020 7538 0102
5th May 2017
UK parents are set to contribute towards 26% of property transactions in the UK this year – or 298,000 deals. In total, parents will pay over £6.5bn to help their children buy a home in 2017, up from £5bn last year, according to a report by Legal and General and the Centre for Economics and Business Research, with the average contribution rising from £17,500 to £21,600. This makes the “Bank of Mum and Dad” equivalent to the ninth largest mortgage lender in the UK, Yorkshire Building Society.
The Daily Telegraph (01/05/2017)
28th April 2017
Galliard Homes has launched its Orchard Wharf development, a 338-home project located between Canary Wharf and Royal Docks, set around a centrepiece 23-storey tower. The one-, two- and three-bedroom homes, duplexes and penthouses range from 470sq ft to 1,679sq ft in size, and all have either private balconies, terraces or gardens, most of which feature a view of the Thames. Designed by BUJ Architects, the properties feature floor-to-ceiling windows with dark metal frames, along with fully-fitted kitchens with integrated Smeg appliances, underfloor heating, and white bathroom suites. Prices start at £399,000.
The Wharf (20/04/2017)
28th April 2017
London Mayor Sadiq Khan is to subsidise ultra-basic "naked" homes which will include no partition walls, no decoration and offer only basic plumbing. These will sell for up to 40% less than standard new-builds, with prices expected to range between £150,000 and £340,000 – compared to the average London asking price of £580,000. The freehold will be retained by the council and owners will pay ground rent. Mr Khan commented: “Community-led housing offers the chance to build new homes that Londoners want to live in”.
The Guardian (24/04/2017)
28th April 2017
The number of properties for sale has reached a record low, according to the National Association of Estate Agents. It says there were an average of 39 homes for sale per estate agent branch, compared to 44 in February - the lowest figure the NAEA has recorded for the month of March since it started measuring it in 2002. Annually, supply is down 28%, with ten house hunters currently chasing each available property, NAEA said.
The Times (27/04/2017)
28th April 2017
A survey from Halifax shows that expectations for the property market are subdued. Although 58% of respondents expect prices to climb in the next 12 months, most expect increases of less than 5%, while 14% expect prices to fall and 23% predict values will remain the same. Regionally, those polled were most optimistic about the likelihood of growth in Wales and most pessimistic about London’s chances of seeing values climb.
Daily Mail (21/04/2017)
21st April 2017
Ahead of the London Marathon, the Standard looks at property along the route, noting that prices have more than tripled in value since 2000 to an average of £700,000. However, the figure is skewed by values east of Tower Hill, as the 26-mile course draws to its conclusion on the Mall, where properties in St James’s cost in the region of £1.6m; the ongoing regeneration of the Docklands area has brought with it a number of more affordable sites that are sure to rise in value in the next few years. Canary Wharf remains the jewel in the crown of the region, with One Park Drive the latest in a new wave of luxury skyscrapers on the horizon. Prices at the 58-storey tower, designed by Tate Modern architects Herzon & de Meuron, start at £575,000 for a studio and £1.08m for a two-bedroom apartment. Neighbouring Limehouse (£528,694), Greenwich (£544,899) and Deptford (£418,949) also offer great value, while at Woolwich – soon to enjoy rapid connections to Canary Wharf via the Elizabeth Line – properties can be found for £328,866.
Evening Standard (19/04/2017)