Blanchard Consultancy – the independent construction consultant

Alistair Darling's plan to assist the construction industry by bringing forward £3bn of infrastructure work was overshadowed last night when it emerged that the Treasury has ordered a review of its huge overhaul of the English schools estate.

Although the chancellor yesterday announced the fast-tracking of £800m worth of primary school construction and refurbished secondaries, a rethink of the £45bn plan for new schools and for an improvement in the education workforce would be a severe blow to the building sector.

The schools programme is thought to be worth more to construction firms than the Olympics and the proposed expansion of Heathrow airport put together.

The pre-budget report identifies a series of areas to be targeted under the public value programme for additional savings.

Read more at Guardian online

Labels: Alistair Darling, Construction, Housebuilders, pre-budget report

Homebuilding in Britain has fallen to a 84-year low as falling house prices and dwindling numbers of buyers hit construction firms, a new report shows.

Some 135,000 private houses were started this year, down from 203,500 last year, figures from the Construction Products Association and Ernst & Young show.

It is the lowest number of housing starts during peace time since 1924, when housebuilders started work on 87,000 properties.

There are fears that housebuilding could grind to a virtual halt in the new year as more housebuilders stop work. Several large construction groups have postponed starting new projects as they try to drum up buyers for existing completed homes.

Article continues at Times Online

Labels: Construction, Housebuilders, uk housing

Sharif Shafei, PR supremo for a leading Dubai-based developer, can certainly talk the talk. Words like brand, vision, iconic and ambition trip easily off his tongue – all to convince you that it's business as usual in the world's hottest real estate market.

Shafei, an engaging Egyptian-Canadian, works for a company behind huge construction projects in neighbouring Saudi Arabia, Qatar and Morocco, all cashing in on an oil-driven boom and Dubai's reputation for cutting-edge architecture, boundless imagination and high returns.

"I am telling people to continue to invest in real estate," he insisted. "There is no bubble that's going to burst."

In a week that saw panicky stock markets, falling oil prices and credit growth outstripping deposits, the brashest economy in the Middle East barely paused for breath. And with annual growth of nearly 18% since 2001, it's easy to see why. Indeed, across the Gulf, the overall real estate market has been valued at a whopping $1.3tr (£750bn).

Read the full article at Guardian online

Labels: Construction, middle east construction

The Truth about Property is back for a second series and aims to make sense of the housing market turmoil. In this series presenters Andrew Verity and Jenny Scott travel around the UK to hear how households are coping.

Are you crash proof?

The ubiquitous credit crunch has led to a rough ride for home owners in recent months, causing higher mortgage costs and in some cases, negative equity and repossession.

In the first programme Andrew and Jenny find out how homeowners would cope in the event of a major property crash.

Andrew meets the Sawbridge family in Sheffield who are struggling to pay the mortgage and keep a roof over their heads.

While Jenny meets a property investor who is sure there is money to be made even when times are hard.

A solid investment?

In the second programme Andrew and Jenny find out how much we all invest in our houses and ask, is property a solid investment?

Andrew travels from John O'Groats to Lands End meeting people who face property dilemmas.

These include Tina and Simon who are first-time buyers and have just bought a home in Newton Aycliffe. The trouble is, falling prices have turned their dream into a potential trap. Now Tina wishes they had not bought.

Andrew also meets those who have found a creative solution to tough investment decisions such as Robin and Nicky who have invested in eco features. They believe a greener home will be easier to sell. Until then, they will enjoy lower utility bills.

Meanwhile Jenny jet sets with the property players.

Andreas Panayiotou used to work in his mum's laundrette. He bought his first property on Chapel Market in London 14 years ago. Today he owns assets in excess of half a billion pounds.

Andreas predicted the housing market slump and sold property worth £700m at the market peak. How did he know when to sell? And how far does he think property will fall?

Jenny also visits one of the most exclusive places to live in the world. Here an air of status has put a premium on prices. But how solid is an investment that is built partly on aspiration?

The Truth about Property will be broadcast on BBC Two on Monday 12 and Tuesday 13 May at 2000 BST

More details at BBC Business news.

Labels: BBC, Construction, Housing market, The Truth about Property