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27th March 2015
Conservative mayoral hopeful Stephen Greenhalgh has proposed that only people who have lived or worked in London for at least three years should be able to buy new homes on public land in the capital. The policy would apply to residents irrespective of their nationality, and aims to help solve the problem of homes being bought as investments then left empty.
Evening Standard (26/03/15)
27th March 2015
Official statistics have shown that average UK house prices fell by 0.2% in January, to £273,000, following a surprise upturn in December. The Office for National Statistics said that the annual rate of price growth now stands at 8.4%, down from 9.8% in December. In London, growth fell to a 13-month low of 13% in January, down from 13.3% in December and 15.2% in November.
The Guardian (25/03/15)
27th March 2015
The gap between rental costs in London and the rest of the UK narrowed as rents rose in many regions but dipped in the capital last month. According to HomeLet data, average rents climbed by £10 to £899 in February, 9.9% up on the same month in 2014. Excluding London, the figure climbed £20 on January’s average to £724.
Daily Mail (24/03/15)
27th March 2015
Labour’s shadow London minister Sadiq Khan has suggested that town hall pension funds should be invested in affordable and social homes to help solve the capital’s housing crisis. He said London boroughs have funds worth £6bn, expected to rise to £24bn by 2020, which could build 30,000 homes a year - increasing to 120,000 - if it was all ploughed into housing.
Evening Standard (20/03/15)
27th March 2015
MP Diane Abbott has suggested that landlords in the capital should be subject to a cross-London licensing scheme to drive up low standards in the private rented sector. She said those failing to comply with a tough set of standards should face fines of up to £20,000 and blacklisting.
Evening Standard (20/03/15)
20th March 2015
In his 2015 Budget, George Osborne has announced a Help to Buy ISA for first-time buyers, which will boost deposit savings by up to £3,000. For every £200 a young buyer saves for a deposit, the Conservative Government will top it up by £50, to help buyers reach the average first-time deposit of £15,000. The ISA will be available in the autumn for a period of 4 years. Once an account is opened, there is no limit on how long the holder can save for. The initial deposit for the account can be up to £1,000, with maximum monthly payments of £200. The accounts are limited to one per person, rather than one per household.
The Daily Telegraph (18/03/15), Page: 3 Financial Times (18/03/15), Page: 13