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HSBC research has revealed that first-time homebuyers can now expect to get on the property ladder at age 39, whilst those who already own a home were 28-years-old on average when they bought their first property. More than half of those looking to buy their first home already have a family to support. Two-thirds of people wanting to buy expect to make their purchase with a partner.
The Sun (12/07/2019)
Canary Wharf has been awarded Plastic-Free Communities Approved status by marine conservation charity Surfers Against Sewage. The Wharf’s eco-drive also includes collecting hundreds of tons of coffee grounds from its cafés, to be compacted into logs that can be burned as fuel. Martin Gettings, head of sustainability at Canary Wharf Group, estimates that 1.2m plastic objects have been taken out of circulation over the past year. Additionally, to keep the water litter free a special bin has been installed just below the waterline of Middle Dock that traps and stores floating debris. Further initiatives will be rolled out as the Canary Wharf Estate expands; over the next four years, 3,600 homes will be built at Wood Wharf, a 23-acre mixed development which will also include a school, shops, offices and restaurants.
Evening Standard (05/07/2019
Tristram Hunt, Director of the Victoria and Albert Museum, reflects on the launch of the East Bank cultural centre in Stratford, which he describes as the most significant creative development in the capital since the Southbank of the National Theatre and Hayward Gallery was commissioned in the post-war years. The project has brought the V&A, the Smithsonian Institution from the US, Sadler’s Wells, the London College of Fashion, the BBC, and University College London together to form a “new campus of unbridled innovation”.
Evening Standard (05/07/2019)
Residential landlord Grainger has agreed to fund and acquire a 146-home build-to-rent development in London's Canning Town for £62m. The block is part of a £3.7bn regeneration scheme and will be built and developed by French construction giant Bouygues. Work is expected to begin by the end of the year and is planned to be completed by the end of 2022. Helen Gordon, chief executive, said the deal would allow Grainger to strengthen its presence in London, "one of our top target cities".
The Daily Telegraph (09/07/2019) Insider Media (10/07/2019)
A monthly survey of estate agents by the Royal Institution of Chartered Surveyors reveals the number of newly agreed residential sales has increased for the first time since February 2017. The survey polled more than 300 estate agents in more than 600 branches last month. For the first time since November 2016, the survey indicated a rise in new buyer inquiries at a national level, while the volume of new instructions was higher for the first time in a year. The majority of the estate agents surveyed also expect the number of agreed sales to rise over the next year. All parts of the country were showing house price growth, except for London, the South East and the East of England.
The Times (11/07/2019) City AM (11/07/2019)
Halifax’s latest house price index has revealed that UK house prices rose by 5.7% on an annual basis month in June, taking the average UK house price to £237,110. That compares to May’s £237,837, when Halifax recorded an annual growth rate of 5.2% – the best in two years until Friday’s figures. Russell Galley, managing director of Halifax, said: “Recent industry figures show demand looking slightly more stable, with mortgage approvals ticking along just above the long-term average.” However, he warned that a “major restraining factor” for the UK housing market was the lack of houses up for sale.
The Times (05/07/2019)