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8th April 2016
Fifty-six per cent of those polled by ComRes have said housing is now one of the most important challenges facing London. The survey also indicated the average price considered affordable, for buying a two-bedroom house in London, is £208,000, with the average price considered affordable for renting £646 per month. BBC News notes that figures from the Valuation Office Agency show the median monthly rent in London was £1,400 in the year 2014/15.
8th April 2016
An £80m aparthotel on the Commercial Road is set to go ahead, with funding from Osprey Equity Partners. The 178-unit, 21-storey tower is being developed by Reef Estates and the Sharma family. Simon Lee, co-founder of Osprey, said: “the London aparthotel sector…remains materially under supplied relative to other gateway cities and significantly undervalued in comparison to the student and PRS sectors”.
8th April 2016
Residential property prices in East London grew 7% in the year to March, according to research published earlier this week by JLL, offsetting weaknesses in other parts of the capital. Prices in the Stratford environs increased 7%, outstripping the West End and Central West areas, where prices fell by 2.9% and 5.3% respectively.
8th April 2016
London mayoral candidates Siân Berry (Green Party), Zac Goldsmith (Conservatives), Sadiq Khan (Labour) and Caroline Pidgeon (Liberal Democrats) reveal their housing policies for the Guardian. Mr Khan says he will encourage big business to invest in London’s housing market and ensure that residents come first in the housing queue, while Ms Berry wants to see more cooperatives and self-build to tackle the capital’s housing crisis. Mr Goldsmith wants to improve areas without locking out residents, and explains why he welcomes overseas investment in housing; Ms Pidgeon explains her plans for rogue landlords, and pledges to create a city-wide construction academy for housebuilding.
The Guardian
1st April 2016
Land around London's historic Royal Docks is to be released for new home building under proposals put forward for consultation by the city’s Mayor. Chinese developer ABP has secured planning permission for a large financial and business district at Royal Albert Dock, Property Wire notes, and the Silvertown Partnership has already begun restoring Millennium Mills at Silvertown Quays to deliver over 3,000 homes.
1st April 2016
The Daily Express' Deborah Stone details £3.5bn plans for Canada Water, the former docklands district area, including the creation of 5,000 new jobs, 3,000 homes in the Russia Dock Woodland, Stave Hill Park and Silvertown areas, and a projected £260m boost to the London economy. "We anticipate a good deal of interest from young families, as well as young professionals and first-time buyers for the smaller units,” says Cathy Lloyd, sales and marketing director for L&Q.
Daily Express