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17th November 2017
A new study purports to show that up to 41,000 new homes could be built in central London if properties are built on top of existing buildings. It adds that rooftop building could add 28m sq ft of residential space with a potential value of £51bn. The report found that 23,000 buildings could be suitable for rooftop development in London’s zones one and two.
The Daily Telegraph (13/11/2017)
17th November 2017
Academics at the London School of Economics have said that stamp duty on a typical home in London now represents more than one-third of average annual earnings in the capital. Their study calls for a “brave government” to replace stamp duty with an annual tax on the property or land values, or an improved version of council tax. Meanwhile, research by the CEBR shows stamp duty is now preventing 45,000 house purchases a year, with first-time buyers, home movers and downsizers all affected.
Financial Times (14/11/2017) The Daily Telegraph (14/11/2017)
10th November 2017
The Standard looks at plans to create the first factory-built town in London, with Silvertown set to see 850 new homes as part of a £3.5bn regeneration plan. A factory will be built on-site to construct the components for the properties. The project is being led by the Silvertown Partnership, a consortium of three developers - Chelsfield Properties, First Base and Macquarie Capital - which hopes to have residents moving in by 2020. Spokeswoman Olaide Oboh said “We see it as a vibrant, 24-hour area. And we are obsessed with design. We won’t build homes that are just boxes with no character or identity. They will work well and be beautiful to look at”.
Evening Standard (09/11/2017)
10th November 2018
The final penthouse at the Dollar Bay tower block in South Dock, Canary Wharf, went on sale this week, a four-storey, 3,000 sq ft home with décor by interior designer Daniel Hopwood. The master bedroom features a floating bed, with two further guest suites, and a winter garden on multiple floors for panoramic views of the capital. The Mount Anvil-developed property is available for £3.5m.
The Daily Telegraph (09/11/2017)
10th November 2017
New research has estimated that London’s house price development over the next three years will remain on the upside. Hackney is expected to lead price growth at more than 5% in the years to 2020, while Richmond will experience the lowest growth (1.5%), a report from KPMG predicts. "Our projections see a continued cooling in the short term, followed by a gradual rebound in the medium term, which will allow the cumulative price growth to remain positive overall,” KPMG said. The findings also suggest that with up to 20% of people living in some boroughs hailing from the EU, Brexit could lead to a short-term dip in house prices in areas such as Kensington and Chelsea.
City AM (03/11/2017) The Times (03/11/2017)
10th November 2017
House prices across the UK are rising strongly and will continue to do so in the months ahead, according to Halifax, which said prices rose 4.5% in the year to October, up from 4% in September and the fastest rise since February. Month-on-month, homes were 0.3% more expensive in October. The bank said that last week's rise in base rates, which will affect more than 4m people on variable rate mortgages, was unlikely to dampen the market, and put the average price of a UK house to a new record high of £225,826.
The Daily Telegraph (07/11/2017)