020 7538 0102
26th January 2018
Philip Hammond's decision to scrap stamp duty for first-time buyers is likely to lead to a sharp rise in house prices, MPs on the Treasury select committee predict. The MPs fear the policy is likely to increase prices for first-time buyers "by as much, if not more, than the amount they will save as a result of the reduction in stamp duty". Their report is also sceptical of the targets of building 300,000 new homes a year, estimating that Mr Hammond would only meet this if he takes more action such as lifting a borrowing cap on councils that restricts the number of homes that local authorities could deliver, while private housebuilders create only around 150,000 homes a year.
The Times (22/01/2018)
26th January 2018
A “radical new approach” to housing policy and a renewed focus on modular construction will be needed, experts warn. The Housing & Finance Institute has urged the government to focus on modern construction methods to drive up the number of newbuilds and boost productivity. “Housing-based infrastructure has been creaking at the current rates of delivery and simply isn’t ready to deliver at nearly double current rates. Much more needs to be done, and soon,” the report said. The think-tank also pushed the government to formally make housing a national infrastructure priority.
City AM (22/01/2018)
26th January 2018
Sadiq Khan’s affordable housing programme is under pressure after figures showed he has started building just 428 homes in the first six months of 2017-18. The full-year target is to start between 12,500 and 16,500 new homes. However a spokesperson for the mayor of London said 1,641 homes had been started under the programme by the end of December 2017, and "City Hall remains on track to start at least 12,500 affordable homes by the end of the financial year.”
City AM (22/01/2018)
19th January 2018
Telford Homes is putting a tranche of 183 properties up for sale at the New Garden Quarter development in Stratford. Built on land formerly occupied by London and Continental Railways, a range of one, two and three-bedroom apartments, villas and a limited number of “sky villas” on the sixth and seventh floors offer open-plan living with floor-to-ceiling windows, a private balcony or terrace, a kitchen with integrated Smeg appliances, and en-suite bathrooms and shower rooms. Prices start at £435,000 for a one-bedroom apartment.
In Your Area (17/01/2018)
19th January 2018
Research from London First and Grant Thornton shows that 46% of homes granted planning permission in London have not been built. They found that of 54,941 homes approved in 2014, just 29,701 had been built by 2017. Jasmine Whitbread of London First said: "Unless we get to grips with the housebuilding hold-ups, generations of Londoners will be priced out”.
Evening Standard (17/01/2018)
19th January 2018
Data from Land Registry and the ONS shows that the average house price in the UK reached £226,000 in November, a 5.1% year-on-year increase. The increase was led by Cambridge, where values jumped 16.4%, and the West Midlands, where the average sold price was 7.2% up on a year earlier. The figures show that the London market remains sluggish, with a 2.4% increase in prices over the year representing the weakest price growth of all regions. Despite this, the £482,000 average sale price means the capital remains the UK’s most expensive region. The lowest average price was in the North East, with a typical sale value of £128,000. Across the UK, England saw average prices climb 5.3% to £243,000, Wales’s average was up 4.5% to £153,000, Scotland saw typical values rise 3.6% to £146,000, and Northern Ireland’s average price of £132,000 marked a 6% increase.
The Daily Telegraph (16/01/2018)