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11th November 2016
The final phase of a new development in Canning Town - recently named as the most affordable location for property on the Jubilee Line - has just been put on the market. Part of Countryside’s 649-home East City Point project, Lexicon Terrace is a mixture of one- and two-bedroom flats, three-bedroom “Überhauses”, and three-storey townhouses. The open-plan one-beds start from £320,000, come with fitted kitchens, bathroom suites, and a balcony or terrace, are within easy reach of both Canary Wharf and the soon-to-open Crossrail station at Custom House.
The Wharf (08/11/2016)
11th November 2016
London Mayor Sadiq Khan says issues such as the capital’s housing crisis “are complicated and entrenched” and their “is no magic wand” to fix them overnight. Tackling such matters, he insists, “will be a marathon not a sprint.” Analysis by the Standard of Mr Khan’s first six month in the role says he has made “encouraging first steps” on housing but “time is tight” when it comes to dealing with the shortage of housing and affordable homes. Meanwhile James Murray, deputy mayor for housing, says he is determined to continue building shared-ownership property, to help alleviate the capital’s housing crisis and help buyers to get on the property ladder. He has also proposed new planning rules, including an offer that developers who voluntarily agree to designate 35% of homes in new schemes as affordable can fast track their planning applications.
Evening Standard (08/11/2016) Evening Standard (07/11/2016)
11th November 2016
According to the credit-checking agency Experian, rising rents and falling mortgage payments mean that it is now cheaper to buy a home than to rent one in 13% of the country. Rents have also risen in 217 districts of the 372 local authority districts in the past year and mortgage payments have fallen in 248. findings suggest that if they could raise a deposit many of the UK's 4.3m private tenants would find their mortgage repayments to be affordable, Jonathan Westley, of Experian, noted.
The Times (07/11/2016)
4th November 2016
Developers Ballymore and Oxley have launched the latest phase of their Royal Wharf scheme: the 70-apartment John Cabot House development. Named for the navigator and explorer who led the first European expedition into North America’s interior since the Vikings, the development is close to Royal Wharf’s high street and market square, with views over Lyle Park, and is set around a courtyard styled on the Georgian architecture of Belgravia and Fitzrovia. Prices start at £335,000, with one-bedroom apartments available from £405,000, two-beds from £550,000 and three-beds from £645,000.
The Wharf (28/10/2016
4th November 2016
New images have been published of Greenland Group’s £800m, 67-storey, 235m-high Spire London tower, in West India Quay - revealing the structure’s decidedly suggestive shape when viewed from above. Architects Larry Malcic and Christopher Colosimo say it is intended to resemble the petals of an orchid; however, its outline has led many to wonder if the Gherkin has lost its status as the most phallic building in the capital. Apartments in Spire London start at £600,000, with the most expensive available for around £3m. Residents will enjoy the use of an array of luxury amenities, including a concierge, gardens, and an infinity pool promising spectacular views over the capital.
City AM (02/11/2016)
4th November 2016
Savills has predicted that there will be a dramatic slowdown in house price growth in the next five years as economic uncertainty over Brexit disrupts the housing market. Prices will grow by a modest 2% in 2018. Savills added that house prices across the UK will rise 13% in the next five years, fuelled by a 5.5% jump in 2019 as the negotiations to leave the EU bring certainty to the market. In London this figure is 10.9%. The growth is forecast to be weaker than the increase in rental prices, which will rise by 19% across the UK in the next five years, and 24.5% in London.
The Times (03/11/2016)