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A report by the Office for National Statistics (ONS) reveals that in 2023 42% of people aged between 15 and 34 were still living with their parents. This includes 60% of all 21-year-olds and 50% of 23-year-olds. Sarah Coles, head of personal finance at the investment platform Hargreaves Lansdown, said: "Flying the nest used to be a rite of passage, now it's a right reserved for those with plenty of money. Some 3.6m of those aged 20 to 34 are still stuck at home in their childhood bedroom.” She added: "In a huge number of cases it comes down to the fact they can't afford a place of their own". |
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The Sunday Times (19/05/2024) |
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Plans for a new set of tower blocks up to 35 storeys tall have been outlined for East Greenwich, beside the Grade II listed Enderby House, a 19th century pub once owned by the largest whaling and sealing company in Britain, Samuel Enderby & Sons. Planning documents from Buckley Gray Yeoman on behalf of Maritim View Limited show a total of 563 homes spread across three towers of three, 23 and 35 storeys tall respectively. A residential garden is planned between the three blocks with space for a café and shops also included. The plans will be discussed at a planning meeting for Greenwich Council on May 21st. |
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Evening Standard (15/05/2024) |
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A report suggests London is on course to become something of a "Manhattan-on-Thames" as almost 600 more future skyscrapers are planned to cram into gaps of the capital's crowded historic skyline. According to the 10th annual tall buildings report from think-tank New London Architecture, there are 583 tall buildings of more than 20 storeys in the pipeline, more than twice as many compared to the past decade. |
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Evening Standard (13/05/2024) |
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Figures published by the Greater London Authority (GLA) show that the number of affordable homes started in the capital the year to March 31 was just 3,244, the lowest number since at least 2008/09, when records began. Analysis shows that this includes 2,358 homes started by the GLA, which is led by the Mayor, and another 886 begun by private developers or housing associations. It also represents an 88% fall compared to 2022/23, when 27,824 affordable homes were started. |
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The Daily Telegraph (14/05/2024) |
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Estate agents are experiencing a dreary start to the selling season due to weeks of rain, which has affected the spring property market. Homeowners have been holding back from selling until their gardens and land look more presentable, while buyers have been delaying viewings until the weather improves. The rain has damaged gardens and land, making it unappealing for potential buyers. Research shows that the highest number of house sales are agreed in the four-month period from March to June, when rainfall is typically 42% lower than the rest of the year. The rain has also affected photographers' ability to take good pictures of properties, delaying marketing efforts. |
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The Times (11/05/2024) |
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Buyers with small deposits should consider looking beyond big name banks for the best mortgage deals, according to data analysis firm Moneyfactscompare.co.uk. Building societies typically offer lower rates for first-time buyers, and have also introduced innovative products in recent months. These smaller lenders are differentiating themselves from big banks by offering more flexible criteria for mortgage applications. Even when big banks offer lower rates, other fees associated with the mortgage can increase the overall cost. Rachel Springall from moneyfactscompare.co.uk advises first-time buyers to consider all costs and incentives associated with a mortgage before making a decision. |
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The Sun (11/05/2024) |