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Showing posts from October, 2008

FT.com / World - PM urged to take control of builders

FT.com / World - PM urged to take control of builders

Gordon Brown has been urged by senior Labour MPs to nationalise parts of the housebuilding industry in the wake of this week’s rescue of the big banks.
Jon Cruddas, who recently declined the post of housing minister, pushed for state intervention in the housing industry, arguing there was a case for wholesale nationalisation.

Backbenchers, former ministers and left-wing pressure groups have told the Financial Times that the time has come for the prime minister to seize housebuilders, a move that only a year ago would have been inconceivable.
Share prices of companies such as Barratt Developments and Persimmon have plunged in the past year amid a dramatic slide in sales and prices of new homes. Taylor Wimpey traded as low as 11p this week, down from 518p in early 2007.
Many influential Labour voices believe the government could benefit from taking a greater role in the industry. This could save thousands of jobs and solve the shortage of…

Housing shortage forecast - New Zealand's source for business, stock market & currency news on Stuff.co.nz

Housing shortage forecast - New Zealand's source for business, stock market & currency news on Stuff.co.nz

Fears of a critical housing shortage have been raised as home building plunges.
With New Zealand's population rising while construction falls, a shortage of homes is expected by the second half of next year.
There are concerns the shortage could harm the economy and trigger another bubble in the housing market.
The number of consents issued by councils for new homes has dropped 42 per cent since mid-2007, reaching an eight-year low in August.
However, New Zealand still has more people arriving than leaving and more births than deaths, gaining 40,000 citizens in the past year, Statistics New Zealand figures show.
Bank of New Zealand chief economist Tony Alexander said a housing shortage was just a year away.
"We are going to be looking at a whole new debate about a housing shortage in late 2009," he said. "Construction is dropping like a stone."
He predicte…

The Herald Online **News**

The Herald Online **News**

ANC MPL Phila Nkayi launched a stinging attack on the standard of housing delivered by government saying that in terms of the required quality “we have not started to build houses and that is the reality”.
Speaking during a debate on an inspection of houses in the Cacadu district municipality that found the quality of houses “leaves much to be desired”. Nkayi said when members of the housing committee asked people about their houses they responded by asking: “Could you live here?” This, he said, was an indictment.
Housing MEC Thobile Mhlahlo was not present during the debate and Public Works MEC Christian Martin was unable to say where he was.
Nkayi said the Reconstruction and Development Programme (RDP) required that houses provide protection from the weather, privacy, sanitary facilities, storm-water drains and electricity, but “all the houses we visited lacked a number of these things”.
He said the DA had pointed to the houses in Joe Slovo as an example of the…

The Herald

The Herald

Let’s consider low-cost housingZIMBABWE’S urban areas need well over 500 000 new houses and flats immediately just to cope with existing populations and will no doubt need tens of thousands more each year since the population of the towns and cities continues to rise rapidly.This year, celebrations in Harare to mark World Habitat Day were a far cry from the pious speeches that tend to be given on these special days.There was, for a start, the launch of the Zimbabwe Urban Housing Database that gives detailed breakdowns of just how many houses and flats of what kind already exist, average numbers in each home in each area, and the estimated number of new houses needed urgently.And the speakers, led by the Minister of Local Government, Public Works and Urban Development, Cde Ignatius Chombo, spoke of the need for urgent action, from amending outdated legislation that makes it difficult for the average person to build to the need to mobilise funds from the private sector.There a…

Abu Dhabi needs 28,000 new homes

Abu Dhabi needs 28,000 new homes

The Abu Dhabi Government must intervene quickly to tackle a festering local rent crisis that could scare off investors and create socio-economic problems in the emirate, a semi-official report said yesterday.The report by the Abu Dhabi Chamber of Commerce and Industry (ADCCI) said it was time for a total freeze on rent rises after the caps introduced by the government early this year failed to produce results.It blamed real estate investors for the surge in rents over the past two years and presented a gloomy picture on the situation in the near future. Although it expected sustained increases in rents in the next two years, the report said it would be much slower than the staggering growth in housing costs over the past few years caused mainly by supply bottlenecks and high demand.The report said demand would continue to outrun supply in the housing sector on the grounds most of the new units are mainly intended for high income people. It called for th…

Uganda Business News: NHCC says Uganda has insufficient houses

Uganda Business News: NHCC says Uganda has insufficient houses

The Chief Executive Officer of the National Housing and Construction Corporation (NHCC), Joseph Kitamirike has indicated that Uganda lacks 600,000 low cost housing units in urban areas to adequately meet the growing demand for accommodation. He says the growing demand is a result of the high rural urban migration. People migrate to urban areas to look for jobs and better services like electricity, water and healthcare among others.Kitamirike told journalists in Kampala today that the private sector faces challenges in setting up the units because of limited government support. He appealed to the government to reduce taxes on construction materials and improve infrastructure in the housing estates like water and electricity access to motivate people buy the houses.The NHCC chief also appealed to banks in cooperation with the government to reduce interest rates on mortgages to enable people easily acquire houses.He says the c…

Newsnet - Gvt calls for low-cost housing

Newsnet - Gvt calls for low-cost housing

The government has called for existing legislation and by- laws implemented by local authorities to be amended in line with the new policies meant to facilitate construction of low cost housing.The call was made by the Minister of local Governmentt, Public Works and Urban Development, Dr Ignatius Chombo at a one day symposium held in Harare to commemorate World Habitat Day.World Habitat Day is commemorated every first Monday in October, a day which was set aside by the United Nations general assembly to give member states an opportunity to reflect on their performances in the housing sector and other activities related to the general improvement of the human settlements.Addressing the gathering, Minister Chombo lamented the existence of legislation that is hindering the building of low cost housing.He added that an estimated one billion people worlds wide are living in slums and a greater percentage of them are in sub-Saharan Africa.He also note…