Top Stories this week *Surveyors report house price falls *2007 house building stats show starts down but completions up by 35% *Bank of England Inflation Report Top stories this weekSurveyors report house price falls....read more2007 house building stats show starts down but completions up by 35%....read moreBank of England Inflation Report....read moreQuick LinksHousing Market NewsGovernment NewsEconomic NewsIndustry NewsHBF NewsHousing Market NewsMore surveyors reporting house price fallsThe balance of surveyors reporting house price falls increased in January, according to the RICS' UK housing market survey published yesterday.The RICS house price balance dropped for the sixth month in succession signalling half a year of negative market sentiment. 54.7% more Chartered Surveyors reported a fall than a rise in house prices an increase from 49.1% in December. The decline in demand picked up speed as new buyer enquiries fell at the fastest pace since October. Prior to October, the previous occasion when buyer enquiries reached this level was August 2004. 35% more chartered surveyors reported a fall than a rise in new buyer enquiries, down from 25% in December. View full report from RICSHome buyers and sellers are showing signs of increased confidence, says NAEA The UK property market is gaining momentum according to the National Association of Estate Agents (NAEA) monthly housing market survey. Buyers on books, housing stock and sales all increased in January in a reassuring upward trend.The survey reports that after a seasonally slow December, the market is beginning to pick up again, with the number of house buyers up 11% in January and first time buyers accounting for 14.5% of all sales, a rise of just over 3% for the same period last year. Meanwhile, housing stock increased by 9% and sales were up from 5 per agent in December to 8 in January.View full survey from NAEARecord fall in owner-occupation in EnglandThe number of owner-occupiers in England fell by a record 83,000 in 2007 according to research conducted by HB0SThe research also shows: - The number of households renting privately rose by 107,000 in 2007 There was a sharp fall - 235,000 - in the number of owner-occupiers below the age of 44 between 2005 and 2006London recorded the largest decline in owner-occupation between 2001 and 2006 with an 111,000 (6.3%) fall The number of owner-occupiers in the north rose by 345,000 (5.1%) between 2001 and 2006 compared with a 92,000 (-1.2%) fall in the southView full reportto topGovernment News2007 house building stats show starts down but completions up by 35%Fourth quarter housing starts in England were down 10.4% on the final quarter of 2006, according to CLG. Private starts were 9.0% lower, while RSL starts were down 22%.Starts in calendar year 2007 fell 6.2%, to 166,874, with a 5.5% fall in private starts (151,361) and a 12.6% decline in RSL social housing starts (15,299).By contrast, housing completions in England rose 8.8% in 2007 to 174,868, the highest total since 1989. Private completions rose 9.3%, with a 5.0% rise in RSL completions. Total completions in 2007 were 35% higher than the post-war record low of 129,507 in 2001.View full statistics for 2007Conservative says the Government has 'betrayed families trying to get on the housing ladder'Reacting to HBOS research on home ownership Grant Shapps, the Shadow Housing Minister has attacked the Government. He said: -"We believe that having the opportunity to own your home is a matter of social justice. Gordon Brown has betrayed ordinary families by making it harder to get on the housing ladder with higher Stamp Duty and additional costs like HIPs. It's time for Labour to follow our lead by slashing stamp duty for first time buyers on homes up to £250,000 so that people can once again attain their home ownership aspiration."CLG House Price Index for DecemberThe latest index's key findings are:The mix-adjusted average house price in the UK in December 2007 stood at £219,591, up from £218,662 in November 2007 (not seasonally adjusted).UK annual house price inflation in December 2007 was 9.1 per cent, down from 9.7 per cent in November 2007. Annual house price inflation in London was 13.5 per cent in December, down from 14.5 per cent in November. This is the second consecutive month that the annual house price inflation rate has fallen.The UK annual house price inflation rate for the 3 months to December was 10.0 per cent and 15.2 per cent in London.View full report to topEconomic NewsBank of England Inflation ReportA combination of slow economic growth and above-target inflation poses substantial challenges to monetary policy, according to the latest Bank of England Inflation Report.Under the assumption that Bank Rate falls in line with market expectations, the Bank expects output growth "to slow markedly this year and then gradually start to recover. The risks to growth are weighted to the downside."However the Bank's projection is that inflation will be "up sharply in the near term", before dropping back to a little above the 2% target in the medium term. The risks to inflation are balanced, according to the Report.The financial markets have interpreted the latest Inflation Report as signalling that the Bank will take a very cautious approach to further interest rate cuts.At the Report's launch, Bank Governor Mervyn King made reference to the Property markets as follows: -"...The impact of tighter credit conditions is apparent in property markets, and is particularly likely to affect investment in commercial and residential property and perhaps business investment more generally. The household saving rate is likely to rise, slowing the growth rate of consumer spending, signs of which are already evident in official and survey data of retail sales...."View the full speech by Mervyn KingView the full Inflation Report to topIndustry News"Unsaleable, uninsurable, uninhabitable" - tougher planning controls on flooding needed for new homes says the ABITougher planning controls are needed if flood insurance is to remain widely available for new homes, the ABI (Association of British Insurers) said yesterday. The ABI claimed that of the three million new homes the Government plan to be built by 2020, a third could be on the floodplain. [HBF note: we do not believe this estimate is accurate, particularly taking into account PPS 25 rules.]Justin Jacobs, the ABI's Assistant Director of Property, warned:"The Government's ambitious housing plans are in jeopardy unless we reduce the flood risk. In the last year, 13 major developments have been given the go-ahead despite Environment Agency advice on the flood risk. Where a local authority plans to ignore flood risk advice, the Government should step in and review the proposals and be compelled to publish their decision. Insurers want to continue to provide flood cover, but poor planning decisions will lead to more homes becoming unsaleable, uninsurable and uninhabitable."Home builders successfully managing flood risk says HBFIn a press statement responding to the Association of British Insurers' calls for new controls on home building in flood plains, John Slaughter, HBF External Affairs Director said:"Members of the Home Builders Federation are committed to building much needed homes across the country. However, it is not in our interests to build in areas which are difficult to insure or at risk of flooding; these homes will simply not sell.""The Government's Planning Policy Statement 25 already requires a strong assessment of flood risk before any planning application is granted."John was also interviewed on this subject yesterday on the BBC Radio 4, Today Programme - Listen againto topA new guide to building sustainable homes is issuedA new guide, supported by the UK Green Building Council was issued this week. The publication provides hands-on, practical advice to developers on building sustainable homes.Issues such as the regulatory drivers are explained in greater detail, as are the cost and value implications of dealing with the Code for Sustainable Homes. The guide includes case studies.View the guide Ecobuild 2008 - zero carbon in a dayEcobuild returns to Earls Court, London between 26-28th February 2008.The exhibition will be double the size with over 500 exhibitors, more than 75 free seminars and a series of new attractions linked to the key themes - zero carbon, water management and renewable energy.With zero carbon legislation looming, Ecobuild's Road to zero carbon - realised as a series of external wall elevations - shows how different combinations of superstructure, insulation and cladding can contribute to a low carbon outcome. It is anticipated that the Zero carbon house by Zedfactory, which will reach the Code for Sustainable Homes Level 6, will attract the most attention at the show. This teamed with the dedicated zero carbon seminar programme should assist with educating delegates on ways to meet the forthcoming challenges.Register for your free invitation to the show now at http://www.ecobuild.co.uk/Visit the HBF stand at Eco-build - STAND E796to topFuel benefits increaseFrom 6 April 2008, the multiplier for car fuel benefit increases from £14,400 to £16,900 - an increase of 17.4%. Corrected National insurance numbersLater this year HMRC will be transferring all PAYE records onto a new computer known as NIRS2. It is expected that a considerable number of missing or incorrect NINOs (National Insurance Numbers) will be traced as a result.Correct NINOs will be issued by supply of hard copy P46-5(T) forms. It is important to use these and amend all records.to top HBF NewsHBF debate zero carbon homes stamp duty exemption with ConservativesHBF Director of External Affairs John Slaughter took part in a debate about the exemption with Conservative Party Treasury team member Justine Greening MP on Radio 4's You and Yours programme on Wednesday. HBF argued for the exemption to be more widely drawn to provide greater support for industry efforts to achieve zero carbon standards successfully. The Conservatives had claimed the exemption was an "eco-con".Listen again to the debate Weekly News Summary Survey - Prize DrawHBF is reviewing its communications with members to ensure that we are providing information in the way you would like to receive it and which is most helpful to you and your business. We are conducting a short survey to obtain member feedback on the HBF Weekly News Summary. All answers will be confidential; both the names of respondents and their companies will be kept private.*All completed surveys returned by the February 29 will be entered into a prize draw to win a case of wine*The survey is short and simple and takes just a couple of minutes to answer.Please click here to complete the survey.To ensure your feedback reaches us please complete by February 29. The winner of the prize draw will be announced in the Weekly News Summary on March 7.to topStewart Baseley's, Chairman's Report - JanuaryThe HBF Executive Chairman's Report for January is now available on the website (members only)Click here to view the reportHousing Futures - 13th MarchEast Midlands Conference Centre, NottinghamA one day conference and debate on the issues facing the industry for managers of regional businesses to attend with their senior team. Confirmed speakers include: Sunday Times, Economics Editor, David SmithMarket guru and HBF Economist, John StewartPlaces for People, CEO, David CowansEnglish Partnership, Director of Policy, Steve CarrHBF, Executive Chairman, Stewart BaseleyStewart Milne group, Design Director, Ross Peedle Plus Barratt Homes, Senior Land Manager, Ben Cook and HTA, Head of Sustainability and Innovation, Rory Bergin talking about their winning Carbon Challenge scheme.More information and to bookto topThe Future of Building Control - 10 April 2008Austin Court, BirminghamThe Government is proposing major changes to the way that Building Regulations are enforced. These changes will affect everyone involved in house building - builders and developers, architects and designers, specialist consultants and building control professionals. This conference sets out the reasons why change is thought to be necessary, why the current system doesn't appear to be working properly and what improvements the government would like to see. Delegates will be able to contribute to the debate by challenging the views of the speakers and voting electronically For further details or to book please contact the HBM Events Team on 0207 960 1646 events@hbmedia.co.uk For other HBF events visit the website http://www.hbf.co.uk/index.php?id=eventsandmeetingsFor HBM events visit www.hbmedia.co.uk to topJo WestonView Previous Weekly News Summary
