| The mismatch of supply and demand within the housing market gave rise to another set of soaring price statistics this week, this time from Rightmove.
With Britain's housing market booming, demand continues to outstrip supply, with average house prices hitting a new record high in April. The South West has seen England's largest increase in the cost of homes, where the number of properties available has dropped by 39% compared to last year. The data from the property website revealed the top hotspots in Britain for asking prices and competition, which we included in full here.
Within the most interesting planning developments of the week, fresh plans emerged to transform the historic yet run-down Birmingham city centre building Methodist Central Hall. Irish developer Oakmount and sister leisure firm Creative Cedar are behind the project, having bought Methodist Central Hall in Corporation Street in a bid to create a mixed-use scheme led by a new hotel with up to 155 bedrooms. They also want to add a three-storey roof extension to house a restaurant and bar, create new commercial and business units, restore the auditorium and build an event space and nightclub in the basement. Read more on that story here.
Meanwhile in Devon, revised plans for a destination spa hotel and high-end residential scheme as part of a major redevelopment of a marina have been approved. Developer Premier Marinas is transforming the former Philip & Son boat building yard at Noss on the River Dart, near Kingswear opposite Dartmouth, which you can read about here. |
