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18th November 2016
House prices across the UK have risen 7.7% in the past year to an average of £218,000, the latest data from the ONS and the Land Registry shows.. However, the number of sales continue to fall, with current levels remaining lower than in 2014, 2015 and the start of this year. The biggest price rises were seen in the east of England (12.1% to £277,000), London (10.9% to £487,000) and the south-east (9.9% to £313,000). London prices remain more than double the national average.
The Daily Telegraph (15/11/2016)
18th November 2016
Mortgages are now more affordable than they have ever been, according to the Council of Mortgage Lenders (CML), which said the figures represented a historic low and should help more people to buy their own home. In September, the CML said, the average homeowner - excluding first-time buyers - spent 17.7% of his or her monthly income on mortgage repayments. First-time buyers are spending 17.8% of their income servicing their mortgages, compared with 24.7% in November 2007, a recent high.
BBC News (15/11/2016)
18th November 2016
Donald Trump’s victory in the US presidential election has seen a spike in internet searches from Americans contemplating a move across the Atlantic, writes Helen Davies in the Times. Rightmove and Zoopla both reported a rise in searches originating from the US. Zoopla saw traffic 45.3% higher than the average for the previous 30 days on November 9th, while Rightmove reported a 393% increase in American visitors looking at UK property on polling day and the day after.
The Sunday Times (13/11/2016)
11th November 2016
A number of planned new river crossings east of Tower Bridge could provide the catalyst for a large-scale housebuilding programme, according to Centre for London. The think-tank says that new bridges and tunnels could open up land for at least 50,000 new homes, cutting commuting times and connecting isolated sections of East London with better-populated areas. London Mayor Sadiq Khan has committed to develop three new crossings on the stretch of river between Canada Water and Beckton: a cycle-pedestrian bridge connecting Rotherhithe and Canary Wharf, a ferry between Canary Wharf and North Greenwich, a tunnel linking the Greenwich Peninsula and West Silvertown, and a new DLR crossing between Gallions Reach and Thamesmead. David Leam, infrastructure director at London First, praised the plans: “Better river crossings will help unlock the economic potential of east and south-east London and connect thousands of new homes in Newham, Barking, Greenwich and elsewhere”.
Evening Standard (08/11/2016) Property Week (28/10/2016)
11th November 2016
The final phase of a new development in Canning Town - recently named as the most affordable location for property on the Jubilee Line - has just been put on the market. Part of Countryside’s 649-home East City Point project, Lexicon Terrace is a mixture of one- and two-bedroom flats, three-bedroom “Überhauses”, and three-storey townhouses. The open-plan one-beds start from £320,000, come with fitted kitchens, bathroom suites, and a balcony or terrace, are within easy reach of both Canary Wharf and the soon-to-open Crossrail station at Custom House.
The Wharf (08/11/2016)
11th November 2016
London Mayor Sadiq Khan says issues such as the capital’s housing crisis “are complicated and entrenched” and their “is no magic wand” to fix them overnight. Tackling such matters, he insists, “will be a marathon not a sprint.” Analysis by the Standard of Mr Khan’s first six month in the role says he has made “encouraging first steps” on housing but “time is tight” when it comes to dealing with the shortage of housing and affordable homes. Meanwhile James Murray, deputy mayor for housing, says he is determined to continue building shared-ownership property, to help alleviate the capital’s housing crisis and help buyers to get on the property ladder. He has also proposed new planning rules, including an offer that developers who voluntarily agree to designate 35% of homes in new schemes as affordable can fast track their planning applications.
Evening Standard (08/11/2016) Evening Standard (07/11/2016)