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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)
10th June 2016
Property developer ABP is reportedly in talks with Brookfield Multiplex regarding the delivery of the first phase of the £1.7bn Royal Albert Dock development close to London City Airport. The 4.7m sq ft project is primarily offices, but also includes provision for residential, retail, and public space. The £240m first phase is due to be complete in 2018, just in time for the opening of Crossrail.
Construction Enquirer (08/06/2016)
10th June 2016
The £3.5bn, 62-acre Silvertown Quays development in the Royal Docks has been shortlisted in the future economic growth category at the 2016 Planning and Placemaking Awards, in recognition of its anticipated economic benefits and contribution to the community. The development, the first phase of which should be complete in 2018, is set to create 21,000 jobs and 3,000 new homes. The awards ceremony will be held on June 23rd.
The Wharf (08/06/2016)
10th June 2016
London Mayor Sadiq Khan has told the Standard that he cannot solve the capital’s housing crisis overnight, adding that in the short term the city will be delivering homes that predecessor Boris Johnson gave permission for – “and they are not affordable.” Mr Khan says he wants to create diversity of homes in the capital with “first dibs for Londoners,” adding that this will include “a role for council homes, a role for a new type of rental property called a London living rent [in new builds where the rent will be capped at a third of the average local earnings] and a role for shared ownership”.
Evening Standard (08/06/2016)
10th June 2016
Research from JLL shows it is possible to buy a home in London’s Zone 1 for less than £600,000, and in Zone 3 for under £215,000. Nick Whitten, residential research associate director at JLL, said the capital’s affordability issues are “well documented,” but suggests “the good news is that there are still relatively affordable one-bedroom flats on the market."
Evening Standard (09/06/2016)