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Vistry Group is making waves in the #housing market, set to deliver over 18,000 homes this year, outpacing its competitors and becoming Britain's largest house builder. Additionally, the company projects to construct 1 in 6 of the UK's new affordable homes in 2024. Chairman and CEO #GregFitzgerald attributes this success to Vistry's Partnerships model, which is excelling beyond the traditional house building market. The firm's growth strategy aligns with the government's housing goals, uniquely positioning Vistry to contribute significantly to resolving the country's housing crisis. In the first half of the year, Vistry saw a 9% increase in completions, reaching 7,792 homes, driving revenue to £1.7bn and pre-tax profit to £157m, a 37% improvement. Notably, the company maintained a stable adjusted operating margin of 11.5%. With a robust forward sales position of £5.1bn, a 19% increase from the previous year, Vistry is already 91% forward sold for the full financial year in 2024. Fitzgerald emphasized the company's commitment to achieving a year-end net cash position, showcasing Vistry's strong financial standing and strategic planning for the future. Read more: [https://lnkd.in/eaBVrJgm] Construction Enquirer

Good morning. Here’s your daily round-up of the latest news and views from EG all perfectly curated to set you up for the week ahead. Birmingham City Council and Lendlease’s plans for the £1.9bn Smithfield development have been recommended for approval. The joint venture’s new plans for the 42-acre site include 3,000 homes and 1.7m sq ft of commercial space. The plans are set to be determined on 16 May. In the increasingly active world of flex, former GPE director of workplace services David O'Sullivan has landed a new gig at the The Crown Estate as director of transformation property services. Office landlords across the major regional cities have reasons to be cheerful as BNP Paribas Real Estate reports the biggest uplift in rents for more than two decades. According to the firm’s Big Ten Regional Office report prime rents grew by 7.6% year-on-year from Q1 2023 to Q1 2024 on average. Elsewhere, PGIM Real Estate has shown its confidence in the purpose-built student accommodation sector, splashing £184m on six properties from Unite Students. “In the current market environment, it’s rare to find a stabilized portfolio with high-quality yielding assets located in key regional cities,” said Tobias Waldschmidt, senior portfolio manager of European core plus strategy at PGIM Real Estate. “We believe the UK PBSA sector has strong underlying fundamentals as demand for student housing is only set to increase with more students applying for university.” Demand for beds of any type, has led to Barratt London and Asda teaming up to transform the supermarket giant’s current store in Park Royal, west London, into a major mixed-use scheme, as exclusively revealed by EG's Akanksha Soni. Subject to planning, the pair will create a JV in which Asda gets a new 60,000 sq ft superstore and Barratt delivers 1,500 new homes. The deal would be one of the largest land deals to complete in London since 2019. And finally, EG’s annual search for a special individual from somewhere within the built environment to join our award-winning Future Leaders programme has begun. We’re on the hunt for at least one person to become a “wildcard” entrant to this year’s new and enhanced programme. It is a programme that EG is incredibly proud of and a project, that with the amazing support of our partners – which this year includes Clyde & Co, CBRE UK, Knight Frank and Nuveen, a TIAA company – enables us to offer at least one slot on this intensive public speaking training programme to someone who would never ordinarily be given such an invaluable opportunity. Find out more and apply here: https://lnkd.in/eCyHTZfm All that and so much more in your EG Morning News ⬇ ⬇ ⬇ https://lnkd.in/e2wkRKUf

Ironically, this doesn’t improve housing supply—it makes it worse. Large corporations buying up homes are pricing out everyday buyers. Companies like AirBnB and Invitation Homes are dominating the market, shrinking available supply and driving up prices for everyone else. With 16 million vacant homes and around 650,000 homeless people, home buying credits aren’t the solution. What we really need are stronger market regulations and an end to corporate home hoarding. It’s time to prioritize people over profits.

🏢 John Lewis Has Submitted Plans for Build-to-Rent Market! 🏢 John Lewis plans to build 215 Build-to-Rent (BTR) flats on its former delivery depot site in Reading. With an £80m investment lined up and a £500m joint venture with global investment firm abrdn, this project is part of a broader strategy to deliver 1,000 new homes across the UK. Why Should Landlords Care? ➡️ The BTR market is booming, filling the gap left by traditional landlords exiting the market. ➡️ Demand is high due to rising interest rates, high house prices, and fewer government incentives for first-time buyers. ➡️ BTR developments offer professionally managed properties, attracting a growing number of tenants. As John Lewis makes its move, landlords must stay informed and adaptable to remain competitive. Understanding local markets, tenant needs, and regulatory changes will be key. 🏠 Stay ahead of the curve by following the LPA for up-to-date news, or become a member for exclusive news, events, and to have your voice heard by our representatives. #Landlords #BuildToRent #RealEstate #PropertyInvestment #JohnLewis #RentalMarket #PropertyDevelopers #LandlordLife #InvestmentProperty #ReadingProperty #UKHousingMarket

🌍 Today, I'm in Farringdon, Sunderland, checking out some properties! 🏡 Over the past 20 years, I've held property here, and it's always been an incredible spot for #rental opportunities. With Herrington nearby, once one of Sunderland's poshest areas, now it's Ashbrook that everyone is eyeing up. What makes these ex-council #properties such a solid investment? They're well-maintained, no damp issues, and sturdy roofs – thanks to years of council care. Plus, #property values have doubled over the last 15 years! 📈 For example, a 3-bed bought for £60k is now worth £120-130k, and 2-beds are hitting £110k. So, if you're looking for a solid investment in #Sunderland, ex-council stock is definitely worth considering! Happy Friday everyone! 🎉 #debbiedoesproperty #PropertyInvestment #SunderlandProperty #ExCouncilHomes #RentalIncome #Farringdon #RealEstateTips #BuyToLet #PropertyInvestor #UKHousingMarket #PropertyGrowth #InvestInSunderland #HousingMarket #DebutorsProperties #Ashbrook #Herrington

It’s important to recognise that the needs of a regional city like Bendigo differ significantly from those of Melbourne. It's concerning to see the Bendigo Managed Growth Strategy align so closely with Melbourne’s approach. Focusing 70% on infill development seems to overlook one of Bendigo’s greatest attractions—the opportunity for space, which draws so many people to the region each year. With only a 30% allocation for greenfield development, it's hard to see how this strategy will effectively meet the goal of accommodating around 87,000 new residents by 2056. A more balanced approach could better support Bendigo’s unique appeal and growth potential.

What a great start to 2024. Today was handover day for this fantastic bungalow in Warrington. The video shows what an incredible transformation Warwick Investments has achieved in making this tired bungalow a tremendous new home for four tenants with reduced mobility. Whenever we get schemes handed over to us, we see it as a reminder of why we are in business: to provide a fantastic new homes to new tenants. These are people who struggle to access the 'mainstream' housing market and are often left in residential settings, with families who can't cope or in sub-standard housing. Working collaboratively shows what can be achieved. #changinglives #Newhomes

It's onwards and upwards for David Cliff Lettings 🚀 We've, so far, 𝘀𝗲𝗰𝘂𝗿𝗲𝗱 𝘁𝗲𝗻𝗮𝗻𝘁𝘀 𝗳𝗼𝗿 𝟭𝟯 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀 (𝗮𝗻𝗱 𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴) 𝗶𝗻 𝗔𝘂𝗴𝘂𝘀𝘁 alone! These successful lettings are not just numbers... they're stories of people embarking on new chapters, and we are thrilled to be part of each one 📦🏠 Whether you're looking for your next nest or need the ideal tenant for your property, David Cliff is the name you can trust to turn 𝗽𝗿𝗼𝘀𝗽𝗲𝗰𝘁𝘀 𝗶𝗻𝘁𝗼 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀 𝗮𝗻𝗱 𝗵𝗼𝘂𝘀𝗲𝘀 𝗶𝗻𝘁𝗼 𝗵𝗼𝗺𝗲𝘀. Here's to the joy of new beginnings. With David Cliff, you're not just letting a property, you're unlocking the door to new possibilities 🔑💖 #DavidCliffLettings #Tenants #HomeSweetHome #RealEstateExcellence #LettingsLeaders #NewBeginnings #RealEstateRush #PropertyBuzz

It's onwards and upwards for David Cliff Lettings 🚀 We've, so far, 𝘀𝗲𝗰𝘂𝗿𝗲𝗱 𝘁𝗲𝗻𝗮𝗻𝘁𝘀 𝗳𝗼𝗿 𝟭𝟯 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀 (𝗮𝗻𝗱 𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴) 𝗶𝗻 𝗔𝘂𝗴𝘂𝘀𝘁 alone! These successful lettings are not just numbers... they're stories of people embarking on new chapters, and we are thrilled to be part of each one 📦🏠 Whether you're looking for your next nest or need the ideal tenant for your property, David Cliff is the name you can trust to turn 𝗽𝗿𝗼𝘀𝗽𝗲𝗰𝘁𝘀 𝗶𝗻𝘁𝗼 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀 𝗮𝗻𝗱 𝗵𝗼𝘂𝘀𝗲𝘀 𝗶𝗻𝘁𝗼 𝗵𝗼𝗺𝗲𝘀. Here's to the joy of new beginnings. With David Cliff, you're not just letting a property, you're unlocking the door to new possibilities 🔑💖 #DavidCliffLettings #Tenants #HomeSweetHome #RealEstateExcellence #LettingsLeaders #NewBeginnings #RealEstateRush #PropertyBuzz

Two very different headlines within 2 days: Barratt's profits down 76% Vs Vistry profits up by 7%. Some could question whether the two operate in the same industry. Yes, both are well run and respected companies, and there are exceptional items in the numbers that need to be considered. However, their adopted business models are now the key points of difference and this may well see the gap between the two widen over the coming years. Vistry has gone headlong into the partnership model. This is transformational and not without risk. It has cranked-up its build programme without worrying too much about subdued demand from private buyers who are feeling the stresses of affordability. That's because they have guaranteed buyers for their product (and a great cash flow of other peoples' money which turbo-charges their ROCE) via institutional investors (BTR/SFH) and RP's. Demand from the former is set to continue for many years and so too could RP's although it will not be without it's challenges as many house-builders trying to offload S106 obligations will know. Well done Vistry for breaking the traditional house-builder model and proving that it can work. The UK needs transformational changes if it is to deliver anything like the 350,000 new homes it needs each year. This is proof that it can be done and that everyone in the value chain - from landowner to end customer - can be a winner! Vistry Group #btr #sfh #buildtorent #singlefamilyhousing