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Introducing Hamiltonhill Living – 600 new homes in Glasgow

 

A collaborative partnership between Queens Cross Housing Association, Hamiltonhill Living is the latest housing development announced by our team at Urban Union.

Assisting in the regeneration of the Hamiltonhill area of Glasgow, we will be delivering a total of 600 new homes – 50% of which will be available for rent through the housing association and the other 50% will be available for private sale.

Comprising of a variety of different house types, we will be aiming to meet the needs of a wide range of diverse lifestyles and budgets, from first-time buyers to growing families.

Our specification includes apartments and terraced housing, all in close proximity of Glasgow City Centre.

The regeneration of the area will be delivered over a 10 year period, split over four phases, having initially launched in August 2022.

 

Urban Union providing more properties within the Hamiltonhill area of Glasgow

The housing development site explained

Pictured above is how the location of our development looks currently. Situated along the canal corridor within North Glasgow, Hamiltonhill neighbours Sighthill, Dundashill, Cowlairs, Ruchill Hospital and Maryhill Locks.

An under developed area of the city, we hope to regenerate the site and bring a real community feel along with our housing.

This will be done through collaborative projects, as well as the build of three new local parks in Hamiltonhill (a separate contract set to complete in Summer 2023) – creating attractive open and safe green spaces for children to enjoy and parents to socialise.

 

North Glasgow property Development providing affordable housing

A word from our MD on Hamiltonhill Living

Neil McKay, managing director of Urban Union, said: “It’s great to see work get underway at our new development at Hamiltonhill as we continue to meet the growing demand for a diverse mix of high-quality, affordable houses in the area.

“We expect Hamiltonhill to be a popular development, with lots of exciting future improvements planned for the community. I’d urge people to register their interest now to avoid disappointment.”

Rona Anderson, Director of Property, Enterprise and Regeneration of Queens Cross Housing Association said: “The plans for Hamiltonhill will transform the area into a 21st Century neighbourhood, with spacious homes set amongst gardens and parkland, and excellent connections to the city centre.

“We can’t wait to see the first phase taking shape.”

 

semi detached house and apartment property available for sale in glasgow

 

Register your interest for Hamiltonhill Living

If you are interested in owning a property within this new development, please click here to register your interest.

With work starting early next year, a member of our sales and marketing team will soon be in touch to discuss the homes that we have available.

Why must we invest in affordable housing?

An opinion piece by Urban Union Managing Director, Neil McKay. 

The current economic climate

Last year saw one of the biggest economic downturns of our time – but what does this mean for the housing market? The Bank of England has raised interest rates up to 3.5% – the highest rate since November 2008 and to add insult to injury, Standard Mortgage Rates (SMR) increased significantly resulting in major lenders pulling deals and returning with much higher prices due to ongoing market uncertainty.

But there is hope. The housing market is fundamental to the economy. Whilst housing investment is an unpredictable element to measuring the total output, if you were to buy a new home, it directly contributes to total output (GDP) via investment in land, building materials and job creation. Homes for Scotland reported that up to 79,200 people in Scotland are in employment supported by the housebuilding sector.

The importance of new homes

To support the industry, we need people to continue buying new homes, and with increased interest rates, these homes must be affordable. Building new, affordable homes will undoubtedly play a critical role in the nation’s recovery. Homes for Scotland’s report in March 2022 mentions the house building sector’s direct contribution to the Scottish economy is £1.8 billion direct Gross Value Added (GVA) and £3.4bn in direct, indirect and induced GVA.

For every £1 spent on construction alone, £2.84 of economic activity is generated, with 90 per cent of this spending retained in the UK. On top of this, as the country looks to the post-pandemic recovery, the sector has a substantial role to play.

Social housing and regeneration projects are just as important.

We must provide families and individuals with affordable and sustainable quality homes and social housing which align with the UK’s net zero objectives. All communities should have good public transport links and connectivity, in addition to being within proximity of city centres to help urban areas attract buyers.

Housing developments by Urban Union

At Urban Union, our developments across Scotland aim to be more than just the regeneration of bricks and mortar, but that of communities. In addition to the financial economic benefits, affordable housing can also significantly improve social benefits through creative activation of spaces. We can help promote healthy lifestyles and community interaction in public spaces – such as our recently converted community hub at Laurieston Living in Glasgow – to boost the wellbeing of those residing in our communities.

But we cannot do this on our own and whilst there is help from the Government, it may not be enough. The Affordable Housing Supply Programme (AHSP) from the Scottish Government states it is committed to delivering 110,000 affordable homes by 2032 of which at least 70% will be available for social rent and 10% will be in remote, rural and island communities. However, the March 2022 Homes for Scotland report has indicated that at least 25,000 new homes per annum need to be built to keep pace with demand.

A clear and sustainable investment in regeneration and affordable housing, will not only address Scotland’s housing shortfall and support economic recovery, but will also have a significant positive impact on the wellbeing of our communities at a time where economic certainty and the value of our communities has never been more important.

Neil McKay is Managing Director, Urban Union

The newly appointed Chancellor, Kwasi Kwarteng, last week announced a radical set of measures to help to tackle the current cost of living crisis.

One of the commitments was to cut taxes with the view that if people are making more money, they’ll spend more which will boost the economy’s growth. It was seen as a risky strategy, especially as business and consumer confidence is low, and cutting taxes contradicts the measures brought in by the Bank of England with the recent interest rate rises to tackle inflation.

Several measures announced last week will affect people here in Scotland, including the reversal of the National Insurance increase for employers as of April this year and the retention of the corporation tax rate.

Whisky distillers and brewers will see an end to planned reforms of alcohol duty, and retailers will see a new system to boost VAT-free shopping by foreign tourists. In addition, the reversal of tax reforms for people who are currently self-employed will cover the whole of the UK.

However, several announcements will not apply to Scots, including the cut in additional rate income tax from 45% to 40% on earnings above £150,000. The rate here remains at 46%. Also, a cut in basic rate tax from 20p to the pound to 19p does not apply here.

Property

One of the main headlines from last week was the cut in stamp duty for property transactions. This only applied in England and Northern Ireland, given that here in Scotland, we have the Lands and Building Transaction Tax (LBTT) system.

In the budget last week, the Chancellor announced that stamp duty would not be charged on the first £250,000 of a property purchase for people moving home. This up from the current level of £125,000. To help people realise their dream of property ownership, stamp duty will not be paid on the first £425,000 of a property worth up to £625,000 bought by first-time buyers.

In the previous scheme, introduced during the pandemic, first-time buyers were not charged stamp duty on the first £300,000 of a home costing up to £500,000.

The same savings could be made available to Scots, but it’s all dependent on the government. This tax cut which doesn’t apply to us, is treated by the Treasury as a giveaway to non-Scottish individuals. A proportionate share of that giveaway is handed to Holyrood. This allows Scottish ministers to deploy the funds as they choose.

Following the announcement about stamp duty, Holyrood will be given an increase in block grants from the Treasury of £630m spread over this year and the next two financial years.

Cutting the basic income tax for the rest of the UK is a boost for Holyrood of £340m over the next financial year and the year after. The element of reduced property transaction tax in England and Northern Ireland adds up to £170m over three years. Some £120m is in place of the reduction in top rate income tax, which cuts the tax bill for the average non-Scots high earner by £10,000. That widens the gap between Scots and non-Scots high earners when Scots already pay higher tax rates above £50,000.

Holyrood could cut tax in similar ways or spend it on different priorities – time will tell as to whether Scots will see similar savings when purchasing a property.