Docklands News

House buying volumes have dropped “dramatically” compared to last year, according to the latest HMRC figures, as the market feels the absence of the stamp duty holiday. Residential deals in April plunged nearly 14% in comparison with 12-months ago, and are 10.5% lower than in March, according to the government’s latest data. Meanwhile, non-residential transactions, which can include six or more residential properties bought in a single deal, fell 7% year-on-year and 16.7% in comparison with last month. 

City AM (24/05/2022)   The Independent (24/05/2022)   The Sun (24/05/2022)  

Ideas floating around Whitehall with the aim of incentivising pensioners and landlords to sell up include cutting stamp duty for the elderly looking to downsize and slashing capital gains tax for those willing to sell buy-to-let properties. The ideas, in the very early stages, aim to make it easier for younger people to get a first foot on the housing ladder. 

Daily Mail (23/05/2022)  

The UK’s average property price in 1952 stood at around £56,000 in today's money, according to analysis carried out to mark the Queen's Platinum Jubilee celebrations. The typical house price in early 1952 was just under £2,000 – equating to around £56,000 when taking inflation into account. The average house price nowadays is more than four times this sum – at £260,000. “

Daily Mail (23/05/2022)  

Olympian Homes has submitted plans for a co-living development on the Isle of Dogs, Designed by Rio Architects, the 795-home, 45-storey tower at 56-58 Marsh Wall aims to promote a sense of community by creating vertical urban villages that consist of communal areas for sub-communities of 57 people across three floors. The development includes studios with ensuite bathrooms, as well as access to a co-working space, café, gym, wellness studio, exercise room, chill-out areas, cinema room and a 24-hour concierge and security service. Sky lounges and a roof-terrace garden are also planned. The London Borough of Tower Hamlets is expected to decide on the application this autumn.

Insider Media (17/05/2022)   Property Week (11/05/2022)  

One Park Drive, the Canary Wharf residential building designed by Herzog & De Meuron, has won the Development of the Year award at the renowned PROPS Awards, further highlighting the building’s high-quality offer and its unique design. The PROPS Awards is a standout event in the UK property industry calendar. The awards recognise and celebrate individuals and companies who have excelled in the sector, whilst raising vital funds for youth charity Variety. The Development of the Year award recognises exceptional residential developments, with the judging committee looking for outstanding projects with a clear strategy, innovation, sustainability, and the "wow" factor.

Canary Wharf Group (12/05/2022)  

The average UK house price jumped by £24,000 in the year to March, the Office for National Statistics (ONS) has said. The typical property value was £278,000 in March 2022, with the annual growth rate, at 9.8%, lower than an 11.3% annual increase in February. Average house prices increased over the year in England to a record level of £298,000 - the equivalent of 9.9%. The East Midlands had the highest annual house price growth, with average prices increasing by 12.4% in the year to March. The lowest annual house price growth was in London, where average prices increased by 4.8%. However, the capital's average house prices remain the UK's most expensive, at £524,000. 

Daily Mail (18/05/2022)   Financial Times (18/05/2022)   The Independent (18/05/2022)