Welcome to This Week in Property, your essential update on the latest UK construction and property news. October has seen a flurry of movement across the UK property sector, from emergency housing measures and court rulings to new funding and legislative reforms. Here’s a quick look at the key developments shaping the market this month.

Emergency package unveiled to boost London housebuilding

The government has launched an emergency package to tackle London’s critical housing shortage, described by industry insiders as “extraordinary.” The measures aim to reform planning regulations and accelerate development in the capital. Property Week reports that this intervention comes as London struggles to meet housing targets, with the package focusing on streamlining planning procedures and increasing affordable housing delivery.

Supreme court ruling boosts housing developers

In a landmark case, a housing developer has won a Supreme Court appeal regarding nutrient neutrality requirements, potentially unlocking thousands of new homes. The Construction Index notes this ruling could remove significant barriers for developers. The decision offers a planning boost for housebuilders who have previously been constrained by environmental regulations.

£500m Investment for Oxford-Cambridge Corridor

The government has revealed a £500 million investment package for the Oxford-Cambridge corridor, highlighting its commitment to strategic regional development. This funding aims to enhance infrastructure and stimulate economic growth in this important innovation hub.

Housing market shows signs of pre-budget caution

The housing market is displaying mixed signals as the Autumn Budget approaches. Estate Agent Today reports that house price growth has slowed, with Land Registry data showing budget concerns dampening demand. Savills notes that London’s £5m-plus market has effectively paused as wealthy buyers await potential tax changes.

Rental market dynamics

Residential rental growth has slowed for the seventh consecutive month, suggesting a potential cooling in what has been an overheated market.

BTR investment volumes surge

Build-to-rent continues to attract significant investment, with BTR investment volumes up 35% in Q3, reaching £3 billion year-to-date. This surge demonstrates institutional investors’ growing confidence in the rental sector.

Renters’ Rights Bill nears royal assent

The Renters’ Rights Bill is on the verge of becoming law as it moves to Royal Assent. The bill is in “touching distance” of enactment. This legislation will significantly reform the private rented sector, though opinions remain divided on its potential impact.

Awaab’s law comes into force

Awaab’s Law, named after a child who died due to exposure to mold in social housing, has officially come into force. The law requires landlords to investigate and fix reported hazards within specific timeframes, representing a major compliance shift for the rental sector.

Home buying and selling reform receives funding

Nearly £2 million in government funding has been allocated for home buying and selling reform. This investment aims to streamline property transactions, while the Council for Licensed Conveyancers has secured £750,000 specifically to help speed up the home buying process.

With government intervention, fresh investment, and significant policy shifts all unfolding, the property landscape is evolving fast. Staying alert to these changes will be essential for developers, investors, and industry professionals heading into the final quarter of the year.

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