Property and construction news
- Cornwall has overtaken London as the most searched-for location in which to buy property on Rightmove. The proportion of Londoners looking to move out of the city rose from 39% to 52%.
- Ox-Cam Expressway | The £3.5bn Oxford-Cambridge road link has been scrapped as a report by Highways England showed that it did not represent value for money.
- Fire Safety Order | New announcements by the Home Office say that building owners could face unlimited fines for breaches to fire safety regulations.
- Insolvencies | Construction insolvencies have outstripped those in retail and hospitality in the last year. 1,634 construction firms have collapsed, compared to 1,378 and 1,355 in hospitality and retail.
- Carbon retrofit | The Government has listed 429 carbon retrofit projects worth £1bn. The new Industrial Decarbonisation Strategy intends to cut emissions by two-thirds in 15 years.
- Net zero jobs | The target to achieve net zero carbon emissions by 2050 will require the equivalent of 350,000 new roles in the construction industry by 2028 according to the Construction Industry Training Board. It also notes that the target will require work on 27 million domestic and two million non-domestic buildings.
- Energy efficient homes | The House of Commons Environmental Audit Committee (EAC) has reported that the task of ensuring the UK’s housing stock is adequately energy efficient has been underestimated by the government. The current estimate of between £35bn and £65bn doesn’t include properties with solid walls or in conservation areas. The EAC estimate is £342bn.