Number of new homes in the UK up with surge in London, latest data shows

The number of new homes registered in London last year was the highest since electronic records began over 26 years, according to new figures from the National House Building Council published on Friday 31 January.

In total 26,230 new homes were registered in the capital last year, a 60% increase on the 2012 figure of 16,364.
Overall, annual figures for new home registrations in the UK increased by 28% in 2013, compared to the previous year. This is the highest number of registrations at 133,670 since the economic downturn in 2007 […].

Emma Reynolds, Labour’s Shadow Housing Minister, welcomed the figures. ‘The number of new homes being registered may have finally started to grow, but it remains the fact that the number of homes being built has slumped to the lowest level in peacetime since the 1920s,’ she said.

‘We need to build many more homes to keep up with demand. Owning a home is out of reach of many low and middle income earners, rents are rising faster than wages and waiting lists grow ever longer,’ she added. LINK

[Source: Propertywire]
UBS is a global firm providing financial services in over 50 countries

As reported by www.reuters.com:

“The Swiss housing market shows growing signs of overheating, a survey suggests, increasing the chances that the central bank (SNB) will make good on a threat to impose a capital buffer for banks.

The UBS Real Estate Bubble Index has entered its risk zone for the first time since Switzerland suffered a housing market collapse two decades ago. It rose by 0.2 points to 1.02 points in the third quarter, UBS said on Monday”. LINK

Cushman & Wakefield, a commercial real estate services firm headquartered in New York, in its recent “Winning in Growth Cities 2012-2013” Report confirmed London as one of the most interesting real estate markets.

According to the Report, London is “the biggest global office and hotel investment market and the largest for cross-border investors”. LINK

 

Luxury Property Boom In London

According to the Financial TimesLondon’s prime property market – the top 5 per cent of housing by value – continues to outperform those of rival locations in New York, Paris and Hong Kong”.

“The huge number of developments being planned reflects the strong demand for expensive homes in London, with prices still surging as investors from overseas have flocked to the capital in to find stable investments away from the turmoil in the financial markets”. LINK

 

Qatar’s sovereign wealth fund is purchasing 20% of London Heathrow owner BAA in a move that adds the airport operator to a portfolio of British interests including the world famous Harrods and stakes in Barclays Bank and J Sainsbury. LINK