020 7538 0102
23rd January 2015
Whitechapel homeowners are predicted to see a 54% rise in the value of their properties over the next five years, thanks to the arrival of Crossrail, according to property company JLL. Price growth is expected to exceed the Greater London average by 19%.
East London Advertiser (21/01/15)
23rd January 2015
Figures released by Shelter have shown that the average, single and in-work Londoner has to save for 29 years to afford a deposit on a new home within the city. The A Home of Their Own report also considers the affordability of property across the nation for childless couples working fulltime and couples with one child, with one working fulltime and another part-time. Outside of London, it was found that couples with a child would be forced to save for over a decade in over 70% of England’s counties. In a third of counties, it would take over 15 years – while in London it would take 25 years. A childless couple, however, could afford a deposit in the capital in 13.5 years.
The Independent (23/01/15)
23rd January 2015
The Council of Mortgage Lenders has said that lending rose to its highest level in six years in 2014, at £205.6bn – up 17% on 2013’s figure. Strong demand for property in the spring and summer and a rising number of new buyers boosted the figure, said the group. The number of first time buyers taking home loans also rose to a six-year high, breaching 300,000.
The Guardian (23/01/15)
23rd January 2015
Miranda Bryant, writing in the Evening Standard, says that a rent cap is needed in London otherwise renting in the capital will become the preserve of the rich. She notes that a petition for a rent cap has already attracted more than 62,000 signatures, and any fears of an exodus of private landlords misses the point. The point being that London's rental market has reached a crisis.
Evening Standard (20/01/15)
16th January 2015
Property developer Ballymore and Malaysia-based Eco World Investment (EWI) have formed a joint venture to purchase three major residential developments, from Ballymore: Arrowhead Quay in Canary Wharf, phase two of London City Island on the Leamouth Peninsula, and phase two of Embassy Gardens in Nine Elms, for a total of £428.7m. Collectively, the three schemes will deliver 2,800 new residential units, along with 250,000 sq ft of commercial, leisure and office space, and will be worth £2.2bn on completion. EWI will hold 75% of the JV, with Ballymore holding the remaining 25%.
Construction News (13/01/15)
16th January 2015
The Ernö Goldfinger-designed Grade II-listed Balfron Tower in Poplar is to be refurbished by a consortium led by property developer Londonewcastle. A planning application for the 1960s Brutalist masterpiece, sister to the Trellick Tower in north Kensington will be submitted by May, with a decision expected by September.
Property Week (16/01/15)