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2nd January 2015
The Financial Times takes a look at how London property developers are building micro-houses and hostels for young professionals who are unable to afford to rent more than a room in shared accommodation, let alone their own property. The Collectiveis currently housing 350 tenants across 20 refurbished buildings, and plans to build a tower in Stratford spanning 29-storeys. The average property offered by The Collective measures 15-20 sq m, and is priced between £190 to £250 including bills and council tax.
Source: Financial Times (29/12/14)
19th December 2014
The Evening Standard's Chris Blackhurst meets Sir Stuart Lipton at Silvertown, one of the last great former industrial sites in London, and where Sir Stuart will develop his latest project. Silvertown will cost at least £1.5bn to build and take up to ten years to complete. The 7m sq ft project aims to build 3,000 new homes and create more than 21,000 jobs. Sir Stuart says he has linked up with Rupert Clarke, the former chief of fund manager Hermes, and Peter Rogers, brother of Lord Rogers, to form Lipton Rogers: “Rupert manages the money, Peter is the builder, I’m the developer — we’re a proper team”, he says.
Source: The Independent (13/12/14) Evening Standard (12/12/14)
19th December 2014
A planning application has been put by Nelsons Head LLP to Tower Hamlets Council for a new residential eight-storey block at Manilla Street on the Isle of Dogs, on the site of historic pub The North – which closed earlier this year. The pub would be replaced, leaving high quality homes on each of the top seven floors. A previous application was made for the site, which didn’t include plans for a pub; the proposal was subsequently rejected for not including provisions for a new hostelry.
Source: The Wharf (18/12/14)
19th December 2014
House price growth in London is lagging behind some other British cities, with values falling up to 20% in parts of the capital, according to research from Hometrack.. London will "act as a drag" on the nation's house price growth next year, according to the report. Hometrack said that house-price growth has now moved out of London and into the wider South East region and key commuter routes.
Source: The Daily Telegraph (19/12/14)
19th December 2014
According to Zoopla, some 33% of the properties it has listed for sale have been discounted at least once, the highest proportion since August 2012. The average price reduction is 6.7%. In London, 29% of prices have been discounted. Lawrence Hall of Zoopla said: “The property market typically slows in December as buyers postpone their plans until the New Year and become preoccupied with the festive season, but these figures suggest that sellers may be being forced to become more realistic in order to secure a buyer".
Source: The Daily Telegraph (18/12/14)
19th December 2014
The Independent's Chiara Cavaglieri says that although the London property market is slowing down, according to the latest data, many experts see it as just reverting to a "normal" market. Adam Day of Hatched, says "There is certainly a slowdown of activity compared to the craziness of earlier in the year. But achieving 98% of the asking price is a 'normal' market. We also have to remember that there is a natural slowdown at this time of year. I believe January will be busy again". Ms Cavaglieri adds that many people believe the stamp duty shake-up announced in the Autumn Statement will help fuel a burst of activity, particularly among first-time buyers.
Source: The Independent on Sunday (14/12/14)