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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
20th March 2015
George Osborne has outlined plans to help meet a target of 400,000 new homes in London by 2025. A series of measures, including cutting red tape on planning decisions, identifying underused land in London and £100m of funding for the capital, have been set out in an attempt to ease the chronic shortage of homes. Around £1m in funding will be provided to set up a London Land Commission, to create a database of land that could be used for development, with £97m to be provided to support the regeneration of Brent Cross.
Evening Standard (18/03/2015), Page: 1, 2-3
20th March 2015
Sir Stuart Lipton, the developer behind Millennium Mills and the surrounding area of Silvertown Quays in east London, which has stood empty for four decades, is expected to receive planning permission to transform it into an area for businesses and 3,000 homes after several failed attempts to revive the derelict part of the Royal Docks.
The Times, (17/03/2015) Page: 40
20th March 2015
Investors are increasingly looking to acquire property in Limehouse and Wapping, Wharf reports. Agents note that homes in Limehouse, unlike those in Canary Wharf, make profit through capital growth rather than month-by-month yield, making them ideal for those in it for the long haul, such as workers planning to build up a property portfolio to fund their retirement. A decent one-bed home in the area goes for around £450,000 and rents at £350-£400 a week.
The Wharf (17/03/15)