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First-time buyers need an income of at least £53,000 to purchase a home, rising to a whopping £84,250 in London, according to a survey of house prices in the UK’s 20 biggest cities by Hometrack. The average sum is up by £8,000, or 18%, in three years due to sharp house price growth.
The Times (26/09/2018)
First-time buyers are currently experiencing some of the lowest mortgage rates on record. Analysis of figures by Moneyfacts shows the average two-year fix on the market for someone with a 5% deposit now stands at 3.73%, down from 4.16% in September 2017.
The I (25/09/2018)
Twenty-seven shared-ownership properties at Telford Homes’ Liberty Building on the Isle of Dogs are currently available, with prices for a one-bedroom apartment starting at £184,000 for a 40% share, based on a full market value of £485,000. Adjacent to Crossharbour DLR, and a 20-minute stroll from Canary Wharf, the homes come with access to a 24-hour concierge service, a private gym, a landscaped square, and courtyard garden.
The Wharf (18/09/2017)
A collection of rental properties has gone on the market at L&Q’s Quebec Quarter development in Canada Water. Set between Surrey Quays and Canada Water stations, close to Russia Dock’s woodland, one-bedroom apartments can be had from £1,575 per month, two-beds at £1,945, and three-beds at £2,595.
The Wharf (19/09/2017)
Despite warnings over the impact of political uncertainty and Brexit on the property market, new analysis predicts that London house prices will climb by 13% over the next five years. According to a new report by CBRE, "the attraction of London as a place to live and work is unlikely to abate”. It forecasts the capital's population will continue growing, from 8.9m last year to 10.05m by 2022 - a 12% increase set to power property sales.
Evening Standard (19/09/2018)
Average house prices in the UK increased by 3.1% in the year to July, according to the Office for National Statistics, the lowest annual rate since August 2013 - when it was 3%. House prices in the North West rose the fastest, though the South West and West Midlands regions both experienced price hikes of 4.4%. The biggest fall was in London, where prices dropped by 0.7% year-on-year, to £484,926. The average UK house price was £231,000 in July, £6,000 higher than in July 2017 and £2,000 higher than last month.
BBC News (19/09/2018)