a 1.6% fall in the pace of economic output in construction. Vicky Redwood, chief UK economist at Capital Economics, said the slowdown in the economy "should just be temporary" and that quarterly economic growth should return to between 0.7% and 0.8% later in the year.

Homebuilding targets ‘unachievable’

A survey by Knight Frank reveals that 67% of housebuilders think that the maximum sustainable annual delivery of new homes is 180,000 or less, below the figures that all the main parties have promised. More than half of all respondents added that a rise in the delivery of affordable homes over the next year was unlikely.Justin Gaze, joint head of residential development at Knight Frank, said: “The inability to create the necessary number of new homes is being driven primarily by a skills shortage in the development sector, limited development funding and the lengthy mortgage approval process, which is delaying purchasers.” Another issue weighing on housebuilders, is that of the new community infrastructure levy, implemented by the government this month. More than half of the builders surveyed said that they were concerned by the new levy. The reservations of housebuilders come at the same time as Ed Miliband pledged to start construction on 1m new homes by 2020. The Financial Times asks economists and academics for their views on the political parties’ plans for dealing with the housing crisis. The experts regard many of the proposals as counterproductive, arguing that they show a lack of understanding of the industry. They also wonder where the funding is going to come from to fulfil all the plans.

Across China by wheelchair

A globetrotting wheelchair user on the frustrations - and surprises - of travelling across China in a wheelchair. James Ballardie is a wheelchair user who has been travelling the world without planning an accessible path through it. And it was all going pretty well until he reached China. For more information on this story follow this link: http://www.bbc.co.uk/news/blogs-ouch-31923342

Impact on value warning

Lauren Thompson in the Times looks at things that can devalue a property following reports of a house in Kensington which has been painted in red and white stripes, a move Ed Mead of Douglas & Gordon says could knock up to 10% of its value. Things to be aware of include: derelict homes nearby, Japanese knotweed in the garden, subsidence, flight paths overhead, flood potential and nightmare neighbours.

Savills buys Smiths Gore

Savills has announced a £40m deal to buy Smiths Gore, the rural specialists, which operates as a partnership with 532 staff across 45 offices. All of the offices will transfer into Savills rural energy and projects division or its country residential agency business. Savills said the acquisition complements its existing rural business.

Small but well proportioned

A two-bedroom home in Barnsbury, North London that measures just 8ft wide has been put up for sale for £750,000 via Foxtons, which describes it as “well proportioned”.

Deflation looms

Energy price cuts and a supermarket war have pushed Britain to the brink of deflation. Economists have already said that it was a close call as to whether inflation remained at zero in March or dipped to -0.1%. Alan Clarke, an economist at Scotiabank, said subdued price increases by high street stores had weighed down on price growth, while a 5% price cut by British Gas in March would also help tip Britain into deflation. The Bank of England has said that it is likely that Britain will enter a period of mild deflation in the first half of this year, driven by a collapse in the oil price. The Office for Budget Responsibility, the Government's independent forecaster, predicted last month that inflation will not rise to 2% until 2019.

Ruling could lead to property sales

In a case that could have implications for thousands of homeowners in Britain, a woman may be forced to sell her childhood home to fund her elderly mother's care. Glen Walford has been told by judges that the house was not her home at the time when her mother went into care because she rents a flat in London. As a result, the council has won the right to force Miss Walford to use the equity in the house, where she intended to retire, for care home fees for her mother.

Appetite for mortgages lacking

The Bank of England has reported that Britons have pursued significantly fewer mortgages in the first quarter of 2015 than they did last year. The Credit Conditions survey showed that, by a balance of -40.8%, lenders experienced a fall in demand for home loans between January and March. However, respondents forecasted a rise in demand over the next three months, despite unexpected declines in the past three quarters. The research also found that while mortgages had become less available to borrowers with deposits over 25%, those worth more than 90% of a property value had become more available for the first time in nine months – as banks became increasingly willing to sign over risky loans. “Weak supply of, and demand for, mortgage credit is acting as a brake on housing activity. Mortgage supply remains under pressure and, in the last three quarters, consumer demand for mortgages has fallen at the fastest rate since the crash in 2008,” remarked Ian Stewart, chief economist at Deloitte

Parties’ property promises compared?

The Independent’s Emily Dugan examines election pledges that parties have made in regard to housing. She says the Conservatives have vowed to build 200,000 new properties for first-time buyers in the next five years. They will also expand the Help to Buy scheme until 2020 and used the budget to launch the Help to Buy Isa. Labour said it would build 200,000 new homes, scrap estate agents charges for renters, cap rent increases and make three-year tenancies standard. The Liberal Democrats intend to create 300,000 new homes by 2020 and introduce a Rent to Own scheme. Labour, Ukip, the Green party, the Scottish National Party and Plaid Cymru have all said they’ll remove the Conservative-launched “bedroom tax”. Ukip will give social housing priority to ex-service men and women and will end Right to Buy for foreign nationals. The paper’s James Moore calls on the sector to give “generation rent” a helping hand, saying if people cannot buy, they should at least find renting easier, suggesting rental increase caps and tax breaks for landlords.

Young people giving up on home ownership

The number of young people saving toward deposits has fallen, with many in their 20s and 30s resigning themselves to not getting onto the property ladder. Halifax's Generation Rent report shows that only 43% of renters are currently saving toward a property purchase, while 57% are planning to rent long-term. This resignation comes despite the level of first-time buyers climbing to its highest rate in eight years in 2014, reaching 311,500 new buyers, with an improving economy and Government schemes helping people onto the property ladder. London has the lowest rate of young homeowners, with only 39% of 25-45 year-olds in property they own, with 82% of the capital’s renters expressing a fear that they will never own a property. Halifax data shows that those planning to buy are willing to wait an average of 5.35 years to get on the property ladder, where recent homebuyers spent an average of 3.6 years saving. The Times suggests the number of people planning on staying in the rental sector for an extended period means the assumption that “Britain is obsessed with home ownership” may require re-evaluation.

Outstanding Woman in Construction named

Louise Brooke-Smith, founder of Brooke Smith Planning and the global president of the RICS, has been named the Outstanding Woman in Construction in this year's Women in Construction Awards. Ms Brooke-Smith said: “I am honoured to have taken this award, not just for me but for the whole of my teams both at Brooke Smith Planning and at the RICS.” The awards are supported by industry names including Taylor Woodrow, Mace and Laing O'Rourke.