020 7538 0102
1st December 2017
The Evening Standard examines the transformation of Canada Water, just a single Tube stop from Canary Wharf. Transport for London is working on plans for a new pedestrian bridge across the Thames linking the Isle of Dogs with Rotherhithe, to go with the existing underground and riverbus services, in anticipation of an influx of new residents; the first major development to come is British Land’s 46-acre site located between South Park and Russia Dock Woodland, with 650 homes to be completed in the first phase. If planning permission is granted, work will begin in 2019, with the first residents moving in 2021. For those who can’t wait that long, London Square Canada Water, which overlooks a central courtyard garden and enjoys splendid views of Canary Wharf, offers two-bedroom flats for up to £1.2m, while similar properties can be found further inland at L&Q’s Quebec Quarter, where two-bedroom properties start from £675,000.
Evening Standard (29/11/2017)
1st December 2017
Tower Hamlets Council has announced that its own housing organisation has withdrawn a planning application to build an eight-storey block of flats at the Limehouse Triangle open space next to Regent’s Canal. It is the latest in a series of projects in the area to be scrapped, following on from the withdrawal of plans to build a 28-storey luxury residential tower at Whitechapel Square, close to Christopher Wren’s 1695 Grade-I Trinity Green Almshouses at Mile End Gate, Swan Housing’s project near the George Tavern on Commercial Road, and 2,000 homes at Asda’s Isle of Dogs site, which would have overshadowed Millwall Park and Mudchute city farm.
East London Advertiser (28/11/2017)
1st December 2017
Mayor of London Sadiq Khan’s London Plan has paved the way for the capital’s suburbs to experience a surge in housebuilding as rules protecting local character will be lifted. The plan says one-third of new housing will be built on small sites, including in back gardens and upward extensions of existing houses, apartment blocks and shops. It says more than 250,000 homes need to be built in 13 outer suburbs as part of a new London-wide housebuilding target of 650,000 by 2029. The plan also includes: refusing building applications on green belt land unless certain conditions are met; higher density of housing along new transport routes such as the Elizabeth Line; and for all new developments to achieve the “highest standards” of fire safety.
BBC News (29/11/2017) The Daily Telegraph (29/11/2017)
1st December 2017
Figures fromHometrack show that house prices in London are 14.5 times the earnings of an average Londoner – up from 14 times last year. The figure is 42% higher than the long-term average over the past 15 years. The average house price in the capital is now £496,000, while earnings are £34,200 a year. While London saw the biggest gap, Cambridge is close behind with the average property 14.3 times the earnings. This was followed by Oxford (12.6) and Bournemouth (10.1). The Hometrack data also shows that house price growth in regional cities was up 6.1% in the year to October – an increase on the 2.8% reported in May and the highest level since September 2016. The highest growth was seen in Manchester, at 7.9%, followed by Birmingham (7..4%).
The Daily Telegraph (27/11/2017) The Guardian (27/11/2017)
1st December 2017
Figures from UK Finance show that £23.1bn was lent for mortgages in October, a 14% increase on the same month last year. The data shows that remortgaging hit an eight year high ahead of the Bank of England’s interest rate increase, climbing to 34,036 from 30,499. However, new mortgage approvals for house purchases hit a 13-month low, dipping to 40,488 in October from September’s 41,576, with the total down 3% on that seen in October 2016. UK Finance said that with an average of around 100,000 transactions a month, housing market activity in 2017 is set to follow a pattern seen since 2014. Howard Archer, the chief economic adviser to EY Item Club, said the mortgage approval figures were the latest evidence of "lacklustre housing market activity".
The Daily Telegraph (24/11/2017) The Times (24/11/2017)
1st December 2017
Analysis of official figures shows that 685,136 homes approved for development in England are still waiting to be built. Government figures show that planning permission was given for 262,000 new homes last year but just 142,000 got under way. The research, by ChamberlainWalker, shows that 55.5% of the outstanding planning permissions are held by landowners waiting to strike a deal with a builder – with the rate at 71% in London. Chancellor Philip Hammond this week announced a review of the “significant gap” between applications granted and homes built.
Sunday Express (26/11/2017)