Gleeson cautions on Your First Home pause
Gleeson anticipates a “weaker” first half, it said today (November 6), as it expressed concern over the long run-up to the government’s equity loan scheme, Your First Home (YFH). Issuing a trading update ahead of its AGM, the housebuilder and strategic land promoter commented that it welcomed YFH and its “significant potential to assist Gleeson’s target demographic of first-time buyers looking to buy a new home at an affordable price”.
Urban Splash to pay £46.5m remediation costs to govt
Urban Splash must pay £46.5 million to the government for building safety remediation following a tribunal decision. The first-tier tribunal judgement on remediation contributions comes after the Ministry of Housing, Communities and Local Government (MHCLG) brought proceedings against the Manchester developer, almost three years ago.
Baker Estates’ Graham Hutton becomes md
Baker Estates has promoted Graham Hutton to managing director. Hutton, the South West SME’s deputy managing director, takes over from founder Ian Baker, who now becomes Baker Estates’ executive director.
Vistry begins downsizing process
Vistry has begun the process of downsizing the business and reducing staff, with managing directors and their teams confirmed and its new structure set to be operational from January. In a trading update covering the period from July 1 2026 to the present day, the partnerships housebuilder said it had “continued to take decisive action to create a smaller, more focused and disciplined business”. This follows its statement on September 24 that it would shrink its regions from 25 to 12 to deal with losses. Today (No
SME new homes delivery hit by viability issues
Nearly all small and medium-sized home builders say viability pressures are reducing their ability to deliver new homes, according to new industry research. And the proportion of SME developers citing cumulative viability pressures as a major barrier to growth has jumped from 64% last year to 82% and is now the second biggest barrier facing the sector following planning delays (88%). Seven in 10 (70%) say these pressures are significantly reducing delivery. The new stats come from the 2026/27 State of Play report from Close Brothers Property Finance, the Home Builders Federation (HBF) and Velux.
Barratt Redrow’s completions down 12%
Barratt Redrow has seen “resilient” trading since its previous year end, although with completions down 12.1% and “stronger demand from the private rental sector”. During the 17-week period from June 29 2026 to October 25 2026, the volume housebuilder’s total home completions, including JVs, were 3,223 against 3,665 homes in the comparable period last year.
Govt publishes Your First Home price caps
The government has published details of local authority price caps for its equity loan scheme, Your First Home (YFH), due to launch in the spring. Following last week’s Budget which revealed further detail of the scheme including income caps and developer contributions, the government has updated its page, listing house price caps for all local authorities in England. These range from £215,000 for North Lincolnshire to £650,000 for inner London boroughs. The government’s Budget document last week confirmed this cap for the latter and £500,000 for outer London councils as shown in the update today (November 3).
Product manufacturers to contribute to building safety under Remediation Bill
Construction product manufacturers will be forced to contribute to fixing residential buildings for building safety, with the government potentially gaining powers through upcoming legislation. The power to compel product manufacturers was proposed during the second reading of the Remediation of Unsafe Cladding Bill in the House of Commons. The Bill, introduced to parliament on October 16, is part of the government’s “mission to fix the building safety crisis”.
Industry reacts to Healey’s first Budget
The industry has largely welcomed housing measures in the Budget, while expressing some caution. The chancellor John Healey announced further details of the equity loan scheme, Your First Home (FYH), including income caps and developer contributions to the scheme. But further information, including on house price caps, is to come.
Your First Home to launch in spring
The government’s new equity loan scheme, Your First Home (YFH), will be launched in the spring, the chancellor John Healey has announced. Delivering the government’s Budget today (October 28), Healey also said YFH, a 20% equity loan scheme for first-time buyers, would be supported by £4.7 billion of government-backed loans. This will support the delivery of an estimated 20,000 new homes.
