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'Pattern book' house plans could be approved in 10 days

'Pattern book' house plans could be approved in 10 days

Yahooa day ago
New homes picked from pre-approved designs could be ticked off for construction in 10 days in another bid to accelerate house building in Australia's most expensive market.
In what the the NSW government has called its "pattern book" of low-rise designs, eight terrace, townhouse and manor house plans are available and will be heavily subsidised to encourage market activity.
It will give people that have been locked out of housing due to rising costs and a planning system that made it too difficult to build homes the chance to live in communities, the government said.
Premier Chris Minns has previously declared war on red tape and blamed a sluggish planning system for his state's poor progress on nationally-agreed housing targets.
NSW is committed to building 377,000 new homes by July 2029 but data has consistently shown it is on track to fall well short.
Master Builders Australia data released in 2024 found the state would come closer to building 300,000 in that timeframe.
"For too long, too many people in NSW have been locked out of the housing market by rising costs and a system that made it too hard to build - we're changing that," the premier said.
"This Pattern Book is about giving people more choice, faster approvals, and affordable, high-quality homes – whether you're a young person trying to get in, a family needing more space, or a downsizer looking to stay close to the community you know."
Planning Minister Paul Scully said the pattern book took the guesswork and delay out of home building, with the pre-approved designs "cost-effective" and "high-quality".
The designs will be available for $1000, but heavy government subsidies mean they will cost just $1 per pattern for the first six months.
The government estimated the designs would typically cost upwards of $20,000 if developed through an architect.Committee for Sydney planning policy manager Estelle Grech said the plans were proof density can be "both beautiful and attainable".
"It isn't an abstract rezoning. It's practical, design-led guidance that shows how you can get more bang from your block, build beautiful homes and help solve Sydney's housing crisis," she said.
"While these designs may not appear everywhere overnight and are more likely to be a slow burn, they set a strong benchmark for what's possible when it comes to low-rise development."
A NSW Productivity and Equality Commission report released in 2024 made several recommendations to boost housing supply, including zoning well-located areas for higher density and cutting apartment design requirements.
One of the government's signature planning policies involves the blanket rezoning of land around metro stations and existing transport hubs for higher-density housing.
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Steel Rebar Market worth $268.4 billion by 2030 - Exclusive Report by MarketsandMarkets™
Steel Rebar Market worth $268.4 billion by 2030 - Exclusive Report by MarketsandMarkets™

Yahoo

time12 minutes ago

  • Yahoo

Steel Rebar Market worth $268.4 billion by 2030 - Exclusive Report by MarketsandMarkets™

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Steel rebars are essential in construction projects such as buildings, bridges, highways, and industrial structures, ensuring durability, structural integrity, and resistance to cracking, bending, and environmental stress over time. Browse in-depth TOC on "Steel Rebar Market"200 - Tables60 - Figures260 - Pages Download PDF Brochure: By end-use sector, the infrastructure segment accounted for the largest market share in 2024. The infrastructure segment accounted for the largest share of the steel rebar market in 2024, based on end-use. This dominance is mainly driven by ongoing and planned investments in major infrastructure projects across both developed and emerging economies. The demand for steel rebars has become nearly essential worldwide, especially as infrastructure development and upgrades are top priorities for most governments, focusing on building highways, bridges, railroad lines, metros, tunnels, airports, and seaports. 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Italy's Flat Tax Is Quietly Reshaping  Its Real Estate Market
Italy's Flat Tax Is Quietly Reshaping  Its Real Estate Market

Forbes

time15 minutes ago

  • Forbes

Italy's Flat Tax Is Quietly Reshaping Its Real Estate Market

Aerial photo shooting with drone on Milan Center, the central business area of the city with new ... More skyscrapers and iconic Cathedral and square of Duomo While tax reform debates in the UK and the US continue to make headlines, one of the most consequential developments of the past years has played out more quietly – in Italy. The country's flat tax regime, first introduced in 2017 and increased to €200,000 in 2024, is rapidly repositioning Italy as a destination of choice for high-net-worth individuals (HNWIs). And the impact is now increasingly visible in the real estate and construction sectors. Globally, we are seeing record levels of wealth migration. 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Average London rent surges to £2,252 a month
Average London rent surges to £2,252 a month

Yahoo

time41 minutes ago

  • Yahoo

Average London rent surges to £2,252 a month

The average UK monthly private rent rose to £1,344 in the 12 months to June, but in London, tenants are paying an average of £2,252, the highest in the country. Figures released by the Office for National Statistics (ONS) showed monthly rents in the private sector rose 6.7% or £84 to £1,344 over the 12-month period. This marks a modest slowdown from May's annual growth rate of 7% and a further retreat from the 9.2% peak recorded in November last year. London remained the most expensive region for renters, with monthly rents reaching £2,252, the highest in the UK. At the opposite end of the scale, the North East recorded the lowest average rent, at £ 734. The disparity was even more pronounced at the local authority level — in June, tenants in Kensington and Chelsea paid an average of £3,616 per month, while those in Dumfries and Galloway paid just £521. Read more: First-time buyers on £30k salary now able to apply for mortgage England saw average rents rise to £1,399 in June, a 6.7% annual increase, or £88 more than the previous year. Though still high, this marks a slowdown from the 7.1% rise in May. Regional differences were stark. The North East posted the fastest rental growth in England, with a 9.7% year-on-year increase, while Yorkshire and the Humber saw the slowest growth at 3.5%. In Wales, average rents climbed 8.2% to £804, below the 9.9% high of November 2023. Scotland's rental growth was more subdued, rising 4.4% to an average of £999. Northern Ireland recorded a 7.6% increase in April — the latest ONS data available for the region — bringing average rents to £852. Northern Ireland's annual inflation rate has generally been slowing since the record-high annual rise of 9.9% in April 2024. Outside the capital, the highest local average rent in June was in St Albans in the East of England, at £1,869. Rents also varied significantly by property type and size. Detached homes attracted the highest average monthly rent at £1,533, while flats and maisonettes were the most affordable, at £1,318. Properties with four or more bedrooms commanded the highest rents overall at £2,007, compared with £1,091 for one-bedroom homes. The rise in rental prices was parallel to the rise in house prices. The average UK house price increased by 3.9% in the year to May to £269,000, with the annual growth rate rising from 3.6% in April. Average house prices increased to £290,000 in England (3.4% annual growth rate), £210,000 in Wales (5.1%), and £192,000 in Scotland (6.4%) over the 12 months to May. Richard Donnell, executive director of research at Zoopla, said: 'Lower, single digit house price inflation is positive for the market as there is just enough price growth to encourage sellers to list their homes and buyers to make offers on property without the fear that prices may fall or suddenly surge higher. 'We expect price inflation to remain low as there are the most homes for sale in seven years, averaging 37 per estate agent.' Separate data from estate agent Foxtons revealed that London's lettings market saw a rise in supply and increased renter activity. Average weekly rent was up 1% from May to £593, higher than in June 2024. Applicant registrations increased by 21% month-on-month, just 4% below last year's level. Read more: Major lenders offer better sub-4% mortgages amid mini price war Central London saw registrations rise by 4% compared to June 2024, and the North was up 5%. The East dropped 6%, while the South and West were down 15% and 22% year-on-year. The number of new property listings reached almost 45,000 in June, marking an 18% rise from May and the strongest supply in four years. Listings were 13% higher than last year in the first half of 2025. They increased 1% from May to stand at £593 per week, ahead of June 2024. Gareth Atkins, managing director of Lettings, said: 'The London lettings market showed strong signs of stability in June, with applicant numbers rising 21% from May and new listings at their strongest level in four years. This increase in supply is helping to ease pressure on renters, as seasonal demand increases, and with more applicants in the market, good landlords will see strong demand across the capital. "As we move into the summer, we expect this healthy balance between supply and demand to continue, offering more choice for renters and a stable and predictable environment for London's landlords.' Read more: How school fees can affect your mortgage borrowing The pros and cons of getting a mortgage into your 70s How to choose where to live as you get older

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