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21st October 2016
Figures from the Office for National Statistics indicate that house prices grew an average of 8.4% in the 12 months to August - higher than the 8% rate in the year to July and the nineteenth consecutive month of growth. House prices in the east of England grew at 13.3%, faster than the south-east and London, where the rate of growth was 12.2% and 12.1% respectively. Newham saw the strongest growth in the capital, with annual price increases of 23.7% taking the average to almost £373,000. The average UK house price was £219,000, which is £17,000 more than a year ago.
The Times (19/10/2016) Evening Standard (19/10/2016)
21st October 2016
Buying even the smallest London home for £120,000 or less will be impossible by the end of the year as prices continue to rise. Only a handful of studios on the eastern and southern fringes of the capital are still on the market at that price, 3.3 times workers’ average pay of £36,258. The sub-£150,000 band is expected to disappear from the market by 2020.
Evening Standard (17/10/2016)
14th October 2016
Barratt London has launched the latest phase of its 688-apartment Enderby Wharf development in Greenwich. Cook House, named after Captain James Cook consists of 104 studio, one, two and three-bedroom apartments. Residents will benefit from outstanding views over the Thames, a 24-hour concierge service, a private gym, and landscaped communal gardens as well as a car club, cycle storage, and close proximity to North Greenwich tube and Cutty Sark DLR. Prices start from £425,000.
The Wharf (06/10/2016)
14th October 2016
he Standard looks at plans for a £2bn regeneration of London’s Canada Water by British Land that could see the longest drawbridge in the world and London’s largest freshwater lake. Apartments are already for sale at Quebec Quarter, with 220 flats priced from £560,000. The Chipperfield Tower, encircled by waterside cafés, tennis courts, and an arthouse cinema, has 453 properties available for private sale, with 231 for shared ownership and the rest for private rent. Close by, properties at The Timberyard development near the former Grand Surrey Canal start from £432,000, while Barratt’s Greenland Place offers 562 apartments, priced from £398,000.
Evening Standard (12/10/2016)
14th October 2016
With the latest section of the London Underground opening a 24 hour service, the Standard looks at property prices along the Jubilee Line. Property near stations on the line are on average £25,000 lower than the other two Night Tube lines. Research shows that Canning Town is the most affordable stop, with a median price of £352,366. A £600m “town centre”, to be completed in 2024, forms part of a huge regeneration project. A terraced house can be found for around £300,000, while a three-bedroom penthouse at Rathbone Market will cost £650,000.
Bond Street is the most expensive station on the route, with median prices of more than £2.3m.
Evening Standard (07/10/2016)
14th October 2016
House prices in the three months to September fell 0.1% on the previous quarter, according to Halifax, but edged up month-on-month, with the average house price currently standing at £214,024. There was a 0.1% increase in property values between August and September, with a 5.8% rise in house prices year-on-year. This was down from a 6.9% annual growth rate recorded in August and the lowest annual growth rate since August 2013. The monthly increase comes after two consecutive months of falls following the Brexit vote, with decreases of 0.3% in August and 1.1% in July. Separately, in an analysis for Barclays Mortgages, the Centre for Economics and Business Research has calculated that each brick in a UK home is worth £47, on average. Studying the price and size of an average home to determine the sum, CEBR found that a brick in London is typically worth £121.08 compared with £22.09 in Belfast.
The Times (08/10/2016) The Independent (12/10/2016)