Housebuilders are increasingly addressing the ‘livability’ factor of their developments, with more than ever presented with a Building for Life award in recognition, this year.
The Commission for Architecture and the Built Environment (CABE) Building for Life award measures the design quality of new homes, marking developers against a strict criteria that includes a development’s character, environmental standing and architectural quality. In 2010, the number of developments presented with the award is up 50% on last year – the highest for eight years – suggesting that housebuilders are going to great lengths to build homes that people want to live in within communities that people want to be a part of.
Many new build developments now include valuable amenities such as a food store, doctor’s surgery or leisure facilities and are served by local transport links that integrate the new community to existing towns and villages in the area. Cofton (Wales) Ltd, who plan to build nearly 2,000 new homes near Llanharan, will also provide a range of shops and community facilities that include a primary school and library that will benefit new and existing residents.
A group of housebuilders have joined forces to launch their Get Britain Building campaign which is designed to highlight the economic and social benefits of government investment in the industry, which includes the creation of two and a half million jobs. This of course has a trickle-down effect for the economy as homebuyers engage solicitors, estate agents, removal companies and buy fixtures, fittings and white goods.
Last week, however, the Housing Minister, Grant Shapps, appeared to acknowledge the need for more new homes when he said he hoped to see more homes become affordable in the long term for fear of a whole generation of buyers being priced out of the market. This can only mean one thing – a commitment to increasing the number of new homes.
As I’ve mentioned before, new homes provide many first time buyers with a fast-track route into home ownership as a result of their wide range of deals and incentives not available in the re-sale market. While the future of HomeBuy Direct, a government scheme enabling buyers to own a 70% stake in a property, continues to hang in the balance ahead of the Government’s Spending Review on October 20, housebuilders have stepped up to the helm.
Linden Homes offers its own shared equity scheme on some developments where buyers can own a 75% share with the remaining 25% deferred for up to ten years and interest-free for the first three. The Co-operative Bank is also doing its bit to help buyers to get a foot on the property ladder, announcing the launch of a 100% shared ownership mortgage for first time buyers that includes a 25% contribution from a housing association.
It is hoped that next week’s Government Spending Review will lay the foundations for the housebuilding industry’s recovery as well as determining the affordability of home ownership for prospective homeowners. During a continued period of uncertainty there’s one thing withstanding – an industry striving to build attractive and sustainable homes well within the grasp of buyers.
See Also: Property News (6701), Big Smart Blog (11), Press Releases (371), New Homes Market (28), Building For Life (1), Government Spending Review (1)
Date Published: 26 October 2010
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