Housebuilder Bellway warns mortgage rate hikes dampening housing demand Property Bellway has said that recent rises to mortgage rates as a result of the Iran war are dampening demand for housing, on top of rising building cost inflation due to the conflict. The FTSE 250 housebuilder said it has seen a “moderation” in customer demand in April and May, bringing an end to a “positive” [...]
No ‘capacity’ for Ed Miliband’s warm homes plan, says British bank boss Property A UK banking chief has warned the government does not have the “capacity” to meet its ambition to transition millions of homes to low carbon-heating technologies. Nigel Terrington, the boss of specialist lender Paragon Bank, said Labour faced an “operational capacity constraint” in its bid to implement its warm home plan. The £15bn initiative, which [...]
What does new City minister Rachel Blake have in store for the Square Mile? Politics The Westminster drama has hit the City in more ways than one. After Wes Streeting’s resignation triggered a mini-reshuffle, Felix Armstrong and Samuel Norman take a look at what the new City minister might have in store. In just under two years, the City has its fourth minister. Tulip Siddiq resigned in January 2025 after [...]
UK construction ‘exits tailspin’ but job losses persist as housebuilding slumps February 5, 2026 The UK’s struggling construction sector showed signs it was turning a corner at the beginning of the year even as job losses and shrinking order books persisted. The latest construction Purchasing Manager’s Index (PMI) from S&P Global – which serves as a headline index tracking industry activity – edged up to 46.4, up from 40.1 [...]
Construction sector hit by waning activity ahead of Budget October 6, 2025 Business activity expectations in the construction industry have fallen to the lowest since the end of 2022 as companies remained glum on future outlook ahead of the Autumn Budget. The latest Purchasing Managers Index (PMI) from S&P Global showed construction output showed the industry hit its highest level for three months at 46.2 – though [...]
Government pledges ‘whatever it takes’ to get Britain building September 27, 2025 The construction of three new towns will begin before the next election, the Housing Secretary will pledge at Labour’s party conference. The Government will “do whatever it takes to get Britain building”, Steve Reed is expected to tell Labour members on the opening day of the party’s annual gathering in Liverpool. Work on 12 new [...]
Think tank calls for policy changes to avoid ‘eyesore’ council houses August 13, 2025 A think tank has called for the overhaul of the way local authorities approach council houses to encourage building and avoid ‘eyesore’ houses. Policy Exchange’s report, which is backed by former Labour Housing Secretary Ruth Kelly and ex-Housing Minister Kevin Hollinrake, called for a new national design code for council houses as well as a [...]