Lunchtime news April 4

An independent affordability review in Northern Ireland has called for an extra 10,000 social rented homes to be built and 9,500 empty homes to be brought back into use over the next five years. The Semple report [downloads PDF] also called for fast-tracking of planning applications for new homes.

Not before time: the Nationwide says house prices in Northern Ireland are rising at their fastest since records began in 1973 while the Halifax [downloads PDF] says that in the last two years prices have overaken everywhere except London, the South East and the South West.

The Housing Corporation has put AmicusHorizon group under supervision and has made three statutory appointment to the board of the housing association that manages 27,000 homes in London and the South East. It said it acted ‘because of concerns about its governance and management, arising from on-going poor operational performance within the group’s subsidiary SLFHA’.

As the election campaign hots up in Scotland, the Herald has a major feature on the housing crisis in Glasgow in the wake of the stock transfer, house price boom and buy to let.

House prices rose by 1% in March, according to the Halifax [downloads PDF]. The annual rate rose to 11.1% but the bank said the increase was for ‘purely arithmetical reasons’ to do with the strength of the market in early 2006 and house price inflation should slow down in the coming months.

The Bank of England held interest rates at 5.25% this morning but according to the Financial Times most economists expect another 0.25% rise in May.

The statutory tenancy deposit scheme in the private rented sector starts tomorrow. Communities secretary Ruth Kelly at the launch: ‘The new rules will inject greater fairness into the rental market and mean that when a tenant sticks to the rules, the landlord/agent must too.’