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24th November 2017
The Evening Standard predicts that the Isle of Dogs, already being transformed by countless new residential developments, will truly come into its own next year, with the opening of the Canary Wharf stop on the Elizabeth Line next year. The new transport link, which will take journey times into Liverpool Street down from 22 minutes to just six, is being accompanied by new projects to bring life to the area at weekends, such as the Museum of London Docklands, community activities at the Crossrail Place Roof Garden, and open air events such as an ice skating rink and food markets. Among the new-build developments are Herzog & de Meuron’s One Park Drive, where prices start at £575,000 for a studio apartment, South Quay Plaza where a home can be bought for £770,000, and Lansbury Square, where Bellway Homes has one-bed apartments available for £387,995.
Evening Standard (22/11/2017)
24th November 2017
New analysis has suggested that staying in some of London’s zone three locations instead of moving to the suburbs could be significantly cheaper. Taking into account moving fees and commuting fares for many of the most popular commuter towns, housebuilding investment platform Homegrown found that moving to locales such as Sevenoaks, Woking or St Albans can cost over £11,000 more annually than living in Upton Park, Tottenham or Stratford. Homegrown said the housing crisis had pushed up the cost of living in the commuter belt.
City AM (20/11/2017)
24th November 2017
Nicky Gavron, chair of the London Assembly planning committee, has written to the Chancellor requesting more funds, saying £300m is needed for prefab homes in the capital. She said: “We have never reached high housing targets in the past without a significant contribution of factory-built homes. If the Government wants to build 300,000 a year they will have to invest in this."
Evening Standard (21/11/2017)
24th November 2017
Chancellor Philip Hammond has abolished stamp duty for first-time buyers on properties up to £300,000. Placing measures to tackle the UK’s housing crisis at the centre of his Budget, the move will also apply on the first £300,000 of a purchase in high-price areas, providing the property's value is under £500,000, meaning 95% of first-time buyers will see at least a cut in the amount of stamp duty, with 80% paying none at all. Setting out plans to build 300,000 extra new homes a year by the mid-2020s, Mr Hammond also pledged at least £44bn of capital funding, loans and guarantees to support the housing market over the next five years. The Office for Budget Responsibility has questioned the impact the stamp duty shift will have, saying it will push up house prices by around 0.3%.
Daily Mail (23/11/2017) The Daily Telegraph (23/11/2017)
17th November 2017
London Mayor Sadiq Khan has called on Chancellor Philip Hammond to take emergency action on housebuilding as concerns on how Brexit may affect recruitment in the construction sector increase. Mr Khan also called for devolution of new powers to London, including greater control of public land. He also wants councils to be allowed to borrow to invest in homes and called for an increase in Government funding for homebuilding and infrastructure. The British Property Federation echoed the Mayor’s call for guarantees over the rights of EU nationals, while the Home Builders Federation warned reducing the supply of workers “could threaten” future building.
Independent I (13/11/2017) Evening Standard (13/11/2017)
17th November 2017
Sajid Javid has accused baby boomers of "living in a different world" if they believe Britain doesn't need to build more homes. He spoke out after millionaire property developer Tim Gurner suggested young people would be able to get a foot on the property ladder if they cut back spending on treats such as avocado on toast. The Communities Secretary hinted that next week’s Budget will deliver new action to tackle the housing crisis, saying it will show "just how seriously we are willing to fight to get Britain building”. He also put 15 councils “on notice” that they faced direct intervention from the Government unless they come forward with plans for significant house building.
The Daily Telegraph (16/11/2017)