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10th July 2015
Prices at the top-end of London's housing market fell 0.9% in the quarter to the end of June for the first time since 2009, according to research published in the Financial Times. Anthony Payne of data provider LonRes, said London's luxury housing market had been "growing far too quickly", and called the slowdown “good news”. The figures also show that the slowdown has affected deal volumes with the number of transactions of London's luxury properties falling by nearly a quarter year-on-year.
Financial Times (04/07/2015)
10th July 2015
The latest figures from Nationwide indicate that first-time buyers in London are now having to find more than nine times the average salary to buy a home.However, separate figures from Nationwide suggest that low interest rates mean the proportion of first-time buyers’ income going on mortgage payments is below previous peaks.
The Mail on Sunday (05/07/2015)
10th July 2015
The Halifax house price index shows that the average UK property now costs £200,280, with prices up by 1.7% in June compared with May in a fourth consecutive monthly rise. According to Halifax economist Martin Ellis, the main factor in maintaining a steady house price growth in 2015 has been a continued shortage of properties up for sale. Howard Archer, economist with IHS Global Insight, has forecast an overall 6% rise in house prices for 2015, but warns that data from Halifax has, overall, been more volatile than other house price measures over the past few months. Nationwide, for example, last week said the pace of increases was at a two-year low.
The Guardian (09/07/2015)
3rd July 2015
Greenland Group is showing off its latest proposals for the 67-store Hertsmere House, at a two-day public exhibition at the London Marriott West India Quay. Detailed plans for Europe’s tallest residential building, along with improvements to public amenities and leisure space at ground level, are on view Friday July 3rd and Saturday July 4th. The developer has planning permission already for a 63-storey commercial tower, although that option is said to have fallen out of favour.
The Wharf (02/07/2015)
3rd July 2015
Private rented sector specialist Fizzy has agreed to purchase 348 units on Canning Town’s Silvertown Way regeneration project from Galliford Try and Opal Land, for £135m. The apartments are due to be complete by the second half of 2019. When complete, the Silvertown Way project will host 1,100 homes across 11 blocks, and will include a hotel, gym, shops, offices and restaurants.
Property Week (30/06/2015)
3rd July 2015
British buyers are to be offered first refusal on new apartments being launched in Canary Wharf. The first residential offering from Canary Wharf Group, which has previously specialised in commercial property, goes on sale on Thursday July 9th. Unlike the Battersea Power Station development, where the majority of 866 luxury apartments sold out within days to Singaporean investors, the new offering in Canary Wharf will not be advertised overseas. The development is made up of 74 studios, 115 one-bedroom apartments, 141 two-bedroom apartments and 15 three-bedroom apartments and anticipated to complete in 2019.
Daily Mail (30/06/2015)