New Street – Project of the Year 2016

Following a major £1bn redevelopment, Birmingham’s New Street Station has been crowned UK Project of the Year at the 2016 RICS Awards Grand Final.

The Birmingham Gateway & Grand Central project – delivered by a team including Mace, Network Rail, Birmingham City Council and Turner & Townsend – was described by RICS judging panel as the most significant investment in regenerating Birmingham in a generation.

More information on this page can be found on the Official RICS website here.

The first section of Birmingham New Street station opened in April 2013, the new station has  A new concourse three and a half times larger than the 1960s concourse, Refurbished platforms reached by new escalators and lifts, and a Refurbished Pallasades shopping centre and John Lewis store.

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Shortage of homes to rent

The UK is facing a “critical rental shortage” which requires a building programme to focus on providing for tenants, a surveyors’ body has said.

At least 1.8 million more households will be looking to rent rather than buy a home by 2025, the Royal Institution of Chartered Surveyors (Rics) claims.

It has called on the government to offer tax breaks to encourage building and investment in the sector.

The Conservative Party has indicated its focus remains on home ownership.

More details can be found on this BBC website

Rics have stated

“However, new RICS figures show that 86% of landlords have no plans to increase their rental portfolio this year – with that trend set to remain for the next five years. Additionally, a net balance of 58 per cent of RICS estate agents have reported a drop in buy-to-let sales since May.”

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Brexit News at RICS

Signs of stability in September since Brexit

Some media outlets noted that the UK market showed some signs of stability since Brexit, quoting RICS Chief Economist Simon Rubinsohn as saying that the real estate market seeks balance between a mixed economy and actions of the Bank of England, which has already started decreasing the cost of home loans.

More info on this page here

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