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4th November 2016
New images have been published of Greenland Group’s £800m, 67-storey, 235m-high Spire London tower, in West India Quay - revealing the structure’s decidedly suggestive shape when viewed from above. Architects Larry Malcic and Christopher Colosimo say it is intended to resemble the petals of an orchid; however, its outline has led many to wonder if the Gherkin has lost its status as the most phallic building in the capital. Apartments in Spire London start at £600,000, with the most expensive available for around £3m. Residents will enjoy the use of an array of luxury amenities, including a concierge, gardens, and an infinity pool promising spectacular views over the capital.
City AM (02/11/2016)
4th November 2016
Savills has predicted that there will be a dramatic slowdown in house price growth in the next five years as economic uncertainty over Brexit disrupts the housing market. Prices will grow by a modest 2% in 2018. Savills added that house prices across the UK will rise 13% in the next five years, fuelled by a 5.5% jump in 2019 as the negotiations to leave the EU bring certainty to the market. In London this figure is 10.9%. The growth is forecast to be weaker than the increase in rental prices, which will rise by 19% across the UK in the next five years, and 24.5% in London.
The Times (03/11/2016)
4th Novemner 2016
EastEnders beats Britain's other major soap operas when it comes to property values. A study by the CEBR for Barclays Mortgages estimated the average brick in a home in Albert Square to be worth nearly £150. Emmerdale came second at nearly £50, followed by Hollyoaks, Coronation Street and River City.
The Independent (01/11/2016)
28th October 2016
Newham Council has granted planning permission for the 62-acre Silvertown Quays project in the Royal Docks, paving the way for the construction of 3,000 homes, of which over 1,000 have been classified as affordable. The £3.5bn scheme is a partnership between the Greater London Authority, which owns the land in Newham, and the Silvertown Partnership. Work has already begun on the site, based around the 1930s Millennium Mills building which used to house a flour factory, with 500 tonnes of asbestos already removed. The new residential communities will be built alongside more than 50 commercial buildings for offices and showrooms, alongside new parks, schools and health facilities.
Evening Standard (21/10/2016) Property Week (24/10/2016) City AM (24/10/2016)
28th October 2016
In the three months since the referendum the average price cut on homes across most of London’s Zones 1 and 2 was a record £100,131, according to property analysts LonRes, compared to £59,573 in the same period last year. LonRes calculates that the price of 46% of central London homes sold since the Brexit vote have had to be adjusted before sale, compared with 36% in the same period of 2015.
Evening Standard (25/10/2016)
28th October 2016
Barratt London has updated the iconic Monopoly board to reflect 2016 prices. Whitechapel Road in Tower Hamlets, traditionally the second-cheapest in the game, is still on a brown square but has risen from £60 to £536,606. Mayfair remains the most expensive in the game, up from £400 to £3,092,166. The developer has also created a separate version of the board, for the most affordable boroughs; Newham sits on a blue square, at £403,842, Greenwich orange at £461,957, Tower Hamlets yellow at £601,449, and Hackney blue at £659,868.
The Wharf (24/10/2016)