A succinct weekly take on the UK property market and a roundup of headlines from the PropertyBrain team. Subscribe to the Friday Roundup here: http://pbra.in/pb-signup
Here’s a roundup of what we think are the big news stories this week:
* According to the latest monthly survey of chartered surveyors, expectations for price rises in the next three months were flat nationally, although the overall figure continued to conceal a significant divide between London and the rest of the UK, with the latter more optimistic about near-term price rises. Surveyors were more upbeat about the prospect for price rises over the year ahead, except for the capital, which remains resolutely glum.
* Official October data from the Office of National Statistics showed House price growth slowing again in October, as a sluggish London market continued to weigh down the national average. Although homes in England saw the biggest increase in value of any of the UK’s regions, up 4.7% overall, in London the rise was only 2.1% — well behind the c.7% growth seen outside the capital.
* Milton Keynes Council has granted planning permission for Crest Nicholson’s £90m mixed-use development at Campbell Park. The scheme, at a 15-acre site in south-central Milton Keynes, will create 383 new homes that include villas, townhouses and apartments, alongside new shops, restaurants, a pub, and nursery facilities. The plans also include a 117-berth marina, which in the future will form the start of a canal link between Milton Keynes and Bedford.
* Westfield, the developer behind popular shopping centres in London and New York, has agreed to be acquired by France’s Unibail-Rodamco in a $24.7bn deal that will create the world’s second-biggest mall owner by market value. The deal will create a new group under the Westfield brand that will own 56 shopping destinations in 13 different countries and 27 capital cities.
* Leading biotech research company Immunocore has signed for more than 10,000 sqft of laboratory and office space at The Oxford Science Park, which is expected to be operational by the end of the year. Immunocore is the latest international science firm to increase their investment in the UK after the recent creation of the government’s life sciences sector deal within the Industrial Strategy white paper.
* According to a report by Savills, almost 100,000 households in England are being priced out of the property market each year because of a shortage of affordable homes to rent or buy, according to a report. The number of priced-out households had risen from its previous projection in 2015 of 70,000 a year.