020 7538 0102
26th February 2016
In the fourth quarter of last year a record 18% of homes bought by first-time buyers in London were in the £500,000-plus bracket, according to the Council for Mortgage Lenders' latest data. For 2015 as a whole there were 7,000 first-time buyers in this category, 15% of the total. This compares with 12% in 2014 and just 3% a decade ago. The CML figures also reveal that for the first time, no debut buyers in London took out mortgages on homes valued at less than £125,000. The median mortgage advance to a first-time buyer in the fourth quarter of last year was also a record at £242,920. The typical deposit was 25%, or £80,973.
Evening Standard (24/02/2016)
26th February 2016
According to research from the National Housing Federation, Londoners would need a pay rise of 266% to be able to buy a home in the capital. Highlighting how property prices in the capital have spiralled, the report found over half of London boroughs require an average income of more than £100,000 in order to buy a home. David Orr, chief executive of the National Housing Federation, said: “A secure and affordable home should be available to everyone. Living in London doesn't have to mean living in cramped, overpriced, insecure accommodation.”
Daily Mail (24/02/2016)
19th February 2016
EcoWorld Ballymore has released a series of suites, one- and two- bedroom apartments at London City Island. The development features 1,700 homes on a 12-acre site on the Leamouth Peninisula, connected to Canning Town Station by its own bridge, spread across 10 apartment buildings. The site includes its own grocer, gym, restaurants, shops, creative hubs and al fresco spaces; the apartments themselves have been designed to a “warehouse aesthetic”, with open living spaces and loft-style features. One-bedroom suites are available from £342,500, with one- and two-bed flats starting from £430,000 and £600,000 respectively.
The Wharf (12/02/2016)
19th February 2016
Property management group Al Mubarakia has secured a £21m debt facility from Gatehouse Bank to fund the conversion of an office block at Sovereign Court, near Tobacco Dock in Wapping, into 124 one- and two-bedroom apartments. The project, part of a larger plan to develop the area around Tobacco Dock, is expected to take nine months to complete.
Property Week (18/02/2016)
19th February 2016
New data from LonRes shows that average values near the Olympic Park in London’s Stratford have grown from £171,081 in 2005 to £293,105 today, a 71% increase, while averages in the wider borough of Newham are up 47%. Since 2010, their average house prices have risen 60% and 43% respectively, compared with 36% across Greater London.
Evening Standard (10/02/2016)
19th February 2016
A new report shows that asking prices have hit a record high of almost £300,000, with sellers seeking an average of £299,287 across England and Wales so far in February. This marks a £8,324, or 2.9%, increase on the average asking price in January and is £2,738 above the previous high seen in October 2015. London and the east saw the biggest increases, with a 10.5% climb in the past year as averages hit £643,843 in the capital and the east seeing a 10.7% climb to £321,630.
The Daily Telegraph (15/02/2016)