020 7538 0102
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)
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)