Projects Update: Nov 2nd

Our latest developments project update for November 2nd 2018 is now available to download in PDF format.

Simply click here to download the latest information pack on Oaking Developments ongoing projects.

Projects Update: Oct 19th

Our latest developments project update for October 19th 2018 is now available to download in PDF format.

Simply click here to download the latest information pack on Oaking Developments ongoing projects.

Projects Update: Oct 5th

Our latest developments project update for October 5th 2018 is now available to download in PDF format.

Simply click here to download the latest information pack on Oaking Developments ongoing projects.

Projects Update: Sep 21st

Our latest developments project update for September 21st 2018 is now available to download in PDF format.

Simply click here to download the latest information pack on Oaking Developments ongoing projects.

Oaking To Create Jobs for North Wales Region

The Daily Post ran a fabulous article on Oaking Developments yesterday with their headline ‘Homes Developer Targeting Region To Create 100 Jobs.’ The North Wales newspaper interviewed Director Alan Forsyth who said “It (North Wales) is very much our base and our home. We will invest around £12m this year in the region. The demand is there and we are catering for the market here”.

My Forsyth also went on to mention “We plan to keep investing in North Wales, we have recently brought a site in Rhos and we are looking at sites in Abergele and Llandulas” He said “I am from North East Scotland and in many ways this area is similar. The costline is fantastic and there are so many wonderful beaches”.

The full article is below (click on the image to expand)…

Positive News on Property in Wales

Business News Wales has provided the latest positive update on Welsh Property with house prices in Wales predicted to rise by 10.4% by 2022.

The predictions have been made by Global property consultants JLL who suggest a moderate rise in property prices across the UK leading towards a more stable market.

The full article is below and can also be read here

House prices in Wales are expected to rise by 10.4% over the next five years, according to predictions by global property consultants JLL.

That’s higher than prime central London where prices are predicted to grow by 8.7% between 2018 and 2022.

Whilst nationally a range of factors will deliver more moderate house price growth across the UK and lead to a more stable market, Wales – and South Wales in particular – shows little sign of slowing.

The latest RICS (Royal Institution of Chartered Surveyors) Residential Market Survey states Wales has seen the most positive price growth reported by its members, followed by Northern Ireland, the North West and the Midlands. 50% more RICS members reported having seen price increases in Wales compared with a wide majority of members in London reporting prices in their region to falling.

There are a range of factors for this positive outlook, not least the announcement that the Severn Bridge tolls will be scrapped by the end of 2018, opening up residential markets in South and South-East Wales to a host of commuters working in Bristol and the South West. Other major schemes include the electrification of the South Wales rail line which will improve links with London Paddington and the South Wales Metro scheme aiming to improve transport links across the Cardiff capital region.

This is complemented by a broadening commuter belt, agreement of Local Development Plans and the growth of agile working, with more and more people working remotely from multiple locations and from their homes.

Matthew Wright, associate director in JLL’s Cardiff office said:

“There has been a general undersupply of residential property in key Welsh conurbations for a number of years. This has started to be addressed with a number of large residential projects either mooted or already underway along key commuter links such as the M4 motorway and the A48.

“Only last month, the Severn Growth Summit mapped out opportunities for greater collaboration and investment, creating a ‘western powerhouse’ for Cardiff, Newport and Bristol similar to that seen in the North West.

“Almost a decade worth of pent up demand for development – both residential and commercial – has finally begun to find an outlet in the various major schemes now underway. As the region’s national and international connections continue to grow we anticipate this having a positive impact in terms of residential property values.”

But with these positive predictions comes a note of caution. Matthew Wright added:

“The residential market continues to be heavily influenced by changing Welsh Government policy across planning, construction and taxation; indeed, more so than any other sector of the property market. Measures such as the ‘Help to Buy’ scheme have bolstered demand however the devolution of minor taxes to Wales has brought changes to stamp duty and, potentially, a new tax on vacant land.”

Welsh Government recently announced that from April 2018, the existing Stamp Duty Land Tax will be replaced in Wales by a Land Transaction Tax, which introduces new price thresholds for residential sales.  The new regime is aiming for purchasers of houses up to £400,000 to pay the same or less than under the current scheme, with properties above this level incurring higher tax.

Welsh Government has announced its intention to introduce a tax on vacant land, similar to the Republic of Ireland model, to ‘… prevent the practice of land banking and land not being developed within the expected timescales’. Little detail has been provided as to how this will operate and how penalising the under-use of land will improve the viability of marginal sites.

Download JLL’s report here

Featured in Press: North Wales Magazine

Oaking Developments are proud to feature in this months November Edition of North Wales Magazine with our latest projects highlighted in the popular monthly’s property section.

Our very own customer service manager Josh Woolley commented in the magazine “Since the completion of Forest Hills in Colwyn Bay, 19 apartments all with sea views, which saw excellent demand we have continued to identify excellent locations for the local market.”

“Oaking currently has a range of exciting developments in progress in Colwyn Bay, Llanfairfechan, Llandudno Junction and Rhos on Sea which are all seeing high demand”.

The magazine is a top free local publication founded by Kate Hamilton highlighting on important topics within the region.

To read the online version of the November 2017 magazine click here where you will find our half page advert for Cedar Court on page 70.

Take a look at the press clippings featuring Oaking Developments below:

Featured in Press: Development Bank Wales

Oaking Developments featured on the Welsh Government website Banc recently with Llywodraeth Cymru New Investments Regional Manager Rhodri Evans stating “The recent completion of Forest Hills in Colwyn Bay in March 2017 – which was funded by us – has now fully sold.”

Managing Director of Oaking Alan Forsyth mentioned “We could not have done this without the smooth business relationship we have enjoyed with the Development Bank of Wales.”

To take a look at our investment through Development Bank of Wales please click here

Featured in Press: Business News Wales

Oaking Developments featured in Business News Wales this week thanks to our links with Finance Wales regarding the impressive recent developments at Colwyn Bay and South Caernarfon Creamaries.

The National Business insider acknowledged “The investments are helping these established North Wales businesses to expand and create new jobs.  Oaking Developments expansion is also expected benefit local partners and suppliers in North Wales.”

The full article can be read here

The magazine also published an article on Finance Wales providing the North Wales Economy with a £3 million boost of which Oaking Developments featured below.

A link to the Business News Wales website and the article on Finance Wales is here