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23rd March 2018
Figures from the ONS and Land Registry show that UK house prices dipped by 0.3% month-on-month in January but climbed 4.9% on a year ago to an average of £225,620. The annual growth rate slowed from 5% in December. In England average prices increased by 4.6% in the year to January, climbing to £242,000, and were up 2.1% in London, where the average house costs £486,000.
Daily Mail (20/03/2018)
23rd March 2018
Mortgages most affordable in a decade
Mortgage payments reached their most affordable levels in over four years in the last three months of 2017, analysis has found. Typical mortgage payments accounted for less than a third (29%) of homeowners’ disposable income in the period, compared with nearly half (48%) in 2007, Halifax said, driven by historically low mortgage rates. Borrowers at the end of last year were repaying on average £669 a month from a £2,309 take-home wage. Mortgage payments as a proportion of disposable earnings are the highest in the country in London, at 45%.
The Guardian (16/03/2018) The Independent (16/03/2018)
16th March 2018
Telford Homes has launched its latest seven-star development – four luxurious penthouses at Manhattan Plaza in Poplar, just a 10-minute walk from Canary Wharf. Residents at the development, which was designed by Barton Willmore architects, benefit from a 24-hour concierge service, a residents’ gym, and a landscaped piazza, as well as two rooftop terraces. David Campbell, Telford’s group sales and marketing director, said of the home ready for viewing now: “It’s also ideally located close to Canary Wharf, providing it with some of the most beautiful views in London”. Prices start from £897,500.
The Wharf (10/03/2018)
16th March 2018
Barking and Dagenham Council has unveiled a £2bn plan to transform the east London town into a "mini-Manhattan", with 6,000 homes, skyscrapers and five acres of green space dubbed "Central Bark". Council leader Darren Rodwell said: "The fact is we led London and the country on new-build 100 years ago with the Becontree estate, which everyone else followed. That's what we are going to do again now."
Evening Standard (14/03/2018)
16th March 2018
Mayor of London Sadiq Khan has warned that London could see a brain drain due to a shortage of housing, telling City AM: “The biggest issue raised to me by chief executives and other employers is the housing crisis - the fact that they can't get staff in London because of the cost of housing.”
City AM (12/03/2018)
16th March 2018
Figures from Acadata shows that the average price of a London home fell to £593,396 in January, a year-on-year dip of 2.6%. The decline is the biggest since that recorded in August 2009. Values in the capital were down 0.8% in January. Nationally prices rose 0.5% on the month during February to £299,556 but growth slowed year-on-year – hitting 0.6% compared to January’s 0.7%.
The Independent (12/03/2018)