Monday morning briefing 2025 09 22

hammondjon
Sep 21
2 min read

Good morning and welcome to a Monday morning briefing.

· The UK’s built environment generates £568bn in gross value added, making up 24% of the national total, reports Property Week

· The Bank of England held interest rates at 4%, adding short term certainty to investors, if not the boost many developers were hoping for.

· BE News has reported that the government has appointed Herbert Smith Freehills Kramer partner Catherine Howard to advise on the next phase of its #planning reforms. Rachel Reeves, chancellor of the exchequer, said: “I am determined we do what it takes to get Britain building, unlock private investment and deliver an economy that works for working people – and rewards working people. I look forward to working with Catherine to deliver this.”

· Again, it is hoped that action will be taken as soon as humanly possible as Iain Murray and Bidwells released research showing the “UK’s #operationalliving sector is facing a period of significant challenge, with #BTR particularly badly affected – BTR planning applications have fallen to their lowest level since 2015 and current submissions are 35 per cent below the 10-year average.” The report continues “ the decline in planning applications is placing significant strain on the future rental and investment markets”. For a full report, see the @urban living news website.

· In The Times, Rob Perrins of Berkeley Group writes that "the British #economy will grow only if #London’s economy is growing.” He continues that “the government inherited from the last administration a Building Safety Act that is unworkable and a Building Safety Regulator that was incapable of doing its job.” It is a fascinating and clinical review, with three suggested reforms.

· QuadReal Property Group Limited Partnership announced that it has fully acquired the UNCLE brand in the UK and Europe as well as Realstar’s UK&I residential operating platform reports Proptech Connect. This significantly increases QuadReal’s #PBSA portfolio in Europe.

· Planning remains an issue in #Ireland as well, as Carol Tallon reports the number of housing units granted planning permission down by 12.5% in Q2 (35.5% decline in approvals across the four #Dublin local authorities), the Housing Minister chose a bad week to boast that the State is currently delivering 50% of all new homes.

· More than half of local authorities must double housing output to hit new targets.