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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)
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)