Despite the upcoming EU referendum in June, Estate agent Savills doesn’t expect this to have any effect on commercial property investment with Chinese investment set to exceed last year’s levels.
The UK’s commercial property sector continues to attract overseas investors
Last October the Chinese President made a state visit to the country and following it the UK’s commercial property market was described as a “safe haven” for Chinese investors.
And they have heeded the advice!
A staggering £560.3m of Chinese transactions have already been made in the London commercial real estate market since the beginning of the year to the end of February.
During the state visit, PM David Cameron visited Manchester with Chinese President Xi Jinping and said the north of England would create new partnerships with China to unlock the potential of the northern powerhouse.
Finally, the government provides developers with some motivation
In a bid to help meet the government’s 2020 target of building 200,000 per year, it has put 600 acres of surplus public sector land on the market. They hope it will deliver tens of thousands of new homes, boosting local growth across the country.
Richard Carr still believes there is more the government can do in terms of policies around planning, but does see the move as a positive step and proof that they are serious about getting the country building again.
Housing Minster Brandon Lewis has urged property developers to use this opportunity to build the homes “hard-working people” want and deserve.
Richard Carr believes David Cameron’s recent promise to spend £140 million on regenerating housing estates in the UK will help increase the stock of affordable housing and make communities far more attractive to first time buyers.
A ‘sink estate’ in Wales
Cameron refereed to some of the UK’s most rundown housing estates as ‘Sink Estates’ when announcing the £140 million fund. He explained that the government will work with 100 housing estates to either bulldoze them and rebuild or to radically transform them.
“Within these so-called sink estates, behind front doors, families build warm and welcoming homes. But step outside in the worst estates and you’re confronted by brutal high rise towers and dark alleyways that are a gift to criminals,” Cameron told propertywire.com.
According to theweek.co.uk, David Cameron is set go it alone in his bid to meet the government’s affordable housing target after losing patience with housebuilders, writes property specialist Richard Carr.
Going it alone
Is the government right to go it alone?
The reports claim that David Cameron is set to announce that the government will “directly” build up to 13,000 new affordable homes on public land. The PM is expected to unveil these “radical” plans in the next few days, which he claims (rather ambitiously) will match Margaret Thatcher and Michael Hesltine’s regeneration of London’s Docklands in the 1980s in significance.