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5th June 2015
UK mortgage approvals rose to their highest level for 14 months in April, data shows, but analysts do not expect this to lead to runaway house prices. There was a 10% rise in the number of mortgages approved for house purchases from March to April, the biggest month-on-month increase since 2009. This took the total to 68,706 in April, the Bank of England said, far below a peak of 129,996 in November 2006.
The Times (03/06/2015)
5th June 2015
The latest Land Registry house price index shows there are now only three boroughs in London where an average home costs less than £304,205, the average budget of a first-time buyer in the capital, according to a new study. The areas are Barking and Dagenham, average price £274,173, Bexley, average price £287,732 and Newham, average price £295,306.
Evening Standard (03/06/2015)
5th June 2015
A £100m property development in London is offering residents a 24-hour room-service from Harrods. The apartments, in the Grade II listed development on Connaught Place, with views of Hyde Park, will allow residents to ring down to reception and demand food, gifts, flowers and other luxury items from the upmarket store. The concierge can also arrange chauffeured limousines and organise helicopter and private jet access via the Harrods Private Air service.. Prices range between £11.75m to more than £20m.
Daily Telegraph (02/06/2015)
29th May 2015
The Evening Standard’s Homes and Property section profiles Surrey Quays. It says that striking architecture, fast links to Canary Wharf and a second phase of regeneration are pulling in young professionals and encouraging the newcomers to stay. The paper adds that the original of the area saw the network of canals create quiet and peaceful residential backwaters, while ecological parks and woodlands provided a green lung. While today Surrey Quays is entering a second phase of regeneration, with a striking new library, public square and luxury flats all been built. Developer British Land is also consulting on plans to redevelop the shopping centre, leisure park and the former Daily Mail printworks. Another key feather in Surrey Quays’ cap is that all the districts primary schools are judged to be “outstanding” or “good” by Ofsted.
The Evening Standard
29th May 2015
There was a "significant pre-election jump" in the number of mortgage applications being approved, according to the High Street banks. The number of approvals rose 7% in April from March to 42,116, said the British Bankers' Association (BBA). That is the fastest rise since September 2013, and the highest number for 10 months. The BBA said one reason may have been the abolition of Stamp Duty on house purchases in Scotland. Some reports had suggested the housing market slowed down before the election, as richer buyers worried about Labour's proposed Mansion Tax on homes worth more than £2m. But the BBA figures indicate that was not the case. "There was a significant pre-election jump in mortgage approvals which we would expect to continue in the coming months," said Richard Woolhouse, chief economist at the BBA. However, Matthew Pointon, housing economist at Capital Economics, said the mortgage market was unlikely to take-off as it did in the second half of 2013. "A lack of available stock continues to dissuade buyers from the entering market," he said.
The Daily Telegraph
29th May 2015
A voluntary scheme aimed at improving rental standards has been criticised after only 12% of London landlords signed up in a year. City Hall said as of May 2015, 14,350 of private sector landlords had signed up to the London Rental Standard. Labour said the scheme was "failing renters" and the mayor's pledge to sign up 100,000 landlords by May 2016 would take decades. But, the deputy mayor of housing said the scheme had been a "huge success". The standard, launched last May, offers letting agents and landlords a badge if they meet a set of criteria, including improved property conditions and quicker repairs and maintenance. It combines seven separate accreditation schemes under a single framework.
BBC News