Up to six new factories producing modular housing, sometimes called flat-pack housing, could be built in the UK, reports Show House.
A new joint venture funded by the China National Building Material Company (CNBM) could produce up to 25,000 homes a year.
The agreement was struck between Your Housing Group and Welink Group, and includes access to CNBM technology and further funds. The joint venture will build up to six factories across the UK, which will produce up to 25,000 homes per year, making it the UK’s leading modular housing developer.
“YHG is committed to providing innovative solutions to address the availability crisis which affects the housing sector in the UK today,” said Brian Cronin, CEO of Your Housing Group.
“This is an opportunity for YHG to get back to building more social and affordable homes across a wider geography of the UK, it also ensures new types of employment, new building skills, and the nurturing of additional apprenticeship opportunities are available, which can only be good news for local people and businesses where we develop our housing and supply chains.”
“Our focus as a business has always been about building and maintaining communities through the development of good housing, creation of jobs and servicing the needs of all of our customers,” said Mark Tattersall, Chair of Your Housing Group.
This announcement brings further investment, opportunities and new homes to our region that will generate a welcomed positive impact in our communities when it is needed most.”
New figures also show that property prices have now recovered to their pre-referendum levels. The latest figures from LSL Property Services / Acadata show that despite the vote to leave the European Union, property values in England and Wales continued to rise in November. Prices edged up 0.1 per cent from October, taking the average house value to 3.1 per cent above the same time a year ago.
The average house price in England and Wales, at £295,276, is up £380 on the month and exactly the same as it was in May 2016, marking a recovery to the level immediately prior to the referendum.