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The important role SMEs have in revitalising the Thames Valley
It is well known that the pace of new building has not been keeping up with the rate of household creation in this country. However, what is not as widely publicised is the extent to which the housebuilding industry has been striving to close this gap, writes Richard Burt, NatWest director of real estate finance, Cotswolds & Thames Valley
Private sector housebuilding in England has achieved robust growth in recent years, with 111,000 new homes completed in 2015, 20% more than were completed in the year before that. The trend is set to continue, with 119,000 homes started in the year, an increase of 83% since the depth of the recession in 2009. The picture is mirrored across the UK as a whole with the latest available figures showing an annual net addition of over 170,000 homes to the housing stock, a year-on-year increase of 25%.
The major housebuilders have played a huge part in this growth, with the five largest firms completing over 55,000 homes between them in the past year. However, if the country is going to get close to achieving the 220- 250,000 new homes required each year, SME builders will also have a vital part to play. Smaller firms are often better placed to build on smaller sites that may not be economic for the larger housebuilders as well as being able to deliver niche products that require specialist skill sets. Yet there were 46% fewer housebuilders registered with NHBC in 2015 than there were in 2005.
If the industry is to continue to close the gap between household creation and housebuilding, SME builders who wish to do so need to be given appropriate support to expand their businesses and increase their capacity. NatWest is committed to the industry and already supports the building of around 20,000 new homes each year, a majority of which are built by SMEs.
In the Thames Valley, we work closely with the leading local and regional developers. It is very rewarding to see how often
THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2016
their schemes can literally transform and enhance the local area, both in terms of building quality new homes for people to live in, as well as creating long-term employment. Often this requires great care and an innovative approach to the planning process, alongside the wider regeneration considerations. We are consistently impressed by our clients’ vision and what they can create. As their funder, it’s incredibly gratifying to be part of the process.
NatWest has a long and strong working relationship with the Berkshire-based private developer Rivar, which specialises in developments with a high architectural design content. We enjoy our role of trusted business partner and have always been impressed with its professionalism, quality of build and end-product which can be seen in the high demand for its finished homes.
Currently we are working with Rivar to deliver 35 homes across a number of locations throughout the Thames Valley and are exploring ways of helping it deliver its goals and achieve its strategic plans. “During our long and productive relationship with NatWest, we have always found them to be approachable and supportive, especially when the funding and lending landscape was generally less than positive,” Jamie Bull, managing director of Rivar told us. “Their flexibility and the willingness of the team to adapt to changing circumstances provides a welcome difference.”
As well as improving the lives of those who live in them, new homes create jobs, support businesses and encourage further commercial development across the local economy. The
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Home Builders Federation (HBF) estimates that each new house built supports more than four new jobs. In the longer-term, desirable and affordable new homes help to drive regeneration, attract investment and improve the built environment for the benefit of all residents. NatWest is proud to support the housebuilding industry in its vital work.
NatWest is sponsoring the inaugural Regeneration Project of the Year Award at the 2016 Thames Valley Property Awards. This award recognises innovative uses of brownfield sites for small schemes or large- scale town or city regeneration projects that have helped revitalise particular areas for the people who live and work there.
Details: Richard Burt 07776-452843
richard.burt@natwest.com
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