020 7538 0102
3rd November 2017
The government is being urged to consider major changes to its housing policy. The London Chamber of Commerce and Industry has backed a call to allow councils in the capital to borrow money to build more homes. Some 50,000 extra homes are needed in London per year over the next decade, according to LCCI forecasts, and undersupply of housing is having a major effect on London businesses, as “lack of affordable homes within commutable distances is generating pressure.” The LCCI also called for business rates to be frozen, reviewed and, in London's case, decoupled from the national rating system.
City AM (30/10/2017) Evening Standard (30/10/2017)
27th October 2017
Canada Water has been named as one of London’s most desirable neighbourhoods, in a new study from University College London. The London Residential Mobility Report evaluates locations based on four factors: connectivity to the rest of the capital; the types of jobs held by residents; population density; and the house-price-to-income ratio. Average price per square foot comes in at £850, while the average sale value, based on Land Registry data between October 2016 and September 2017, came in at £841,000. Greenwich also made the shortlist, with price per square foot averaging £800, with an average transaction value of £495,000. The top five was completed by East Dulwich, Maida Vale, and Hammersmith.
Property Week (19/10/2017)
27th October 2017
Bellway Homes has been given planning permission for a 391-home development on the former East Ham Industrial Estate, overlooking Beckton District Park. The project will see a mixture of studio, one-, two- and three-bedroom apartments and duplexes spread across an array of blocks of between four- and 12-storeys, as well as over 6,000 sq ft of commercial space and a new public square. Demolition of the derelict industrial buildings should start shortly and construction work is expected to start next year. Ian Gorst, managing director of Bellway’s Thames Gateway division, said: “Beckton is an area of East London that, despite its proximity to Canary Wharf and the City, is under-developed. Bellway is delighted to be contributing to the areas transformation especially because the former industrial site has been run down for many years”.
Newham Recorder (24/10/2017)
27th October 2017
Figures from the National House Building Council show that developers registered to build only 2,494 homes in London between July and September, representing a 35% fall from the same three months last year and the lowest level for a third quarter since 1992. Some 7,000 were registered to be built over the same period in 2015. Although quarterly figures can be volatile, there has been a 9% drop in the number of homes being registered by housebuilders in the year to date. The trend contrasts with the UK as a whole however, with more homes registered around the country between July and September than any third quarter since 2007, reaching 37,936 and up from 29,083 in the previous year.
The Times (25/10/2017)
27th October 2017
Government crackdown on gazumping
The Government is to crack down on gazumping as part of plans to make buying and selling a home easier. It comes amid warnings that collapsing home sales cost consumers £270m a year, with 13% of homebuyers blaming gazumping for their deal not going through. Communities Secretary Sajid Javid has launched an eight-week review, saying he wanted to "hear from the industry" on how to streamline home-buying. One proposal includes “lock-in agreements” which would tie in both buyer and seller, creating a financial penalty if either pulled out.
The Sunday Telegraph (22/10/2017)
27th October 2017
Mortgage lenders should look more favourably on people who pay their rent on time, Treasury minister Stephen Barclay has said, responding to a petition calling for rent payments to be taken as proof people can meet mortgage payments. Petition organiser Jamie Pogson, who attracted 147,307 signatures, said he had paid £70,000 in rent on time but was still struggling to get a mortgage.
BBC News (25/10/2017