With the likely collapse of construction giant Carillion, we asked Tom Soane, MD of Pink Street for his view in this week’s Tom’s Take.
The construction industry will suffer which could mean less new property developments in the near future and existing developments could be delayed. Large house-builders will have to cover the cost of completing Carillion’s unfinished work. Then there’s the smaller companies and sub-contractors that will be left without work.
This will mean property development projects either won’t be completed or will take a lot longer to complete. It all depends on whether these firms get the money owed to them by Carillion fast enough but I doubt it will be a quick process unless the government step in… which they won’t. I don’t think it’s a long-term issue but it certainly will be some short-term suffering for a lot of innocent companies and contractors who have just been getting on with their jobs.
I would also like to spare a thought for people who may be affected by the pensions. It’s not funny at all when people pay into a pension scheme throughout their working life only to have it threatened by inept management.
PEOPLE in Portsmouth are being asked for their views on major investments for the city including new flood defences, secondary school places and road layouts.
Portsmouth City Council wants people to have their say before it announces its next overall budget for the 2018/19 financial year.
The focus is on big, one-off schemes and the council wants to know how important people think they are.
Last year the council allocated £16.5 million to these projects.
People are also being consulted on spending on day-to-day services, including rubbish collections, libraries and care for children and older people.
Councillor Donna Jones, council leader, said: ‘Getting feedback from local people through the annual budget consultation is really important, and we want to hear from as many residents and businesses as possible.
‘We want to know where they think the council should be spending, and where it should be saving.
‘We need to make sure we’re investing in Portsmouth’s future, whether that’s by making sure homes and businesses are protected from flooding, or by providing enough school places for our children.’
To have your say search ‘budget consultation’ at portsmouth.gov.uk and complete an online survey.
You can also get a paper copy from the main reception at the civic offices, a library or housing office, by calling 02392 688073.
Go to the council’s website to find out more about upcoming neighbourhood forums.
Source - Portsmouth News
The Great South Run, takes place over a 10 mile (16 kilometer) course through the streets of Portsmouth, passing landmarks such as HMS Victory and the Spinnaker Tower.
The course is almost flat, with minimal slopes around the course, helping make fast times achievable.
The Great South Run will be held in Portsmouth on Sunday 22nd October 2017 and the 5K race will be held on Saturday 21st October 2017.
Entry for both events is now open, follow this link, to register for the Great South Run 2017 use this link. Around 25,000 runners will take part in this highly popular run, raising £ millions for a wide range of charities.
The first event, the elite womens race starts at 10:15, the whole city will be very busy, therefore the race organisers advise you should plan to arrive by 08:30 to ensure you are able to access the start area at the correct time.
The 10 mile course is fairly flat and offers a wide range of views and historic sites along the way, such as HMS Warrior, HMS Victory and the Spinnaker Tower.
Along with the thousands of fun runners, club athletes and charity teams, will be a mix of celebrities and elite athletes from around the world.
Every year thousands of fun runners, joggers, locals, celebrities and charity runners take part in the race, raising £millions for their chosen good causes. It is estimated that more than £30 million has been raised for charities by runners in the Great South Run, since it's start in 1990.
Source - Welcome to Portsmouth
More than 75 per cent of people in the Portsmouth area asked to estimate the deposit needed to buy a £250,000 new home massively overestimated how much was needed. Using the government’s Help to Buy scheme, buyers need just £12,500 for the deposit but a survey by housebuilder Barratt Homes reveals that more than 75 per cent questioned believed they would have to save at least £15,000. More than 30 per cent believed they would need to save between £25,000 and £30,000, more than double the real amount.
Adam Champion from mortgage company The New Homes Group said the figures are in line with buyers’ expectations. ‘Most people think you need at least a 10 per cent deposit on a new home when we start talking to them and are pleasantly surprised by the true figure of just five per cent,’ he said. Barratt Homes sales director Michelle Storer said the figures should be welcomed by anyone considering buying a new home.“Historically-low interest rates, together with Help to Buy and a wealth of mortgage options available at the moment, make now an excellent time to buy,” she said.
“Despite some uncertainty over Brexit the new homes market is extremely busy and the more people know about the low deposits the more people can move into their dream home.”
The survey also highlighted awareness of low deposits in the different age groups. Although everyone asked overestimated the amount needed, the amount estimated rose with age.
Those between 18-24 years old believed they would need to save an average of £19,000 for a deposit while the over-55s guessed a deposit would cost in excess of £23,000.
“Schemes such as Help to Buy are available to all ages but it is mainly first time buyers who have benefitted from the help so it is good to see the younger people are closer to the right figure,” said Michelle.
Source - Portsmouth News
A HOUSING association is highlighting the contribution supported housing makes to Portsmouth as part of Starts at Home day.
The Church of England Soldiers’, Sailors’ & Airmen’s Housing Association (CESSA) is highlighting the campaignrun by the National Housing Federation.
Housing associations provide a range of services including sheltered accommodation, refuges for domestic violence victims, homelessness shelters and housing for those with disabilities.
CESSA has said uncertainty surrounds the future funding of supported housing.
The National Housing Federation and its members are campaigning to persuade the government to commit to ensuring that every person who needs extra support has a home that meets their needs.
Representatives from CESSA met with Portsmouth South MP Stephen Morgan, asking him to champion the cause in Parliament.
Patrick Keefe, chief executive at CESSA, said: ‘We call on the government and MPs to note the Easter report by the cross-party Parliamentary Work and Pensions Committee inquiry on supported housing. They agreed the local housing allowance is inappropriate to use as a cap on benefits and urged government to consider a new supported housing allowance, with a system of bandings for different types of provision and a cap within each band. ‘We need to ensure supported housing can continue to be provided where it is needed.’
Source - Portsmouth News
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