Rightmove reports annual growth of 9.5%
This week Rightmove published their monthly house price index, revealing that the average property price rose by 2.3% in the month (9.5% over 12 months), reaching £348,804.
This represented the biggest monthly jump in value in more than 20 years, and the highest annual rate of growth since September 2014.
The property website also reported an 11% increase in new property listings compared to the same period last year, suggesting that more sellers are coming to market before looking for a property to purchase.
Builders’ merchant revenues increase 30% in 2021
Builders’ merchants enjoyed a strong final quarter in 2021, experiencing a 15% increase on the same period in 2020 and 21% up on 2019.
Latest figures from the Builders Merchants Index showed that sales of heavy building materials increased by 24% on 2020, with timber and joinery increasing by 52%.
However, revenue growth was largely driven by increased product prices, as opposed to volumes.
Housebuilders commit to resolving cladding concerns
A letter from the Home Builders Federation to Secretary of State Michael Gove has outlined a three-stage proposal to tackle the issue of fire safety concerns on all buildings over 11 metres.
Executive Chairman Stewart Baseley committed to developers addressing fire safety concerns on their developments, remediating schemes as far back as 2000, and withdrawing from the Building Safety Fund.
Baseley said: “We reiterate our full support for the principle that leaseholders should not pay for fire safety remediation works. Our proposal is a strong indication of the seriousness with which HBF members take this matter and goes significantly further than their substantial existing commitments. We will continue to engage constructively with government to find fair and proportionate solutions.”