020 7538 0102
24th February 2017
A survey of 2,000 people by property and construction consultants McBains Cooper found one in four respondents said they spend around 40% of their income on rent. Within London, the number was slightly higher at 31% spending more than 40%. One-in-three renters said they expect to continue renting for the next five to ten years. In the 45-59 year old bracket, the figure was 52%, and 76% for 60+ year olds.
City AM (20/02/2017)
24th February 2017
The number of homeowners moving house in London last year fell to its lowest level for 25 years, according to the CML, with home-movers in the capital taking out just 32,400 loans in 2016, 10% fewer than in 2015 and the lowest number since the recession of 1991. The number of first-time buyers needing a loan also fell, as they took out 43,300 mortgages, a drop of 5% on 2015. The total number of home buyers in London in 2016 was the lowest for four years, the CML added
BBC News (22/02/2017
17th February 2017
Newspaper and magazine tycoon Richard Desmond has kicked off the £1bn transformation of the former Westferry printworks, setting in motion the creation of a “new town” next to Canary Wharf. Mr Desmond, the owner of the Daily Express and Daily Star newspaper titles and the OK!, new! and Star magazines, was present for the demolition of the 15-acre site, which will eventually host 722 homes, two parks, a waterfront promenade on the Millwall Outer Dock, a healthcare centre and a 1,200-space secondary school as well as shops, bars and restaurants. Northern & Shell won planning permission for the project last August, following objections to its lack of affordable housing, and a row with a local sailing club.
Evening Standard (13/02/2017)
17th February 2017
East Thames Housing Association has put 35 new shared ownership properties at Stratford Broadway on sale. Residents in the development, just 10 minutes from Canary Wharf on the Jubilee Line and DLR, have access to a private gym and communal roof-top terrace. Prices start at £112,500 for a 30% share in a one-bedroom apartment, each of which comes with a fully-fitted kitchen.
The Wharf (15/02/2017)
17th February 2017
House prices rose by £15,000 on average last year, according to a report produced jointly by the Office for National Statistics with other agencies. The main contribution to the increase in UK house price growth came from England, where house prices rose by 7.7% over the year to December, taking the average price in England to £236,000. Wales saw house prices increase by 4.7% over the year to stand at £148,000.. In Scotland, the average price increased by 3.5% over the year to stand at £142,000, while in Northern Ireland the average house price was £125,000, an increase of 5.7% over the previous year. The typical UK property value was £220,000 in December, said the report
The Independent (14/02/2017)
17th February 2017
Single buyers earning an average London wage will spend anything from five to 68 years saving for a deposit, according to a new report. It compares average house prices and wages for every London borough, and found that in Kensington & Chelsea, it would take 68 years to save for a deposit, as wages average £38,000 and homes sell for an average of £1.3m. Barking and Dagenham comes in at London's most affordable borough, where prices average £289,000 and the typical wage is £28,000.
Evening Standard (14/02/2017)