Docklands News

New data reveals that average UK house prices increased by 4.9% to £269,000 in the year leading to January 2025, according to the Office for National Statistics (ONS). This growth is attributed to a steady rise in stock levels, as noted by Jeremy Leaf, a north London estate agent. The North East saw the highest growth at 9.1%, while London lagged at 2.3%, for an average price of £563,899.

City AM (26/03/2025)   Forbes (26/03/2025)   The Standard (26/03/2025)   The Times (26/03/2025)  

Newham Council has approved Haworth Tompkins’ plans for 600 homes at Lendlease's Silverton scheme in east London’s Royal Docks area. Plot 78, the scheme has been designed by Haworth Tompkins and will include two pocket parks as well as commercial and retail space. Plans for this neighbourhood include restoring a grade II-listed former grain silo, Silo D, as well as a central public park that will connect to the existing Millennium Mills former flour mill building. “We’re making significant progress at Silvertown, and the site’s immense potential becomes more evident every day", commented Jesse Wallis, project lead for Silvertown at Lendlease. ”This latest plot of homes is a crucial part of that momentum as we work with partners to continue to prioritise the delivery of housing as early as possible in the scheme".

Building (21/03/2025)   Building Design (21/03/2025)   Housing Today (21/03/2025)   Property Week (21/03/2025)  

Housing affordability in England and Wales has returned to pre-pandemic levels, as wages have risen faster than property values, according to the Office for National Statistics (ONS). The median home price in England last year was £290,000, equating to 7.7 times the average earnings of £37,600. However, affordability remains a challenge, with only 9% of areas considered affordable, albeit a slight improvement from 6% in 2023. The most affordable local authorities in 2024 were Blaenau Gwent in Wales with an average house price-to-earnings ratio of 3.8, Burnley in North West England with a ratio of 3.9 and Blackpool, also with a ratio of 3.9. Sarah Coles, head of personal finance, Hargreaves Lansdown said: "Wages have risen faster than house prices in recent years, so would-be buyers are inching slightly closer to being able to afford a home of their own." 

Daily Mail (24/03/2025)   Financial Times (24/03/2025)   The Independent (24/03/2025)  

Homebuyers paid £1.1bn in stamp duty in February, a 24% increase from January's £848m, according to Coventry Building Society's analysis of HMRC data. The surge is attributed to buyers rushing to complete purchases before the stamp duty threshold drops from £250,000 to £125,000 on 1 April. This will see the tax bill on the average-priced home in England increase from £2,028 to £4,528. Jonathan Stinton, head of mortgage relations at Coventry Building Society, said: "Those who can't get the keys to their new house in the next ten days need to brace themselves for a hit, potentially amounting to thousands of pounds." 

The Guardian (22/03/2025)  

Many people who relocated during the pandemic have expressed mixed feelings about their moves, with over one in ten regretting their decision, according to a survey by mortgage broker Trussle. A further 15% are dissatisfied with their new location and contemplating another move. The Sunday Telegraph speaks to Sally McIlhone, who moved from a flat in London to a house in Hampshire during the pandemic. She says that while the extra space has been a definite benefit for herself and her children, the trade-off has been a big pay cut, a lack of career opportunities, and less cultural and social nourishment. Meanwhile, a separate Aviva survey reveals that half of pandemic-era homebuyers believe they overpaid because property prices were surging in rural and coastal areas at the time. 

The Sunday Telegraph (23/03/2025)  

Silvertown is being transformed into the vibrant new heart of the Royal Docks, with the restoration of the Millennium Mills, and the development of a new community featuring around 6,500 new homes. The locale will be powered by ectogrid, E.ON's latest heating and cooling solution. Based on heat pump technology, ectogrid is a low-carbon energy sharing network designed for city districts. It was inspired by ectotherms – cold-blooded animals such as snakes and lizards, which regulate their body temperature using external sources. The energy grid provides heating and cooling to homes and businesses by first tapping energy sources available locally, from air, water or the ground. Each property connected to the system then sends its excess heating or cooling to other buildings as needed, maximising use. E.ON estimates that by using ectogrid at Silvertown in place of traditional gas boilers, emissions will be 88% lower, saving about 4,000 tonnes of CO2 a year. The innovative technology won a Cop28 Energy Transition Changemakers award for energy efficiency.

The Guardian (18/03/2025)