In the news this morning, ministers are looking at changes to national planning rules that will lead to more landlords offering three-year tenancies, although exactly how this will be achieved is still under review. More build-to-rent homes are also on the agenda, as is affordable rent. Construction activity hit an 11-month low last month, with commercial construction activity contracting as economic and political uncertainty prompted clients to delay decisions on new projects. Nearly six million older people are considering down-sizing, and that figure could grow to more than 11 million within 20 years.
Ministers plan for three-year tenancies (The Times/£)
Ministers are looking at a change to the national planning policy framework to encourage landlords to offer three-year tenancies.
Construction activity falls to 11-month low (The Telegraph/FREE)
Construction activity as measured by the CIPS/Markit purchasing managers’ index dropped to an 11-month low of 51.9 in July from 54.8 in June.
Millions considering down-sizing (The Independent/FREE)
Nearly half of those aged 65 and over are considering moving to a smaller property, according to McCarthy & Stone’s annual retirement confidence index.
Care home bed shortage could hit 70,000 by 2026 (The Daily Telegraph, p. 10)
The shortage of care home beds could rise to 70,000 over the next nine years, a report by JLL and BBC Radio Four predicts.
B&M buys Heron Food (FT/£)
Discount retailer B&M Bargains has acquired Heron Food Group in a deal that values the grocer at £152m.
Asda reveals 19% drop in pretax profit in 2016 (The Guardian/FREE)
Asda revealed a 19% drop in pretax profit last year and a 5.7% fall in like-for-like sales, in accounts filed at Companies House.
Travis Perkins reports higher sales but profit falls (The Telegraph/FREE)
Travis Perkins reported a 3.5% increase in sales to £3.2bn in the first half of the year, but pretax profit fell 4.5% to £168m.
