Week commencing 24 September 2018

In today's bulletin

• No-deal planning information published by the Department for Transport
• Salary needed for first-time buyers reaches £53,000

• Mayor announces new fund to tackle air pollution in London
• Private sector growth slows, says CBI

Property, Planning and Regeneration

Salary needed for first-time buyers reaches £53,000

Hometrack’s UK Cities House Price Index, released on 27 September, shows that the minimum income needed by first-time buyers has reached an average of £53,000. This figure has increased by 18 per cent from three years ago and represents the average needed to buy a home in one of the UK’s 20 largest cities.
Liverpool has the lowest average salary requirement at £25,000, while first-time buyers in London need an average salary of £82,000.

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New home growth strong in London, says NHBC

The number of new homes registered in London between June and August this year has risen to 42,546, new figures from the National House-Building Council (NHBC) published on 27 September show, representing an 11 per cent increase on the same period in 2017.
New home growth was also up nationwide, with the number of new homes registered in August 2018 up 1 per cent on the same month last year.

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Annual house price growth slows in August, Nationwide figures show

Annual house price growth softened in August to two per cent, down from 2.5 per cent in July, according to Nationwide’s latest House Price Index.
The 0.5 per cent decline is the biggest monthly fall since January this year.

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Transport

No-deal planning information published by the Department for Transport

A series of technical notices which set out plans to be put into place if the UK leaves the European Union without a deal have been published by the Department for Transport.
The notices consider the potential impact a no-deal scenario would have on areas of transport policy, including haulage and travelling to and from Europe.

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Ten cities shortlisted for major transport funding across England

Ten UK cities have been shortlisted for government funding in a bid to improve transport links, Prime Minister, the Rt Hon Theresa May MP has said.
The shortlist marks the next stage of the £1.7 billion Transforming Cities Fund which will see local authorities bidding for a share of the funding.

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Funding offered to businesses to reduce rail sector’s carbon footprint

Businesses are being offered a share of £3.5 million to demonstrate new initiatives that can help reduce the carbon footprint of the rail sector. Innovative UK, which is running the competition on behalf of the Department for Transport, is looking for innovations that are ready to be tested.
Funding is being provided for integration and testing. Projects must reduce carbon emissions and costs by 50 per cent, while also improving customer experience.

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Energy and Environment

Mayor announces new fund to tackle air pollution in London

The Mayor of London, Sadiq Khan, has announced a new £6 million fund to help reduce air pollution in the capital’s worst affected boroughs.
The fund was opened for bids from boroughs on Thursday 27 September and will be used in part to establish four new Low Emission Neighbourhoods, cut emissions from construction machinery and create car-free and low-emission streets.

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Single-use plastics to be replaced in Houses of Parliament

Parliament has announced a new range of combustible products for use in both houses, as it aims to eliminate single-use avoidable plastics by 2019.
The plant-based products include cutlery, coffee cups and lids, food containers and drinking straws. The items will be sent to a specialist waste facility once used.

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Other News

Private sector growth slows, says CBI

UK private sector growth has slowed in the three months to September, according to the Confederation of British Industry’s (CBI) growth indicator published on 28 September.
Despite steady retail sales, weaker growth in wholesaling, motor trades, manufacturing and business and professional services drove growth down.

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UK export growth falls for sixth consecutive quarter

In its September European Export Index, accountants and business advisers BDO LLP reported that UK export growth has fallen for the sixth consecutive quarter, to its lowest level since the second quarter of 2016 when the UK voted to leave the European Union.
The UK’s Export Growth Index fell to 95.6 in the third quarter of 2018, from 97.6 the previous quarter.

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