020 7538 0102
28th August 2015
New home building in Canary Wharf, accompanied by new infrastructure and amenities, is set to reinforce the area’s position as a prime residential address. Already home to vibrant shopping malls, as well as more than 300 shops, cafés, supermarkets, bars and restaurants, Canary Wharf is already an attractive residential environment as well as a business centre. Property prices in Canary Wharf have risen by 27% since early 2013, comfortably outstripping the 10% growth seen across prime central London over the same time. There are 14 schemes of around 400 units or more already under construction, or with full planning, on the Canary Wharf Estate and on nearby Isle of Dogs. Canary Wharf is currently primarily home to younger residents, with those under 40 reportedly making up a much larger proportion of buyers and renters than in other prime London neighbourhoods.
Property Wire
28th August 2015
The prospect of an interest rate rise has prompted many homeowners to lock into more competitive mortgage deals. The British Bankers' Association said remortgaging rose nearly 29% in July, helping push up the number of overall loans approved for home loans up by 15% year-on-year to 77,451, with a total value of £12.3bn. Some 46,033 mortgages with a total value of £7.8bn were approved for house purchase in July, up from £7.7bn in June and 11% higher than a year earlier - marking the highest monthly figure recorded since February 2014. The number of remortgage approvals leapt to 24,400 with a value of £4.1bn last month, up from 24,183 at £4bn in June. Total mortgage borrowing was £11.8bn, 11.5% higher than a year ago, the BBA said.
The Times
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)