020 7538 0102
7th August 2015
Nearly half of all stamp duty revenue raised in England and Wales is generated through property sales in London, according to data showing the impact of last year’s reforms. Research by Knight Frank has shown London accounted for 13% of all property transactions in England and Wales in the first three months of this year, yet contributed 46.9% of total stamp duty revenues. Prior to the introduction of stamp duty reforms in the Autumn Statement, London sales accounted for 43% of total revenues. At the same time, the data show that homes valued at £1m or more contributed 34% of all stamp duty receipts, compared to 26% a year previously.
7th August 2015
Knight Frank's latest quarterly index of luxury property shows that prices of prime London homes edged up by 2% in the last year.This places it 21st for price growth in a list of 35 cities monitored by Knight Frank.Vancouver, Miami and Sydney were the top performers with prime prices increasing by 15%, 14% and 13% respectively in the year to June. Knight Frank said the index has risen for 22 consecutive quarters, but the pace of growth almost halved in the last year with annual growth falling from 5.2% to 2.5%.
Daily Mail
31st July 2015
Canary Wharf Group has launched registration for homes at its first-ever non-Canary Wharf development - Southbank Place, formerly known as the Shell Centre. The company is planning a £1bn renovation of the 27-storey site, which will include 868 homes, 530,000 sq ft of office space and 48,000 sq ft of retail space when it's completed in 2019.
City AM
31st July 2015
Canary Wharf Group has won planning permission from Tower Hamlets Council for a residential tower at the estate’s new phase, known as Wood Wharf. The 57-storey building will comprise 468 apartments ranging from studios to large three bedroom units and is situated on the edge of South Dock, directly to the east of the existing Canary Wharf estate. Designed by architects Herzog & de Meuron, the cylindrical residential tower will form a key part of the new residential offering at Canary Wharf.
Property Week
31st July 2015
Land Registry figures reveal that the central London property boom has come to a sudden halt with prices flat-lining in the most expensive neighbourhoods. Higher stamp duty rates on homes worth more than £1m and a slowdown in sales that started in the run-up to the election have hit the central London property market. In Westminster, for example, values rose 1.3% year on year and 0.3% during the month.
Evening Standard
31st July 2015
Research by Experian reveals that central London dominates the ten worst locations for first-time buyers as a percentage of the local population, with the boroughs of Lambeth, Camden, Hammersmith and Fulham, Westminster and Kensington and Chelsea all featuring in the bottom ten. Richard Jenkings, a senior consultant at Experian, said: “The majority of first-time buyers in London are living in the outer boroughs and particularly those in the more affordable south and east of London. The central areas have become inaccessible.”