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Andrew_Nunn_April_2017online

This month, the ONS has started to promote a new inflation statistic, CPIH, which includes a measure of housing costs and council tax. This was also measured as growing at a rate of 2.3% in February. With Sainsbury’s recent acquisition of the freehold of the site where the supermarket and car park is based, It is not yet known how any development would affect the car-park. The site runs from the back of the Empire House development to the railway line and includes both the supermarket site and car park - the latter is subject to a covenant with Hounslow Council but only in relation to charges for parking. It is understood that Sainsbury’s do not believe that the covenant would prevent them developing the site. www.andrewnunnassociates.co.uk Inflation Watch Postage prices rise again! From 53p per letter from the end of March 2017 this rises to 57p per letter – that’s a 7.5% increase. The BBC reported this month that UK inflation, as measured by the Office for National Statistics’ Consumer Prices Index, jumped to 2.3% in February - up from 1.8% in January. The rate is the highest since September 2013 and above the 2% target the Bank of England is charged with keeping inflation at. The Bank of England has said it expects inflation will peak at 2.8% next year. The report also quoted that many economists thought inflation could rise above 3%. Hounslow Council To Market Site It has been reported locally that Hounslow Council seems to be working with Sainsbury’s to try help redevelop the site surrounding the supermarket and is seeking investors at international property conference MIPIM in Cannes. Pocket Homes 112 unit scheme Pocket Homes specialise in affordable properties and have been granted planning permission by Ealing Council to develop a site on Bollo Lane into a fourteen-storey block of apartments, the site will take over from G&R Removals, who specialise in piano removals and storage and are relocating. Pocket sought full planning permission to develop the site with 112 units. The plan is for 91 one-bed, 11 twobed and 10 three-bed flats. The plan contains a roof level amenity space, and 2,760 square metres of offices on the ground floor. There are nineteen parking spaces applied for. Pocket say that three-quarters of the homes will be ‘affordable intermediate’ homes. They will be sold at a discount on the local going rate and can only be sold with a similar discount to future purchasers. The company say they are able to offer homes at cheaper rates partly because they build smaller flats with a clever use of space. They say local people will be given a priority. Resale is restricted to buyers who fall within the income criteria. The average purchaser of a Pocket unit is on a yearly salary of £40,000- £50,000 according to the company.


Andrew_Nunn_April_2017online
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