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13th April 2017
House price growth across the UK picked up in February, according to the Office for National Statistics (ONS), with prices up 5.8% in the year to February – an increase on January’s 5.3%. The annual increase is slower than the average growth of 7.3% seen in 2016. The ONS figures, which include cash sales, show that the average price of a property has risen to a record high of £217,502. England saw its average price climb 6.3% in the year, while in London they rose by 3.7% in the year to February, the slowest annual rate since April 2012. The data also reveals that the average first-time buyer is paying £183,857 for their home - up 7.3% on a year ago.
Daily Mail (11/04/2017)
13th April 2017
CML data shows that home buying activity increased by 7% in February compared to January - but is up just 2% on last year. Some 48,600 loans were handed out for house purchases in February, with 24,200 going to first-time buyers and 24,400 going to home-movers. The average amount borrowed by first-time buyers fell slightly in February, but the total amount borrowed was 12% higher than February 2016’s total.
The Daily Telegraph (11/04/2017)
13th April 2017
The Times looks at the Lifetime Isa (Lisa) and what it could mean for homebuyers. The paper notes that savers with a Help to Buy Isa can transfer money built up before April 6, 2017 into a Lisa without affecting their £4,000 allowance - but it must be done before the end of the 2017/18 tax year. Danny Cox, of Hargreaves Lansdown, says: "Help to Buy account holders should be considering their option to transfer to a Lisa. With the right planning this could increase their deposits and help them to get on to the property ladder quicker."
The Times (07/04/2017)
7th April 2017
The Standard looks at London’s Docklands, thirty years on from the opening of London City Airport. Once so desolate that Stanley Kubrick used it for location shooting in his Vietnam war movie Full Metal Jacket, the area has been transformed, primarily by the success of Canary Wharf, but also by the Docklands Light Railway, the 2012 Olympic Games over at Stratford, and the ongoing regeneration of the Royal Docks. Canary Wharf itself is enjoying an influx of luxury skyscrapers, including Herzon & de Meuron’s One Park Drive, where prices start at £575,000 for a studio, and £1.08m for a two-bedroom apartment. Nearby, South Quay Plaza has 888 homes, many situated in a 66-storey skyscraper with a luxury health club, dockside promenade and park, and a number of shops, bars and restaurants. Prices here start from £675,000.
Evening Standard (05/04/2017)
7th April 2017
A collection of 24 new homes have been put on the market at London City Island on the Leamouth Peninsula. The EcoWorld Ballymore development, named Best New Place to Live at the 2017 London Planning Awards in February, is within easy reach of Canary Wharf, via the Jubilee Line or DLR at Canning Town Station. The second phase of the project is currently under construction, with the London Film School and English National Ballet preparing to relocate there. Prices for the latest collection of homes start at £399,950 for a studio, £450,000 for a one-bedroom apartment, £635,000 for a two-bed, and £800,000 for a three-bed home.
The Wharf (03/04/2017)
7th April 2017
Total net completions in London, including sub-market and intermediate housing provision, are expected to peak at 46,500 this year, ahead of the minimum 42,000 homes a year target set by the London Plan, before falling sharply from next year. It is estimated that 58% of demand is for homes costing less than £450 per sq ft, which accounts for just 15% of the five year build forecast, while in comparison, oversupply was particularly acute above the £1,000 per sq ft price point.
The Daily Telegraph (04/04/2017)