In the news this morning, the RICS is urging the government to adopt a bold approach as it warns the UK faces a 1.8m shortfall in the number of rental homes by 2025. The construction sector surprised the market by expanding in September, with the Markit/CIPS PMI for the sector rising to 52.3. In a further sign of a return of confidence post-Brexit, the government is restarting the sale of £16bn of Bradford & Bingley mortgage loans.
RICS warns of 1.8m rental home shortfall (The Independent/FREE)
The UK faces a 1.8m shortfall in the number of rental homes by 2025, the Royal Institution of Chartered Surveyors warns.
Construction sector returns to growth (FT/£)
The construction sector expanded in September, with the reading in the Markit/CIPS purchasing managers’ index for the sector rising to a higher-than-expected 52.3 from 49.2 a month earlier.
Bradford & Bingley loan sale restarts (The Times/£)
The government is restarting the sale of £16bn of Bradford & Bingley mortgage loans after putting the sale on hold in the wake of the Brexit vote.
Global property investment volumes fall (FT/£)
Global property investment volumes fell for the first time in seven years, dropping 5.7% to $919.7bn in the year to the end of June, according to figures from Cushman & Wakefield.
Reasonable to be a Nimby in face of ugly homes (The Telegraph/FREE)
It is perfectly reasonable to be a Nimby as developers too often build ugly homes, the Prince of Wales’s Foundation for Building Community said in a letter to the Daily Telegraph, in response to an announcement by the communities secretary on funding to build new homes.
Cherie Booth to represent landlords on tax changes (The Guardian/FREE)
Cherie Booth will represent Steve Bolton and Chris Cooper in a judicial review to take place in the high court in London on Thursday.
Healthy sales at Greggs (The Independent/FREE)
Greggs reported a 5.6% increase in total sales in the thirteen weeks ended 1 October, boosted by sales of its healthier products range.
IMF upgrades UK growth forecast for this year (The Guardian/FREE)
The International Monetary Fund revised its forecast for UK growth this year to 1.8%, partly reversing the cut it made to the forecast shortly after the Brexit vote.
Business leaders criticise immigration crackdown (The Independent/FREE)
Business leaders have criticised plans to crack down foreign workers as it looks to reduce net migration to sustainable levels.
