Latest news with #housingcrisis
BBC News
2 hours ago
- Business
- BBC News
Crown Estate urged to add more homes to Cambridge Business Park
Concerns have been raised that the redevelopment of a business park would not include enough houses for a city with "a housing crisis".The Crown Estate wants to transform Cambridge Business Park, on Milton Road, Cambridge, into a mixed-use district, including at least 350 homes and a high street. Councillors from Cambridge City Council and South Cambridgeshire District Council told the developer the area action plan for the site included an expectation of 500 homes. Matt Sampson, development director at The Crown Estate, said the ambition was to go above 350 homes, but he did not want to overcommit at this stage. The business park owner outlined its plans at the council's joint development management committee meeting on Wednesday, as reported by the Local Democracy Reporting Service. Councillors heard the Crown Estate was taking an "experimental approach to the masterplan", and heard about proposals to turn an empty office block in the park into an innovation hub with a rooftop farm and to turn a car park into a modular laboratory building. The councillors supported the Crown Estate's plans to site more accessible and the amount of green space proposed. Katie Thornburrow, a Labour councillor on Cambridge City Council, said: "We have a housing crisis in Cambridge and if you are not going to provide [500 homes], I would like to know why."Mr Sampson said more details on house numbers will be included in pre-application meetings, before an outline application for the redevelopment is formally submitted next Crown Estate is an independent company that belongs to the monarch for the duration of their reign, with a £16bn portfolio of property that spans the profit is delivered to the Treasury, which decides the annual payment to the King, known as the Sovereign Grant. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X.
Telegraph
2 hours ago
- Business
- Telegraph
Landlords could be forced to forgo rent for a year under Labour reforms
Landlords could be forced to forgo rent for up to a year under Labour's rental reforms, experts have warned. A provision in Angela Rayner's Renters' Rights Bill, which is just one parliamentary vote away from becoming law, will stop landlords who put their homes on the market from relisting properties as rentals for up to a year if they fail to sell. With as many as a third of house sales falling through, it could leave thousands of potential rental properties locked out of the market. So-called 'Section 21' notices – also known as no-fault evictions – will be banned, and all tenancies will be on a rolling basis with no fixed end date. The Bill will stipulate that landlords can only repossess properties in four circumstances: if they're looking to sell, if they're looking to move in, or if there is redevelopment or if the property is seized by a mortgage lender. Other grounds include if tenants fail to pay the rent on time, although landlords will have to wait longer to evict for this reason. Chris Norris, chief policy officer for the National Residential Landlords Association (NRLA), said: 'Whilst we understand the Government wants to prevent abuse of the new tenancy systems, the country cannot afford to have homes standing empty for months on end. 'Around a third of property sales fall through before completion, mostly as a result of problems faced by the buyer. 'Given the scale of the housing crisis, it cannot be right that homes will be left empty for many months even when landlords are not to blame when a house sale fails to progress.' Nathan Emerson, chief executive of Propertymark, said that the new rules will mean that 'landlords must provide at least four months' notice to a tenant should they need or wish to sell their property. In addition, there will also be an initial 12 months 'protected interval' at the start of any tenancy where a landlord is prevented from evicting a tenant for the purpose of selling. Further to this, should a landlord choose to sell the property in question, they will be restricted from re-letting that property for a period of 12 months after evicting the tenant, should the property not sell'. Mr Emerson added: 'This may in some circumstance cause a degree of property vacancy, in an already pressurised situation where supply is greatly required.' Many of the reforms included in the Bill were first mooted by Michael Gove, the former Conservative housing secretary. But the original legislation said landlords would have to wait three months to relist a property that had been put on the market, rather than a year. Landlords have repeatedly warned that the more stringent rules will push them out of the market, eat into margins and make letting out properties unprofitable. In March, the number of UK properties available for rent hit an all-time low of just 284,000 – 23pc lower than during the pandemic, when the market dried up. Tax credits on mortgage interest for landlords were gradually slashed between 2017 and 2020, down from 40pc for higher-rate taxpayers to a flat rate of 20pc. Interest rates leapt, with buy-to-let mortgages at the sharper end of the increases – squeezing landlord profits even as rents rose. In Rachel Reeves's maiden Budget, an extra 5pc stamp duty surcharge was introduced on additional property purchases. Housing charities said that the delay of a year was necessary in order to stop the backdoor return of 'no-fault' evictions. Ben Twomey, chief executive of Generation Rent, said: 'It's right the Government will outlaw arbitrary Section 21 evictions through the Renters' Rights Bill. This change can't come soon enough. 'If landlords are concerned about a property sitting vacant, they are free to sell with sitting tenants.' A Ministry of Housing, Communities and Local Government spokesman said: 'Our landmark Renters' Rights Bill will bring long overdue fairness to the market by making sure it is unprofitable for landlords to evict a tenant and deprive them of their home, just so they can rent to new tenants at a higher price.'
Yahoo
7 hours ago
- Politics
- Yahoo
Conservatives Turn On GOP Senator Over Plan To Sell Off Millions Of Acres Of Public Land
People across the political spectrum hope Sen. Mike Lee (R-Utah) makes like a tree and leaves national forests — and other federally owned land — alone. Last week, the Lee-led Senate Energy and Natural Resources Committee released a draft proposal, intended for inclusion in the so-called 'One Big Beautiful Bill,' that would mandate the sale of between 2.2 million and 3.3 million acres of public land owned by the Bureau of Land Management and the U.S. Forest Service in the American West. Lee has framed the proposal as a means to increase affordable housing, and emphasized that it excludes national parks, national monuments, and designated wilderness areas from being sold. Critics have expressed skepticism that the bill would do much to mitigate the housing crisis, contending that it would only result in the public being barred from land they now enjoy. 'I don't think it's clear that we would even get substantial housing as a result of this,' Sen. Martin Heinrich (N.M.), the energy committee's ranking Democrat, told the Associated Press. 'What I know would happen is people would lose access to places they know and care about and that drive our Western economies.' Meanwhile, Republican Rep. Ryan Zinke (Mont.) has also spoken out against the plan. 'I have said from day one I would not support a bill that sells public lands,' he wrote Wednesday on X. 'I am still a no on the senate reconciliation bill that sells public lands.' Public backlash really began to grow this week, after The Wilderness Society, a conservation organization, published a map it said showed the areas that could potentially be up for grabs. The proposal only allows for the sale of 3.3 million acres, but it's not clear exactly where that land will come from. The nonprofit identified more than 250 million acres of land it said make up the pool from which the land to be sold could be drawn. The group said it used public data to determine which federal lands would be susceptible to sale, based on the legislation's text as of Monday. Lee called the map 'misleading' and said it included some areas that would be excluded from his bill. Julia Stuble, Wilderness Society Wyoming state director, has defended the map's accuracy, telling Cowboy State Daily that the provision's wording indeed left everything on the group's map open to potential sale. The proposal has drawn condemnation from lawmakers, environmental groups and outdoor enthusiasts of a range of political stripes. Lee drew strong condemnation from many of his fellow conservatives in particular, who have slammed the proposed sell-off as a betrayal of the American people. Lee defended himself in a Saturday episode of Glenn Beck's podcast, blaming the backlash on 'falsehoods being circulated by the left.' The New GOP Platform Has An Alarming Agenda Item Trump's Second-Term Blueprint Would Take A Wrecking Ball To Public Lands JD Vance Made An Eye-Popping Suggestion During The Debate
Yahoo
10 hours ago
- Business
- Yahoo
NEW AFFORDABLE HOUSING UNITS OPEN FOR SENIORS IN SASKATOON THROUGH FEDERAL-PROVINCIAL FUNDING
SASKATOON, SK, June 19, 2025 /CNW/ - Solving Canada's housing crisis requires immediate action to address the urgent needs of Canadians. To provide seniors with increased access to affordable and sustainable housing, the Government of Canada and the Government of Saskatchewan announced today a $990,000 joint investment. The official opening of the Columbian Manor Expansion Phase V, developed by KC Charities, marks a significant step in providing safe, supportive homes for low-income seniors. This project is adding 134 housing units for seniors in Saskatoon, including the development of 30 one-bedroom units, 20 fully accessible units and 10 barrier-free units for low-income seniors with limited mobility. The developer, KC Charities, is a non-profit organization dedicated to providing affordable housing and supportive services for seniors in Saskatoon. Funding provided for this project is as follows: $990,000 in cost-matched funding from the Government of Canada and the Government of Saskatchewan through the National Housing Strategy (NHS) – Saskatchewan Priorities Initiative (SPI) $ 340,000 from the City of Saskatoon $1,750,000 from KC Charities Quotes: "Everyone deserves a home to call their own. Thanks to our partnership with Saskatchewan through the National Housing Strategy, your federal government is helping to make that a reality for more seniors in Saskatoon. Safe, affordable, and accessible senior housing is a key part of our housing plan, making sure no one is left behind." – The Honourable Buckley Belanger, Secretary of State (Rural Development) and Member of Parliament for Desnethé—Missinippi—Churchill River "When we work together with community partners, we can support developments that make a real difference in the lives of Saskatchewan people. The Columbian Manor project provides dignity, comfort, and connection to seniors who have given so much to our communities." – The Honourable Terry Jenson, Minister of Social Services and Minister Responsible for Saskatchewan Housing Corporation (SHC) "The City of Saskatoon is proud to support the expansion of Columbian Manor, which reflects our ongoing commitment to building a more inclusive and caring community. This partnership with KC Charities and other orders of government helps ensure that seniors in Saskatoon have access to safe, affordable housing and the support they need to thrive." - Mayor Cynthia Block, Mayor City of Saskatoon "A place to call home, where comfort meets affordability, and every senior is valued, respected, and cared for." - Norma Denis, Executive Director of Operations, KC Charities Inc Quick facts: The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed. As of March 2025, the federal government has committed $65.84 billion to support the creation of over 166,000 units and the repair of over 322,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence. NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need. All NHS investments delivered by the federal, provincial, and territorial governments will respect the key principles of NHS that support partnerships, people, and communities In 2019, the Government of Canada and the Government of Saskatchewan entered into an agreement through the National Housing Strategy. The Canada-Saskatchewan Bilateral Agreement will invest $585 million over 10 years, which is cost matched between the federal and provincial governments. The Rental Development Program (RDP) provides one-time capital funding in the form of a forgivable loan to assist in the development of affordable rental housing units for households with low incomes. The RDP is funded by Canada Mortgage and Housing Corporation (CMHC) and Saskatchewan Housing Corporation (SHC). KC Charities is a non-profit organization dedicated to providing affordable housing and supportive services for seniors in Saskatoon. Since 2007, it has worked with government and community partners to develop over 150 affordable housing units, helping seniors live independently in a caring and inclusive environment Associated Links: Visit for the most requested Government of Canada housing information. CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X (formerly Twitter), YouTube, LinkedIn, Facebook and Instagram. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed so far. In November 2019, the Government of Saskatchewan released Saskatchewan's Growth Plan: the Next Decade of Growth 2020-2030, which sets out the Government's vision for a province of 1.4 million people by 2030. The Plan identifies principles, goals and actions to ensure Saskatchewan is capturing the opportunities and meeting the challenges of a growing province. To learn more, visit SOURCE Canada Mortgage and Housing Corporation (CMHC) View original content to download multimedia: Sign in to access your portfolio
Daily Telegraph
11 hours ago
- Business
- Daily Telegraph
The 327 Aus postcodes with a median rent of more than $1k a week
It's no secret that Australian tenants are doing it tough, and new data has revealed there are now 327 postcodes across the nation where the median weekly rent is now more than $1000 a week. Across the capital cities, tenants now pay almost $11,000 more than they did five years ago, pushing the median weekly rent for a house to $657 and $585 for units, according to latest PropTrack figures. For those tenants renting in suburbs where the median price is at least $1000 – and in some cases up to $3450 a week – the sky-high rents are reflective of the broader changes experienced across Australia's property market, including general price increases, inflation and shortages in housing supply. Unsurprisingly, many of Australia's most expensive rental suburbs are located in Sydney, with Bellevue Hill, Double Bay and Vaucluse ranking in the top three with weekly rents well above $3000. Another 17 Sydney suburbs have median rents of at least $2000, including in North Bondi, Coogee, Rose Bay and Bronte, while a further 207 NSW localities have median rents over $1000 a week. Queensland followed with 47 locations with median weekly rents over $1000, including Ascot in Brisbane and regional locations including Noosa Heads and Palm Beach. There are also 34 suburbs with median rents of over $1000 recorded for Western Australia, 22 for Victoria and two for the ACT. Meanwhile, Adelaide recorded its first suburb with a median $1000 weekly rent this month. REA Group economist Anne Flaherty said the current growth drivers of rentals across Australia are a lack of supply and surging demand. 'I think it's inevitable that we'll see more $1000 rental suburbs added to the list,' she said. 'It's kind of astonishing, because a lot of the conversations around where rents are sitting are that they couldn't possibly go any higher because people couldn't afford to pay anymore. 'But time and time again, we see that proven wrong and we see more and more suburbs touching the $1000 a week mark.' MORE NEWS Great Aussie dream crushed by cost surge First-home frenzy: Young Aussies locked out Scary reason Aus renters won't move Ms Flaherty said nationally, tenants now pay $10,920 more than they did five years ago. 'They are markets where this figure is even more staggering. In greater Perth, compared to five years ago, people are paying $16,640 more and in Brisbane it's $13,000. Sydney is also $13,000,' she said. 'So what we're seeing (as a result), especially in Sydney, is that the demographic is becoming much older than other states. 'If we look at interstate migration, we see the strongest interstate migration out of NSW into the other states than any other states. So we're seeing more people leaving NSW than coming in and affordability is a big factor there. 'So what we're seeing is that young working people are tending to move to other capital cities, for example Melbourne and Brisbane, where home prices and rents are lower.' Ms Flaherty adds that the only real solution to combat rent costs was building more homes. 'Fundamentally, we need more homes and more rental accommodation,' she said. 'If we can build more homes, then that not just slows down the rate at which home prices grow, but it can also slow the rate at which rents grow.' Meanwhile, a new report provided by property investment advisory, InvestorKit, has revealed the markets under the most pressure based on vacancy rates, supply levels, rental yields, affordability, and long-term demand. MORE NEWS: Where you can buy a house for unit price While rental growth has moderated compared to previous years, regions in Western Australia, South Australia and Queensland continue to lead the country. InvestorKit identified Unley in Adelaide as a standout suburb for future rental growth, with its median house price of $1.4m making renting significantly cheaper than buying, even with anticipated rate cuts. It also highlights Mundaring in Perth, which has seen rents surge 69 per cent over the past four years, combined with persistently low vacancy rates and limited new supply. MORE NEWS Little-known rule could save you $800 Worst celeb tenants exposed 'Unbelievable': Surprise $100k hoarder home find In Brisbane, Loganlea, The Gap, and Wynnum-Manly are tipped to see continued rental growth due to their relative affordability compared to house prices and a lack of new housing supply in these areas. InvestorKit CEO Arjun Paliwal said despite interest rates falling, housing supply was still well below demand, which would keep upward pressure on rents in 2025 and beyond. 'Australia's rental crisis has now entered its fourth year and while there has been some relief, for example, national 'for rent' listings and vacancy rates have improved slightly, both metrics remain significantly below their pre-Covid levels,' Mr Paliwal said. 'This is not a temporary issue. It is a chronic condition driven by long-standing structural problems: a sustained lack of private rental supply, limited diversity in rental options, insufficient social housing, and an ongoing shortfall in new housing supply that cannot be quickly resolved.'
