Latest news with #CrestNicholson
BBC News
18-07-2025
- General
- BBC News
Housing plans lodged for safeguarded land in Wombwell
An outline planning application has been submitted for a housing development on safeguarded land in previously criticised the scheme proposed for land south of Pit Lane, saying it would mean losing valued green space and negatively affect wildlife and Crest Nicholson said the project would deliver "much-needed" family homes and high-quality accommodation for a range of councillors Brenda Eastwood, Robert Frost and James Higginbottom said in a joint statement that they felt safeguarded sites should not be brought forward during the current Local Plan period. The Local Plan examines how a town or city will develop over the next 15 years, with land allocated for housing, industry or green to Barnsley Metropolitan Council's Local Plan, 21,546 new homes need to be built by 2033, of which 1,370 are to be developed within the Wombwell the application, developers said: "The scheme would provide a number of economic, social and environmental benefits which all contribute towards achieving sustainable development, in accordance with local and national planning policies."The majority of the site off Pit Lane is designated to be protected from development until 2033, the Wombwell councillors a joint statement issued to the BBC, they said: "Developing safeguarded sites during the lifetime of the current Local Plan risks undermining the Local Plan as a whole."Residents in the consultation area will now have their opportunity to take part in the consultation exercise and we would strongly encourage everyone to have their say." The land, which is currently used for farming and is located opposite ancient woodland, frequently attracts living in nearby Windmill Road and Windmill Court previously told the BBC that they feared the scheme would devalue their homes, worsen traffic conditions and negatively affect local many acknowledged the need for more houses, they felt more suitable options were available in the documents submitted with the application, developers evidenced that the council was unable to demonstrate a five-year housing land supply. 'Thorough assessment' Councils are required to plan for enough new homes to meet housing needs over the Local Plan having a five-year housing land supply tilts the planning decision-making process in favour of approving developments, even if a proposal is in conflict with Local Plan local authority did not comment on this when it issued the following statement on behalf of Robin Franklin, cabinet spokesperson for regeneration and said: "We acknowledge receipt of the planning application for land off Pit Lane, which is currently undergoing public consultation."The council will undertake a thorough assessment of the material planning considerations, taking into account all consultation responses and representations submitted during the consultation period."A spokesperson for Crest Nicholson said: "The development aims to deliver much-needed family homes to the area, along with new public open space and sustainable pedestrian and cycle connections."Improvements to local infrastructure are being considered as part of the planning process."Feedback from local stakeholders and residents has also been sought prior to the application's submission." Listen to highlights from South Yorkshire on BBC Sounds, catch up with the latest episode of Look North
BBC News
17-06-2025
- Business
- BBC News
Up to 160 homes could be built near Hinkley Point C
Up to 160 new homes could be built near a nuclear power Homes initially proposed the homes in the village of Cannington, Somerset, a few miles from Hinkley Point C, in plans for the same number of properties have now come forward, with Somerset Council expected to make a decision on the proposal later in the proposed development would lie on the eastern side of the Cannington bypass, the Local Democracy Reporting Service reports. Almost a third of the 160 new homes planned would be affordable, with properties ranging from one-bedroom flats to four-bedroom would be from an existing spur off Brymore Way, with the development linking up to the cycle lines which run along the road towards the A39. A spokesman for Pegasus Planning, which represents the applicant, said: "During the construction period, the proposals are anticipated to support the employment of 496 people through direct and indirect jobs."Cannington has seen growing interest from housing developers since construction began at the Hinkley Point C site, with thousands of new workers seeking accommodation in and around Nicholson South West recently finished 73 homes at the Grange Meadow development on the edge of the council will make a final decision on the Strongvox proposals before the end of the year.
The Independent
12-06-2025
- Business
- The Independent
Housing market recovering but ‘long way from buoyant', housebuilder says
Falling mortgage rates and wage rises are helping the housing market to recover, housebuilder Crest Nicholson has said as it revealed its profits tripled in recent months. The Surrey-based company nonetheless said it sold fewer homes over the first half of its financial year. Chief executive Martyn Clark said while conditions in the broader global economy are uncertain, there are some 'encouraging signs emerging in the UK housing sector'. He added: 'We remain mindful of volatility in the macroeconomic backdrop, which continues to impact consumers through concerns around affordability and job security. 'However, the market is now starting to benefit from increased lender support and better mortgage affordability as the interest rate environment starts to ease.' Wage growth is also making home buying more affordable for people, he said. 'However, we remain a long way from a buoyant market,' Mr Clark added. Crest's pre-tax profit jumped to £7.9 million in the six months to the end of April, from £2.6 million the year before. The total number of completed sales fell to 739 from 788 the prior year – which it said was down to it deliberately doing less 'bulk' housing sales, instead focusing on the 'mid premium' market. Average selling prices also dipped to £342,000, from £349,000 last year, which reflected the company selling a higher proportion of affordable homes. Cheaper mortgage deals have been entering the market since UK interest rates started being cut last year. Estate agents and lenders also reported a surge in activity ahead of April, when stamp duty relief became less generous for buyers. Furthermore, Crest said the Government's efforts to reform the planning system to reduce bottlenecks and reintroducing house building targets were slowly but surely leading to improvements in the market. On Wednesday, Chancellor Rachel Reeves announced she was allocating £39 billion to social and affordable homes over the next decade.
Daily Mail
12-06-2025
- Business
- Daily Mail
Crest Nicholson profits triple as housing market shows signs of recovery
Profits at Crest Nicholson more than tripled in the last six months as lower mortgage rates and improved consumer confidence boosted the UK housing market. Crest reported an adjusted pre-tax profit of £7.9million for the six months ending 30 April, up from £2.6million a year ago. On a statutory basis, the housebuilder swung to a £9.4million profit after posting losses of £30.9million last year. On Wednesday, Chancellor Rachel Reeves announced an additional £10billion investment in the housing sector, which came on top of a £39billion 10-year programme announced earlier in the week. A greater share of Crest's new build sales during the quarter were 'affordable' homes, driving revenues down slightly to £249.5million. Home completions also slipped to 739, against 788 at the same point a year ago. The total weighted average selling price of properties across the group was £342,000, down from £349,000 by the same point a year ago. On lower average selling prices, the group said: 'The reduction reflected a higher proportion of affordable units in the overall mix. Open market private ASPs increased modestly to £422,000 (HY24: £421,000).' On 20 March, the group said it had launched a 'business transformation programme', which has led to some redundancies. Martyn Clark, chief executive of Crest, said: 'The housing market continues to show signs of stabilisation with an incrementally easing planning system, improving affordability and strong support from lenders. 'Customer appetite for the mid premium segment of the market, which is characterised by high-quality, well-designed homes in sought-after locations, and which is our focus segment remains robust.' He added: 'This places Crest Nicholson in a strong position to navigate the market with confidence and clarity of purpose, as we progress towards the delivery of our 2029 targets and with it, attractive and sustained value creation.' Last year, Crest Nicholson set aside £132million for fire safety work but is now clawing back some of that cash from supply chain firms with £11.8million recovered during the period. The group maintained its annual guidance. Clark said: 'I remain confident that with our experienced management team and dedicated workforce, we are well positioned to benefit as the market improves, reshape the business for long-term success.' In June 2024, the group unveiled its first profit warning in a twelve month period. Crest Nicholson shares rose 1.06 per cent or 2 per cent to 191.30p on Thursday, having fallen around 20 per cent in the last year. Adam Vettese, an analyst at eToro, said: 'Crest Nicholson's half-year report showcases a strong rebound amid a tentative UK housing market recovery. '[With] signs that the housing market could be set to stabilise and potentially improve into the second half of the year, some investors may see the current price to book ratio an attractive prospect, although the dividend remains modest.' He added: 'Net debt has climbed and there are still fire remediation concerns to address, which Crest Nicholson will have to navigate carefully. 'Despite this, shares have opened positively this morning and shareholders will be hoping this can be a platform to recover levels seen last year some 30 per cent higher.'
Reuters
12-06-2025
- Business
- Reuters
Crest Nicholson's half-year profit soars as domestic housing demand firms
June 12 (Reuters) - UK Housebuilder Crest Nicholson's (CRST.L), opens new tab adjusted pre-tax profit more than tripled in the first half of the year, it reported on Thursday, as rising consumer confidence and declining mortgage rates boosted demand in the domestic housing market. Britain's near four-year high unemployment rate in the three months to April has raised hopes for another round of interest rate cuts by the Bank of England, which analysts say will lead to lower mortgage rates and better affordability in the UK housing market. "The housing market continues to show signs of stabilisation with an incrementally easing planning system, improving affordability and strong support from lenders," CEO Martyn Clark said in a statement. Crest reported adjusted pre-tax profit of 7.9 million pounds ($10.71 million) for the six months ended April 30, up from 2.6 million pounds a year ago. On Wednesday, British finance minister Rachel Reeves announced an additional 10 billion pound investment in the housing sector, which came on top of a 39 billion-pound 10-year programme announced earlier in the week. ($1 = 0.7376 pounds)
