020 7538 0102
|
The mastermind behind Canary Wharf is to step down as non-executive chairman of Canary Wharf Investment Group after 36 years with the company. Sir George Iacobescu will be replaced by City grandee Sir Nigel Wilson, the former chief executive of Legal & General, from July 1. Sir George led the British property company as chief executive from 1997 and as chairman from 2011. |
|
Evening Standard (19/06/2024) The Daily Telegraph (19/06/2024) |
A planning application has been submitted for the regeneration of the Teviot Estate in Poplar, East London. The £800 million redevelopment by The Hill Group and Poplar HARCA will provide around 1,900 new homes with 35% affordable, over four phases. This will be complemented by new open green and play spaces, shops, community and faith facilities, alongside improved infrastructure.
As one of the largest estate regenerations in London, the redevelopment of Teviot will transform the area with upgraded designs and enhanced community amenities, creating a safer and better place to live. Hill and Poplar HARCA have worked closely with Teviot residents at every stage to ensure the plans meet the community's needs and aspirations.
The partnership has submitted an outline planning application for all phases of the masterplan, including detailed proposals for the first phase of development. Phase 1 is set to deliver 475 homes, 45% of which will be affordable. Subject to approvals, the project is scheduled to start on site at the end of 2025, with the first homes expected to be completed by 2028. The entire project is forecast to be completed by 2042.
|
The average UK house price edged down by 0.1% in May from April, according to Halifax's House Price Index. The typical property value now stands at £288,688, marking a 1.5% increase compared to last year. The average cost of a house in London rose 0.2% to £536,821. Amanda Bryden, head of mortgages at Halifax, commented: "Market activity remained resilient throughout the spring months, supported by strong nominal wage growth and some evidence of an improvement in confidence about the economic outlook." |
|
Daily Mail (07/06/2024) Daily Mirror (07/06/2024) Evening Standard (07/06/2024) The Times (07/06/2024) |
|
The number of new homes being built in England is at its lowest point since records were kept 17 years ago, and there is increased pressure on the election winner to address the country's "deepening housing crisis." According to the Home Builders Federation's most recent pipeline assessment, just 2,472 sites received planning clearance in the first half of this year, which is the lowest quarterly total since records began in 2006. The housing pipeline is lower now than it was in 2009, when the county was in the "depts of a recession," according to Stewart Baseley, executive chairman of the Home Builders Federation. In order to build 1.5m more homes, Labour, which is presently leading in the polls, has pledged to change the planning regulations. |
|
City AM (11/06/2024) |
|
Tracker mortgages are now cheaper than fixed-rate deals, leading to an increase in their uptake. According to analysts Moneyfacts, the average two-year tracker rate has dipped below the two-year fix for the first time since November. Experts predict that tracker mortgages will become more popular once the Bank Rate is cut. The cheapest tracker rate is currently offered by Nationwide. |
|
The Daily Telegraph (07/06/2024) |
|
Analysis from Santander shows that almost one in five first-time buyers are 40 or over, with the rising cost of properties and mortgages meaning that those getting onto the property ladder have to save for longer. Graham Sellar from Santander said: "With the average age of first-time buyers increasing in the past decade, more are reaching other life milestones, such as having children first.” Mark Harris from the mortgage broker SPF Private Clients said: "Many first-time buyers have children because not every life decision can be put on hold.” Meanwhile, data from banking trade body UK Finance shows that the number of first-time buyers fell 22.4% to 287,430 last year, the lowest since 2013. In 2004, the age at which the majority of people owned their own home was 32 but by 2022, the latest year for which official data is available, it had risen to 36. |
|
The Sunday Times (09/06/2024) |