Docklands News

Planners in the London Borough of Tower Hamlets have called for more time to consider planning for a residential skyscraper at 4-5 Harbour Exchange Square in the Millwall Inner Dock cluster. The Make Architect-designed One East Point project has been recommended for approval but a decision has been delayed to allow for a site visit to investigate potential construction work disruption in the local area.

Construction Enquirer (23/07/2024)  

The Government is being urged to prioritise Stamp Duty in the next Budget, after data showed homebuyers have collectively paid £4.2bn in Stamp Duty between April and June 2024. This is £500m higher than the same period last year. The nil-rate threshold for Stamp Duty is set to be reduced back to £125,000 in March 2025, doubling the tax bill on an average-priced home in England. First-time buyers will also see a drop in the threshold from £425,000 to £300,000. Jonathan Stinton, head of mortgage relations at Coventry Building Society, called on the Chancellor to set out an ambitious, long-term plan for property tax in the next Budget to provide certainty to homebuyers. 

The Express (22/07/2024)  

The Government has set out ambitious house-building targets, aiming to construct 1.5m new dwellings in the next few years. However, some observer fear such a gung-ho attitude to building will come at the cost of high quality homes. Although new builds provide a blank canvas and lower maintenance costs, issues such as poor workmanship and hidden costs have been common complaints in recent years. For Paula Higgins, the chief executive of HomeOwners Alliance, which campaigns for better rights for homeowners, new homes are often beset by problems - including snagging, lack of insulation and poor quality. But positive new-build outcomes can also be achieved. According to the Home Builders' Federation, in the year September 2022 to 2023 a customer survey of 50,000 people in newly-built estates showed 88% were satisfied with the quality of their home, and 90% would recommend their builder to a friend. 

The Sunday Telegraph (21/07/2024)  

A survey of 2,000 adults found that 69% of Britons regularly check out estate agent displays to get information about available homes. Over half of Brits engage in "roomscrolling," browsing property listings just for fun. The survey also revealed that 42% daydream about homes they'll never live in, and 69% regularly peek at estate agent windows. The poll showed that 34% of "roomscrollers" are attracted to properties outside their price range, while only 29% look at homes within their budget. "Roomscrolling" provides stress relief and a sense of escapism, explains Jo Hemmings, a behavioural psychologist, as it triggers curiosity and the desire to learn about neighbours' living spaces. 

The Mirror (23/07/2024)  

Assael Architecture, on behalf of Weybourne, has revealed plans for Peninsula Gardens, a Greenwich development featuring more than 1,250 new homes at the Millennium Retail Park. It also features space for shops, a new public square and high street in the site’s centre, and residential streets with walking routes. "The proposed scheme provides the opportunity to sustainably re-develop an otherwise under-utilised brownfield site to create a new residential led mixed use neighbourhood that ties together the existing and emerging neighbourhoods that surround the site", the planning document states. The project dates back to 2020 during which consultation meetings were held between the previous developer for the scheme London Square and stores of the retail park on the site. 

MyLondon (08/07/2024)  

Labour has set an ambitious target of building 1.5m homes over the next five years, which means constructing 300,000 homes annually. However, experts are sceptical about the feasibility of this goal. Private housebuilders are cautious about flooding the market, and the government's influence on supply is limited. The Labour government plans to cut planning application delays, assist first-time buyers, and build on green belt land. However, progress may be slow due to various factors, including higher interest rates and a housebuilding deficit inherited from the previous government. The government also aims to help first-time buyers by introducing a new Help to Buy scheme and a permanent mortgage guarantee scheme. The party also wants to give local people priority in new developments and reform compulsory purchase compensation rules. However, critics argue that these proposals may have loopholes and a limited impact

Daily Mail (05/07/2024)   Evening Standard (05/07/2024)   The Guardian (05/07/2024)   The Independent (05/07/2024)