Docklands News

A new study shows households spent more than £6.6bn on pandemic purchases that they no longer use. Gaming equipment, tools, clothes and home gym equipment are the commonly regretted purchases, according to data from the How We Live report.

The Times (08/11/2021)  

Stretching 4km along the northerly banks of the River Thames, the Royal Docks have been through a massive regeneration process over the last decade, with a diverse array of residential, commercial and retail developments. At the centre of the locality, just a few minutes from Gallions Reach DLR, sits Royal Albert Wharf which when complete will have delivered more than 1,850 new homes alongside an up-and-coming creative hub.  The newest phase, Parkside at Royal Albert Wharf, is the home of two new apartment buildings, Guthrum Court and George Court, containing 119 new homes from Notting Hill Genesis. A mix of apartments and duplexes available through private sale and Shared Ownership, they sport large, well thought-out layouts that maximise natural light and create bright, airy spaces. Amenities include modern kitchens complete with integrated appliances and master bedrooms with built-in wardrobes, plus smart meters, fibre optic broadband, USB sockets and low-energy lighting. One-bedroom apartments start from £367,500, with two-beds from £495,000 and three-beds from £595,000.

City AM (29/10/2021)  

A new footbridge to end congestion for thousands of Canary Wharf residents and commuters has been delayed. Plans for the South Quay bridge at Millwall Docks to cope with the rapidly-growing Isle of Dogs population were finalised in 2018 by Tower Hamlets Council with £7m from London Councils to begin construction. The proposed 80ft long pedestrian footway would replace the old, narrow footbridge linking the residential South Quay neighbourhood to Canary Wharf over Millwall’s South Dock. The council wants South Quay Plaza linked to Bank Street on the north side of the dock. But delays have been caused by where a footbridge would be sited. The  original suggestion would block dock moorings.  The bridge is now expected to open in 2022, the council’s website says. A town hall spokesperson said: “The footbridge scheme is gaining momentum and we're getting closer to this project to support development of the area. The timelines are only guides and subject to change".  

East London Advertiser (29/10/2021)  

House prices have hit record highs, with the average property price passing the quarter of a million pounds mark for the first time. Nationwide’s House Price Index shows that the typical house price is now £250,011. This comes after values rose by 0.7% in October, up from 0.2% in September. Year-on-year, prices were up 9.9%, with this down slightly on the 10% recorded in September. The analysis shows there were 72,645 mortgage applications in September. Nationwide notes that possible base rate hikes from the Bank of England are pushing up mortgage rates, saying this may dent the property market. Robert Gardner, Nationwide's chief economist, said demand for homes has remained strong, despite the stamp duty holiday coming to an end on September 30th. “However, a number of factors suggest the pace of activity may slow. Consumer confidence has weakened in recent months”, he warned. 

Daily Mail (03/11/2021)   The i (03/11/2021)   The Independent (03/11/2021)  

British banks and building societies granted the fewest new mortgages for house purchase in more than a year in September. Bank of England (BoE) data shows that mortgage approvals fell to 72,645 in September from 74,214 the month before, the lowest since July 2020. The decline has been attributed in part to the winding down of the stamp duty holiday, with the tax break rolled out to support the market amid the pandemic withdrawn at the end of September. Despite a dip in the number of approvals, net mortgage lending for transactions that completed in September surged to £9.524bn. This was the highest total since June – the last month before the stamp duty holiday started to taper. Approvals for re-mortgaging rose slightly to 41,500 in September to the highest levels since March 2020.

Daily Mail (29/10/2021)   Evening Standard (29/10/2021)   Financial Times (29/10/2021)   Reuters (29/10/2021)  

Half of British homeowners have never remortgaged - even though one in three know it could probably save them money. A survey, of 2,000 people with a mortgage, found they still have an average of 45% of it left to pay. But 9% admit they have no idea exactly how much they still owe. and 49% believe the hassle and paperwork of remortgaging wouldn't be worth the financial savings. A spokesman for Barclays Mortgages, which commissioned the research, said: “It's clear from our research that many find remortgaging a tricky subject to understand, even though UK adults have been on the mortgage payment ladder for an average of 13 years and five months." 

Daily Mail (30/10/2021)   The Express (30/10/2021)   The Sun (30/10/2021)