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24th June 2016
The number of homes sold in the UK in May was almost 14% lower than in the same month last year, according to fresh figures from HM Revenue and Customs. There were 84,300 homes sold in May 2016, compared to 97,820 in May 2015, with monthly property sales peaking in March, at 171,220, making it the busiest month for sales in the last decade as investors rushed to beat the increase in stamp duty. The number of homes sold in April, immediately after the new tax was introduced, dropped to 74,590. HMRC stressed that while the number of homes sold in April and May this year was lower than the corresponding months last year, the total number of homes sold in March, April and May was in fact higher.
The Daily Telegraph (22/06/2016)
17th June 2016
Plans from developer Make for one of the tallest residential skyscrapers in London are set to be rejected because the building is overwhelmingly aimed at singles. Aman Dalvi, Tower Hamlets Council’s director of development and renewal, said the emphasis on small flats at 225 Marsh Wall, on the Isle of Dogs, did not “provide adequate family accommodation”. The proposal is for 414 residential units, with 326 for private sale and 88 affordable units. The final decision will be taken by Mayor Sadiq Khan, who has the power to overrule the council. Former mayor Boris Johnson was known to support the proposals.
Evening Standard (14/06/2016)
17th June 2016
Countryside has launched the latest range of homes in the Millennium Terrace building at Greenwich Millennium Village. Designed by architects Jestico and Whiles, 43 one-, two- and three-bedroom apartments are available, along with duplexes, and what the developer has dubbed “überhauses” – luxurious apartments with light-filled interiors, spacious terraces, and a winter garden. All apartments in the building, however, come with a balcony or terrace – potentially boosting the value of the property by 12%.
The Wharf (13/06/2016)
17th June 2016
London property costs £4,922 per sq m - more than any other capital of nations competing in Euro 2016. The figure means property values in England’s capital are more than ten times that of the cheapest capital, Turkey's Ankara, where property is £451 per sq m. Paris, Bern, Stockholm and Rome round off the top five most expensive capitals. Belfast is the 17th cheapest of the 24, only slightly less expensive than Dublin at 18th, while Cardiff is the sixth cheapest at £1167 per sq m.
The Mail on Sunday (12/06/2016)
17th June 2016
Research from Wellesley Finance shows 61% of Britons who think their house price will fall if Britain leaves the EU worry it will take five years or more for the value to recover, with 29% thinking it will take ten years or more. Fears are even higher in London, where 72% think it will take five years or more for the property market to heal. Graham Wellesley, of Wellesley Finance, said: "We believe that the short-term drop in property prices is due to the short-term uncertainty. Prime in central London above £1.5m have seen a slowdown already due to changes in stamp duty and the availability of funding. The property market under £1.5m appears to be stronger".
City AM (14/06/2016)
17th June 2016
Halifax research shows that average property prices per sq m have risen 432% over the past 20 years in London, compared with a national average of 251%.
The Sunday Times (12/06/2016)