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Almost 5,000 new homes are planned over the next decade for the Poplar section of the River Lea, winding from north-east London via Stratford on the Thames near Canning Town. Up to 2,800 new homes will be built on the 20-acre Poplar Gasworks site in Levan Road, all served by a secondary school, shops, restaurants, offices, and a small riverside park and towpath walk. The gasworks site, which is being developed by the National Grid and Berkeley Homes, is just one of a number of projects on the Lea, along with the 1,000 new homes planned for the Aberfeldy Estate, almost 800 at Ailsa Wharf, and the 100 already completed at Leven Wharf, adjacent to the gasworks.
Evening Standard (06/05/2019)
UK house prices edged up this month as Brexit uncertainty continues to impede the housing market, according to data from Nationwide. March saw prices increase by 0.7% - up from 0.4% the month before. Nevertheless, house prices still look soft on an underlying basis as they were up just 0.1% in the three months to April 2019 compared to the three months to January. London was the weakest performing region in the United Kingdom in the first quarter of 2019 with prices falling by an annual 3.8%, due to unaffordable prices for many buyers and tax changes affecting the buy-to-let market.
Reuters (06/05/2019)
The number of new home sales has fallen for the ninth consecutive month. A monthly residential survey by the Rics found that newly agreed sales were down in April, and there were also fewer new properties on the market last month than at any time since June 2016. The national house price net balance came in at -23% last month, unchanged from March. Respondents further predicted flat or declining volumes across all parts of the country in the next three months. Meanwhile more than 60% of estate agents surveyed said that properties listed at up to £500,000 were sold at a price at least level with the asking price, up from 57% six months ago.
The Times (08/05/2019) Daily Mail (08/05/2019)
Research commissioned by the National Housing Federation shows that three quarters of people polled believe there is a shortage of affordable homes across England and in their local area. The federation says this sends a "clear message" to the Government, after the Conservatives lost more than 1,300 council seats in elections last Thursday. It also urged ministers to invest billions more into housebuilding, arguing this would cut the £23bn-a-year housing benefit bill.
The Times (06/05/2019)
Plans for a luxurious co-living development in Canary Wharf, with an in-house swimming pool, spa and cinema were unveiled earlier this week. The Collective, designed by renowned architecture firm Skidmore, Owings & Merrill, homes at the 21-storey building will be available from July this year, with flexible leases from a single night up to 12 months. The company boasts that the Canary Wharf co-living space is a “haven of creativity and community in the heart of the City”. A “cosy” room in Canary Wharf costs £1,320 per month with a 12-month stay, going up to £1,720 per month for a three-month stay. A “big” suite can be had for £1,680 per month, or £2,080 per month for a three-month stay. Each apartment has a basic kitchenette, but a large communal kitchen on the first floor is available to encourage tenants to cook and eat together. A swimming pool on level 20 is claimed to be the highest in east London, and is close to a bar and spa with sauna, gym, aerial silks studio and mindfulness zone. Other facilities include a virtual reality golf simulator and a music venue.
Evening Standard (30/04/2019) Daily Mail (30/04/2019)
The supply of new properties on the UK market has hit a record low. The typical estate agency branch had 37 properties available for sale during March, according to data published by the National Association of Estate Agents – the lowest figure ever recorded for the month. This has left buyers reluctant to come to market as they have few homes to choose from, with the number of prospective buyers registering with estate agents down by 25% in the last two years, the trade body added. The NAEA said the current political climate and economic uncertainty had caused confidence to drain from the market.
The Daily Telegraph (29/04/2019)