Daily News: 03/07/2025
S&P Global Ratings has downgraded Peabody Trust’s long-term issuer credit rating from ‘A-‘ to ‘BBB+’, citing financial pressures. However, the outlook remains stable, indicating no immediate risk of further downgrade. Peabody Trust
Norwich City Council will shut down its housing firm, Lion Homes, following £5m in losses blamed on market and economic conditions. In contrast, Southend Council is launching a £100m five-year plan to tackle its local housing crisis. BBC, Echo
The UK government has outlined an ambitious 10-year plan to significantly boost the supply, safety, and quality of social and affordable housing, with a focus on the largest increase in supply in a generation. A consultation is also underway to revise the Decent Homes Standard, ensuring registered providers meet updated quality benchmarks. The government has reaffirmed its commitment to expanding secure housing access through reforms to the Right to Buy scheme and confirmed a 10-year rent settlement for social housing from April 2026, with annual increases capped at CPI +1%. Meanwhile, the Housing Ombudsman anticipates 43,000 cases this year as it launches its 2025-30 strategy. GOV.UK, GOV.UK, GOV.UK, GOV.UK, and Housing Ombudsman Service
Bidding is set to begin for Procure Partnerships’ £1.8bn third-generation North West contractor framework. At the same time, the Greater Manchester Housing First Partnership has secured a new four-year contract to continue housing and rough sleeper support in the region. Construction Enquirer, Housing Digital
Homes England has provided an £8m loan to Greencore Homes to support affordable, sustainable housing in Oxfordshire, backing its goal to build 10,000 net zero-plus homes by 2035. GOV.UK
Svella has completed a £12m acquisition of Carlisle-based Cubby Construction to build a major regional contractor, while Bellrock has acquired Summers-Inman to expand its construction and property consultancy services. Construction Enquirer, The Construction Index
The government has launched a Council Housebuilding Skills and Capacity Programme to support local authority-led development, and a consultation is open on new MEES to ensure all socially rented homes reach EPC Band C by 2030. GOV.UK, GOV.UK
Persimmon is advancing plans for a 720-home scheme on an 81-acre site in Morton, Carlisle. In Derby, a proposal for 300 homes in Littleover has sparked community opposition. Elsewhere, a 220-home plan in Stanton, Suffolk, is up for decision this month, and in Canterbury, former city council offices may be redeveloped into 125 homes, potentially boosting council revenue. Place North West, Derbyshire Times, Bury Mercury, and Kent Online