The Federation of Master Builders (FMB) thinks making Britain’s homes more energy efficient should be supported with measures included in the UK’s upcoming budget. By adopting such measures, the British government would boost the construction industry and help householders deal with the issue of rising fuel bills. Brian Berry, chief executive of the FMB, warns that over nine million British households might be in fuel poverty by 2016 some nine million British households could be in fuel poverty.
In 2012, UK remortgaging activity dropped steeply compared to the levels seen at the start of 2008, showed the latest research on the topic published by Lloyds TSB. Remortgages represented 51% of total mortgage lending between January 2008 and October 2008 and fell last year to only 24%.
Spanish property firm Reyal Urbis has filed for insolvency today after a failed attempt at renegotiating its debts to its creditors, thus becoming the latest company to crack under the pressure of the country’s real estate market dire circumstances. The company’s debt at the end of September 2012 was of 3.6 billion euros.
China Vanke Co, the largest Chinese stock exchange listed developer, has just closed its first property deal in the US real estate market, acquiring 70% of a residential project in San Francisco owned by Tishman Speyer Properties LP. The two companies signed the deal on February 12, but didn’t make the details public.
The majority of UK homeowners things residential real estate prices will go up in 2013, as shown by the latest House Price Sentiment Index from property consultants Knight Frank and economics consultancy Markit, an index considered one of the most accurate in predicting house price trends.
Farm land prices in England and Wales have reached record highs in last year’s second half and are still expected to go up in 2013, according to the Rural Land Market Survey freshly released by the Royal Institution of Chartered Surveyors. Average farm land prices per acre were up to £6,783 in Wales and England, driven by increasing demand for commercial farmland in the second half of 2012 and will continue to rise this year.