020 7538 0102
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)
7th October 2016
Developer Cubitt Property Holdings and architect Make have submitted new plans to Tower Hamlets Council for a residential tower at 225 Marsh Wall, on the Isle of Dogs. Plans for a 56-storey structure containing 414 apartments were withdrawn by the developer in June; despite having the backing of then-Mayor Boris Johnson, planning officers had recommended that they be rejected, on the grounds that the site sought to “maximise, not optimise the development potential of the site”, by not containing enough family housing. The new 49-storey structure is 23m shorter than previous plans, with 336 apartments; 272 have been earmarked for private sale, with 147 one-beds, 112 two-beds and 11 three-beds. The new plans also give more of the site over to public open space.
The Wharf (05/10/2016)
7th October 2016
Demand for detached properties in London has taken the average price beyond £1m, according to a new report. The pressure on valuations has been increased by the small number being built in the capital - just 300 in the past year - and they now account for less than 5% of housing stock.
Evening Standard (06/10/2016)
7th October 2016
HMRC data reveals the amount of stamp duty collected on house sales in London rose by 11% in 2015-16 to reach £3.4bn. The increase - following the introduction of new rates at the end of 2014 - represents a £340m rise in stamp duty receipts in the capital. The number of transactions in London was up by just under 4% over the year, at 159,000.
The Guardian (30/09/2016)
7th October 2016
Growth in UK house prices slowed in September, according to the latest Nationwide index. Average prices increased by 0.3% to £206,015, following a 0.6% rise in August. It brought the annual pace of growth down to 5.3% in September from 5.6% a month earlier. In London, the annual rate of growth fell from 9.9% in the second quarter to 7.1% in the third.
The Daily Telegraph (30/09/2016)
7th October 2016
An online listing for a ‘luxury’ room in London’s Canada Water district has attracted scorn from potential renters appalled by its small size and description as ‘big and bright’, despite picture evidence seemingly to the contrary. The poster is seeking £140-a-week for the room which contains a mattress touching three walls and a wardrobe.
The Daily Telegraph (03/10/2016)