Docklands News

A survey of 2,000 adults found that 69% of Britons regularly check out estate agent displays to get information about available homes. Over half of Brits engage in "roomscrolling," browsing property listings just for fun. The survey also revealed that 42% daydream about homes they'll never live in, and 69% regularly peek at estate agent windows. The poll showed that 34% of "roomscrollers" are attracted to properties outside their price range, while only 29% look at homes within their budget. "Roomscrolling" provides stress relief and a sense of escapism, explains Jo Hemmings, a behavioural psychologist, as it triggers curiosity and the desire to learn about neighbours' living spaces. 

The Mirror (23/07/2024)  

Assael Architecture, on behalf of Weybourne, has revealed plans for Peninsula Gardens, a Greenwich development featuring more than 1,250 new homes at the Millennium Retail Park. It also features space for shops, a new public square and high street in the site’s centre, and residential streets with walking routes. "The proposed scheme provides the opportunity to sustainably re-develop an otherwise under-utilised brownfield site to create a new residential led mixed use neighbourhood that ties together the existing and emerging neighbourhoods that surround the site", the planning document states. The project dates back to 2020 during which consultation meetings were held between the previous developer for the scheme London Square and stores of the retail park on the site. 

MyLondon (08/07/2024)  

Labour has set an ambitious target of building 1.5m homes over the next five years, which means constructing 300,000 homes annually. However, experts are sceptical about the feasibility of this goal. Private housebuilders are cautious about flooding the market, and the government's influence on supply is limited. The Labour government plans to cut planning application delays, assist first-time buyers, and build on green belt land. However, progress may be slow due to various factors, including higher interest rates and a housebuilding deficit inherited from the previous government. The government also aims to help first-time buyers by introducing a new Help to Buy scheme and a permanent mortgage guarantee scheme. The party also wants to give local people priority in new developments and reform compulsory purchase compensation rules. However, critics argue that these proposals may have loopholes and a limited impact

Daily Mail (05/07/2024)   Evening Standard (05/07/2024)   The Guardian (05/07/2024)   The Independent (05/07/2024)  

House prices fell by 0.2% in June, Halifax data shows, which surprised economists who had predicted an increase. The average house price in the UK is now £288,455. Despite the recent slowdown, prices are still 1.6% higher than last summer. The housing market activity has been "broadly flat" over the past year, and Nationwide predicts that prices will "flatline at best" over the summer. The shortage of available properties, rather than demand from buyers, continues to drive higher prices. Prices are rising fastest in Northern Ireland and the northwest of England, while the east of England has seen a 0.9% decrease in prices. Halifax expects prices to rise modestly for the rest of the year and into 2025. Opinions on the near-term future of the housing market are split, with some economists predicting a tepid increase in prices this year, while others expect a 5% increase in 2025 due to rapid interest rate cuts by the Bank of England

BBC News (05/07/2024)   Daily Mail (05/07/2024)   The Guardian (05/07/2024)   The Times (05/07/2024)  

Property professionals' expectations for an uplift in house sales are at their strongest level since the start of 2022, according to a survey by the Royal Institution of Chartered Surveyors (RICS). While 20% of professionals expect a recovery in home sales over the next three months, 54% anticipate higher house prices in a year's time. The survey also revealed a pick-up in tenant demand and a decline in new rental listings. Economists are predicting a potential cut in the Bank of England base rate, which could soften lending rates and support a housing market recovery. "Although activity across the housing market remained subdued last month, forward-looking aspects did improve slightly. There are some factors emerging now that could support a recovery in the months ahead", said Tarrant Parsons, senior economist at the RICS. 

Daily Mail (10/07/2024)   Evening Standard (10/07/2024)   The Times (10/07/2024)  

Moneyfacts reported that the number of 5% deposit mortgage deals reached its highest level in July, with 361 options available. This marks the highest total since May 2022. The increase in low deposit deals is good news for first-time buyers. Across all deposit sizes, there were 6,658 mortgage options available, the highest number since February 2008. The average shelf-life of a mortgage product also increased to 30 days in July. Rachel Springall, a finance expert at Moneyfacts, stated that there is room for growth in the 5% deposit market, as it currently represents just 5% of all mortgage deals. 

Daily Mail (09/07/2024)   Evening Standard (09/07/2024)   The Independent (09/07/2024)