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21st August 2015
London mayoral hopeful Stephen Greenhalgh has unveiled plans that would see boroughs and developers give essential pubic workers like police, nurses and fire fighters priority over new homes. He also called for 50,000 new homes to be reserved for people who have lived in the capital for three years or longer.
Evening Standard (20/08/2015)
21st August 2015
For the first time ever, more of London’s residents live to the east of London Bridge than to the west. The Evening Standard attributes this in part to the growth of the Docklands area, with one market commentator stating that “Once you catch the riverside bug, you'll never want to live anywhere else.”
Evening Standard (19/08/2015)
21st August 2015
Asking prices for homes coming onto the market fell by just 0.8% in August, according to Rightmove. The firm suggested that prices held up due to a reluctance by homeowners to put their own property on the market while house-hunters remained active. In London the drop was 1.3% to an average asking price of £606,826, and other parts of the south all saw falls of more than 1%. The biggest increase was in the northeast, where new sellers asked 1.2% more than in July, at an average of £149,051. In contrast, in the east Midlands, asking prices fell 1.4% to an average of £187,587.
The Times (17/08/2015)
21st August 2015
Tim Harford, writing in the FT, says that the high price of London property is a sign of its success as a city. He dismisses fears that its street life is disappearing as new apartment blocks are bought up as investments and left empty. He argues that what is happening is a process of regeneration and renewal and believes that the city still has a healthy mix of people.
Financial Times (15/08/2015)
14th August 2015
Homebuyers searching for an affordable property within striking distance of Canary Wharf could do worse than take a look at Bow. Just five stops from Canary Wharf, via the Devons Road DLR station, the new Merchants Walk development gives first time buyers the opportunity to own a home in Zone 2 from £140,000. The first phase of 40 shared-ownership homes has just gone on sale; 549 homes will be built over the next three years on the site of the former industrial estate, together with a host of shops, cafes, studios and offices.
Evening Standard, Homes & Property (12/08/2015)
14th August 2015
The latest RICS health check of the housing market shows that house prices rose for the sixth month in a row in July as demand climbed to its highest level in 18 months. The report found that the average number of properties for sale per surveyor dropped to a record low of 47 last month, with 9 out of 12 regions seeing a decline; the average per surveyor in London fell to its lowest since February 2014. A RICS spokesman said: “The lack of property for sale is causing a vicious cycle, as the limited choice on offer is deterring would-be movers and therefore restricting new instructions.”
Financial Times (13/08/2015) The Wharf (13/08/2015)