Popular Help to Buy scheme scraped by the government

185,000 UK home owners had benefitted from government Help to Buy schemes, which will now be scrapped by the end of 2016, writes property developer Richard Carr.

Prices

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How will scrapping the Help to Buy scheme effect first time buyers?

Despite the schemes proving popular amongst first time buyers, the initiatives haven’t helped solve the country’s growing housing crisis, which the new government led by Theresa May are keen to do.

According to one estate agent emoov.co.uk, the average house prices across half of the country’s 326 districts will exceed the Help to Buy threshold by March next year.

As a result, Chancellor Philip Hammond confirmed that the scheme will close to new mortgages on 31st December 2016.

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Commercial office space experiences rental growth

Property development specialist Richard Carr was delighted to read the latest reports which indicate rental growth in commercial office property.

High demand

Richard Carr talks about commerical office rents

Commercial office rents are rising

Like in the residential property market, demand is high for prime rental office space in the UK’s main regional cities. Growth across such markets have experience an average increase of 4.3% in the year to June 2015.

Property consultants JLL’s data reflects a solid outlook for the next 12 months for demand and tight supply of new space.

“Sustained levels of occupier demand combined with the decreasing availability of Grade A office supply has contributed to healthy rental growth with year on year increases witnessed in all bar one of the core eight cities,” said Jeremy Richards, dead of national office agency at JLL.

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