020 7538 0102
31st July 2015
Canary Wharf Group has launched registration for homes at its first-ever non-Canary Wharf development - Southbank Place, formerly known as the Shell Centre. The company is planning a £1bn renovation of the 27-storey site, which will include 868 homes, 530,000 sq ft of office space and 48,000 sq ft of retail space when it's completed in 2019.
City AM
31st July 2015
Canary Wharf Group has won planning permission from Tower Hamlets Council for a residential tower at the estate’s new phase, known as Wood Wharf. The 57-storey building will comprise 468 apartments ranging from studios to large three bedroom units and is situated on the edge of South Dock, directly to the east of the existing Canary Wharf estate. Designed by architects Herzog & de Meuron, the cylindrical residential tower will form a key part of the new residential offering at Canary Wharf.
Property Week
31st July 2015
Land Registry figures reveal that the central London property boom has come to a sudden halt with prices flat-lining in the most expensive neighbourhoods. Higher stamp duty rates on homes worth more than £1m and a slowdown in sales that started in the run-up to the election have hit the central London property market. In Westminster, for example, values rose 1.3% year on year and 0.3% during the month.
Evening Standard
31st July 2015
Research by Experian reveals that central London dominates the ten worst locations for first-time buyers as a percentage of the local population, with the boroughs of Lambeth, Camden, Hammersmith and Fulham, Westminster and Kensington and Chelsea all featuring in the bottom ten. Richard Jenkings, a senior consultant at Experian, said: “The majority of first-time buyers in London are living in the outer boroughs and particularly those in the more affordable south and east of London. The central areas have become inaccessible.”
31st July 2015
The leader of Westminster City Council, Philippa Roe, has warned that the extended right-to-buy scheme could strip the capital of “huge swathes of social housing”. Ms Roe said: “What we will see is a reduction in the number of social housing units in London and more units built outside. But the crisis in housing is inside London. So it is absolutely vital that the proceeds of right-to-buy from London are kept in London.”
Evening Standard
31st July 2015
Lloyds Bank research reveals that homes an hour from London are on average £450,000 cheaper than equivalent properties in the capital. This is at odds with the situation in the rest of the country; in Manchester, for example, a property 40 minutes away is more expensive than in the city itself. With the average cost of a yearly rail ticket from London commuter towns costing £4,944, a commuter would need to commute for 91 years before compensating for the difference in average house prices.