020 7538 0102
4th September 2015
A new relaxation of planning rules will make it easier for developers to build on smaller spaces in the capital. However, London boroughs will be able to prevent what has been termed a potential 'building stampede' by giving areas conservation status. There are currently around 1,000 conservation areas in the city and this number could grow as a result of these new regulation changes.
Evening Standard
28th August 2015
Bellway Homes’ New Festival Quarter is one of the largest housing schemes in the Poplar area, with almost 500 new homes being built on a site opposite Bygrove Primary School, rated 'outstanding' by Ofsted. Full market prices are nudging towards the £500,000 but housing association Family Mosaic has a selection of shared-ownership homes aimed at first-time buyers. One-bedroom flats start at £97,500 for a 30% share, and buyers must have a household income of between £34,846 and £71,000. They will need to pay £379.17 a month in rent, plus their mortgage and a monthly service charge of £110.27. New Festival Quarter is designed by award-winning architects Stock Woolstencroft and most flats feature private balconies or terraces, rooftop gardens and small residents’ parks. Two-bedroom flats start at £118,000 for a 30% share and three-bedroom flats from £455,000.
Evening Standard
28th August 2015
New home building in Canary Wharf, accompanied by new infrastructure and amenities, is set to reinforce the area’s position as a prime residential address. Already home to vibrant shopping malls, as well as more than 300 shops, cafés, supermarkets, bars and restaurants, Canary Wharf is already an attractive residential environment as well as a business centre. Property prices in Canary Wharf have risen by 27% since early 2013, comfortably outstripping the 10% growth seen across prime central London over the same time. There are 14 schemes of around 400 units or more already under construction, or with full planning, on the Canary Wharf Estate and on nearby Isle of Dogs. Canary Wharf is currently primarily home to younger residents, with those under 40 reportedly making up a much larger proportion of buyers and renters than in other prime London neighbourhoods.
Property Wire
28th August 2015
The prospect of an interest rate rise has prompted many homeowners to lock into more competitive mortgage deals. The British Bankers' Association said remortgaging rose nearly 29% in July, helping push up the number of overall loans approved for home loans up by 15% year-on-year to 77,451, with a total value of £12.3bn. Some 46,033 mortgages with a total value of £7.8bn were approved for house purchase in July, up from £7.7bn in June and 11% higher than a year earlier - marking the highest monthly figure recorded since February 2014. The number of remortgage approvals leapt to 24,400 with a value of £4.1bn last month, up from 24,183 at £4bn in June. Total mortgage borrowing was £11.8bn, 11.5% higher than a year ago, the BBA said.
The Times
28th August 2015
A study by Barclays Wealth has found one in every 65 adults in Britain is now a millionaire. There are 715,000 millionaires in the UK, a 40% increase on 2010, according to the research. Paul Swinney, senior economist at think-tank Centre for Cities, which helped compile the research, said: “Property prices have been a very strong driver in pushing up the number of millionaires. The rise in house prices, particularly in London, in the last five years has been incredible, pushing many people's assets over £1m.”
The Guardian
The Evening Standard’s Amy Williams explores why E20, the postcode of London’s Olympic district, is being called the capital’s trendiest new hotspot. She highlights the property on offer, including the 3,000 home East Village which served as the athlete’s village during the 2012 Olympics, as well as the independent retail offerings, quirky cafes and sense of community.
Evening Standard (20/08/2015)