Sector Focus


Divorces drive property sales


Research by a Birmingham estate agent shows that there has been a surge in the number of couples seeking divorce since the lockdown. Barrows and Forrester say that


figures from Co-op Legal Services show a 42 per cent increase in divorce enquiries between 23 March and mid-May, compared with the same period in 2019. The firm’s managing director,


James Forrester, says that this could result in a £9.3bn boost for property sales. He added that even with Brexit


uncertainty, more than one million property sales transacted in 2019. While this number is likely to be


far lower in 2020 due to the national lockdown, the market could see nearly 40,000 homes entering the market if additional divorces led to the inevitable sale of the family home. This could add around £1bn


worth of transactions in the property market. Mr Forrester said: “Unfortunately,


divorce is an inevitable aspect of modern day life and one that has been exacerbated as a result of a lengthy lockdown at home with our significant other. “It’s also one of three influences


that regularly see properties come to market, along with death and debt, as couples look to divvy up their existing assets in order to move on in life.” “Of course, not all married


couples will own their home and not all of them will opt to sell it on, with some using it as collateral within the divorce proceedings. “However, many will take this route


and with such a notable spike in the number of divorces, it’s very likely we will see a boost in the amount of stock reaching the market, and the value of homes sold.”


Let’s build: construction taking place to expand BCU’s city centre campus


Experts call for delivery of investment-led recovery


West Midlands economic and construction experts have welcomed Boris Johnson’s focus on a demand- led recovery plan as Britain eases out of lockdown, but are calling for more to be done. The comments are from come from regional


economist Dr Steve McCabe and experienced construction professional Mike Leonard, both based at Birmingham City University (BCU), as the prime minister made announced the Government’s much- trumpeted ‘Build, Build, Build’ initiative in Dudley.


‘It’s infinitely better to keep people working than to pay them unemployment benefit of less than £100 a week’


Mr Leonard said: “As we adapt to the ‘new normal’


there is a danger that businesses and people will not spend, resulting in more bankruptcies and job losses, which suck the country into a vortex of decline. What is needed is investment to fuel a demand-led recovery.” Dr McCabe and Mr Leonard have produced their own blueprint for recovery, the ‘Build Back Better: Covid-19


Economy Recovery Plan’, which is a set of recommendations to help stimulate demand for new homes and home improvement, and details on how to build essential infrastructure and train a new generation of skilled workers. Recommendations and observations in the plan


include encouraging smaller house builders, addressing ‘fuel poverty’, providing incentives to consumers to replace old gas boilers, and the building of 30,000 new social houses each year. Dr McCabe said: “There are grave concerns that the


‘Coronavirus Job Retention Scheme’ may fail in its overall intent when, in August, Government to support for 9.3 million people's wages starts to taper off. “It’s infinitely better to keep people working than to


pay them unemployment benefit of less than £100 a week. This will simply cause the economy to remain stagnant for much longer than might otherwise be the case.” The ‘Build Back Better’ report proposes a £11bn


investment in the construction sector with a £22bn return which represents 200 per cent return on investment whist securing jobs and creating skilled employment opportunities in the manufacturing of building materials and construction for up to a million people.


New leisure centre completed on time


Morgan Sindall Construction has handed over a £6.3m leisure centre in Market Rasen, which has been designed and built in just over a year. The project was awarded to the firm by West


Lindsey District Council and the Gainsborough Road facility will be a cornerstone in the local authority’s strategy to improve the health and wellbeing of people in the area. Work to build the 18,300 square foot leisure


began last summer. Morgan Sindall has received praise from local councillors for its safe and efficient delivery of the project, which has taken just over 12 months despite the operational challenges posed by the site and current climate. The two-storey building has windows designed to maximise light and limit heat gain, to reduce


58 CHAMBERLINK August/September 2020


the need for cooling and the building’s carbon footprint. The centre has a 7,400 square foot sports hall and an external 3G all-weather pitch, while gym users will also have access modern changing areas. Morgan Sindall’s Rob Cant said: “The


importance of prioritising health and wellbeing has been reinforced in recent months. People around the country are eager to return to modern, well-designed leisure facilities and gyms as soon as they are able to. Thanks to the council’s investment, and its decision to partner with a leading operator like Everyone Active, the people of Market Rasen will soon have access to a state-of-the-art facility. “This has been a great project to deliver from


start to finish. Working through the framework has facilitated effective early collaboration from everyone involved, enabling us to build the centre safely and without undue delay.” Council leader Councillor Giles McNeill said:


“I am delighted that the new leisure centre has been completed on time and on budget. “Our partnership means that the people of


Market Rasen and the surrounding area will benefit from a first-rate, brand new facility. The building is sited prominently on Gainsborough Road, which is the westerly entrance to the town, and makes an impressive statement about the confidence the district council has in the town as an important area now and for the future.”


Property


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