Short: Construction Group Galliford Try win bid to build Whitelee Wind Farm Project run by Scottish Power at Eaglesham More near Glasgow.

The project is expected to take up to three years to complete.

Source

Footfalls

Pan Peninsula Development - Docklands - Homzz.net

Irish property developers Ballymour, served up a record not yet seen in the London Docklands development zone. Their Pan Peninsula development comprising two towers of residential apartments has been sold out, according to the company off-plan.

Whilst the firm did not clarify whether the majority of sales came from private buyers or corporate investors, they confirmed that a penthouse unit on the 50^th floor of one tower sold for �7mn GBP.

It is mooted that the firm has used the sale proceeds from the first twin towers by purchasing two tracts of land either side of the existing sites and reckons on building three or four more residential towers, subject to further buyer interest.

O O’Brien

Wallpaper has made a remarkable comeback thanks to the new patterns and textures that have been introduced to the market.

They are set to give a boring neutral room some much needed ooomph!

NB

Survey form Rightmove the property web site has indicated that property price inflation has returned with vengeance.

They claim that the average price of a house now being asked is - �218,954 and last month alone saw an increase of around 2%. It blamed these substantial increases on the long and sustained period of low inflation, low interest rate economic conditions.

Long since seen as the holy grail of macroeconomic conditions, this property price hyperinflation has ahd the effect of increasingly pricing out the first time buyer, already an acute problem in the United Kingdom.

This has baffled many economists and industry pundits who at the turn of 2006 whose predictions ranged form a ‘soft landing’ to a substantial correction in the UK property market suggesting that the recent price inflation was excessive and unsustainable.

RICS reported recently that gazumping had returned to the London property market and that many buyers complained about the return of the odious practice.

Opinion: This website has long been predicting a continued inflation in house prices. Many blame the “hot” Buy-To-Let market and small time investors sinking their money into a pension pot, in attempt to make up for the disastrous Pension Policies Laws of the Thatcher Government in the 1990’s when many were left to the management fees of the private pensions companies, who in turn were subsequently and massively hit by the dotcom crash of the mid to late 90’s.

Many ordinary pension holders were hit and found their pension funds being eaten away by the pension Fund managers “Management Fees”. Bricks and mortar have always been viewed as ‘safe as houses’. In spite of temporary downturns over a sustained period property will at least retain its value (providing of course, you can maintain it).

As the consumers trust in these once highly regarded institutions ebbed away, so the wily consumers have taken advantage of the increasingly easily affordable Buy-To-Let mortgages and this has seen a massive surge in “investment properties” which in turn has had the consequence of continued price inflation.

Source

Footfalls

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Liverpool being named European Capital of culture for 2008 has sparked a �2 bn GBP construction boom.

Over the past year house prices have risen by 9.4%, well above the UK average of 6.2%.

It's believed that outside investors are driving the market.

Source: European Commission.

Sharp Wit

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