Welcome to your weekly round-up of residential stories from EG.
Last week, EG published an anonymous op-ed about one person’s experience of racism in real estate, prompted to speak out after watching the online attack of Black footballers after the Euro 2020 defeat.
The author has called on the industry to drop the media-friendly images of token diversity and call out discrimination to make sure it ends. This week, EG launched its 2021 Race Diversity survey. Take part to help us create a plan for improvement, or get in touch and tell us what you think we should be doing.
In this week’s EG Interview, Metropolitan Thames Valley Housing chief executive Geeta Nanda explains how she and the G15 are promoting diversity across the group of housing associations. Pulling in headhunters and events organisers, they are boosting board representation and inspiring new BAME leaders. Nanda also highlights how a changing of the guard in the industry provides new opportunities for fresh talent.
Speaking of new moves, this week EG revealed that Homes England’s former chief executive is moving into the private sector, as a principal for Avison Young. Nick Walkley will focus on unlocking major infrastructure and development opportunities. His appointment follows a flurry of new legislation from the government ahead of the summer parliamentary recess.
Following housing secretary Robert Jenrick’s announcement of new design requirements in planning earlier this year, the Office for Place launched, alongside the National Model Design Code calling for traditional development and trees. This has been incorporated within the National Planning Policy Framework too. The NPPF has been updated and the government has published results that saw general agreement on most policy – excluding permitted development updates, with 73% opposing changes to the Article 4 direction which would reduce its effectiveness in restricting the controversial mechanism.
In response, the government tweaked the wording. However, once recess is over ministers likely won’t escape ongoing PDR backlash, as the housing select committee has also published its investigation into the planning loophole reiterating many of those long-held criticisms: poor-quality housing, impact on high streets, loss of affordable housing and infrastructure contributions.
Jenrick’s final announcement before recess saw the ministry announce that EWS1 forms will no longer be required for buildings under 18m, citing an independent report finding “there is no systemic risk of fire in blocks of flats under 18 metres”. The government has also published plans for the Building Safety Levy, on new buildings over that level, to generate funds for remediation of high-rise builds.
It is yet another tax for the emerging and evolving BTR industry. After being targeted by “non-sensical” taxes, with policy and planning reform all round the corner the industry wants to engage with government. “Because of the misunderstanding about what BTR is – at all governmental levels – there are these constant barriers being brought in,” says Long Harbour’s managing director for multi-family, Rebecca Taylor.
This week EG revealed that investment into BTR in the second quarter surged threefold against last year, with £739m committed during the period, financing 4,690 homes. At the same time, developers lodged plans for a further 13,212 homes at BTR schemes with a mix of flats, co-living, student and even suburban BTR housing.
As the BTR bonanza continues, Lesley Roberts, partner at Allsop and president of the UK Apartment Association reflects on the sector’s learnings in lockdown – which the UKAA hopes to distil in a best practice guide to support new growth.
And finally, in EG’s first BTR webinar, experts dig into what is attracting this wave of investment and what challenges BTR will need to overcome in the next phase of evolution.
Watch the video, view the magazine, download the app (iOS and Android), and read on for more of the week’s headlines.
Birmingham presses on with 2,000 home Perry Barr funding strategy
Digbeth destination gets green light
L&G partners with Oxford Uni for bigger Begbroke
Ilke teams up with Boots for 622-home flagship scheme
Federated Hermes backs MediaCityUK BTR
Kinetic moves to lend £200m to PBSA
Moda hires CBRE senior director
Midlands resi agency hires development surveyor
Knight Frank adds to resi dev team
Grainger lets Southampton BTR scheme in record time
L&G pieces together modular homes pipeline with Broadstairs buy
Home REIT looks to raise more in equity issue
Foxtons looks to sell Alexander Hall
Big housebuilders added to landbanks during pandemic
Countryside’s revenue rises 184%
To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews
