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2nd October 2015
Writing in the Telegraph, Richmond Park MP and Conservative candidate for Mayor in 2016 Zac Goldsmith says London faces a 1.5m increase in its population by 2030 and a change in housing policy is needed if that figure is to be viable. He says there are 3,500 housing estates approaching the end of their lives in the city which are ripe for redevelopment into low-rise, high-density streetscapes. He also reveals that a land commission for the capital is set to identify all of the brownfield land in public ownership to uncover developable sites as the city needs to create 50,000 new homes a year. Mr Goldsmith calls for a pan-London investment fund that would directly finance a new generation of homes for investors seeking long-term, low-risk, medium-return investments.
The Daily Telegraph (29/10/2015)
2nd October 2015
A report from shadow housing minister John Healey and Labour mayoral candidate Sadiq Khan suggests that London house prices will rise to £751,000 by 2020, meaning the average 20% deposit could be £150,000. The report also claims that rent could cost £21,000 a year by 2020.
Evening Standard (29/10/2015)
2nd October 2015
The FT examines the London Underground Rent Map, a tube station map that also displays the average monthly cost of renting a one-bed flat within a one kilometre radius, which has gone viral on social media. The average rent for a one-bed flat within walking distance of a Tube station is said to be £1,327 and of all the Tube stations in London, only a quarter have one beds to rent costing £1,000 a month or less. Canary Wharf comes in slightly above the average, at £1,544; Canning Town will set a renter back £1384, Canada Water £1340, and Bromley-by-Bow £1228.
Financial Times (01/10/2015)
2nd October 2015
Research from Savills shows that number of London wards where properties have an average sale price of more than £1m has risen from 17 to 50 in five years. The number of wards where average house prices are between £750,000 and £1m has also climbed, with 53 now in the category.
The Times (02/10/2015)
2nd October 2015
The latest Nationwide House Price Index shows that the divide between property values in the north and south of England has reached a record, exceeding £150,000. Average prices in the south have hit £303,811 while those in the north are £150,851. Values in the south-east climbed 5.5% in the year to September, with those in the south-west up 5.1%. The north-west was the worst performing region, with values down 0.6%. London saw year-on-year price growth leap from 7.3% in the second quarter to 10.6% in the third.
The Daily Telegraph (02/10/2015)
25th September 2015
25th September 2015
Thousands of micro-homes should be built as part of a plan to tackle London’s housing crisis, architect John McAslan has claimed, and that radical changes are needed to prevent London's housing shortage from undermining its ability to remain a leading global city. In micro-housing schemes, residents would live in spaces as small as 250 sq ft and Mr McAslan added that the idea would double the number of younger Londoners able to buy property. Currently, on average, people in rented housing in London spend half their income on rent, rising to 60% in some parts of the city.
Evening Standard, (22/09/2015))