Docklands News

UK house prices experienced a larger-than-anticipated decline last month, marking the most significant quarterly drop in nearly a year. According to Halifax, the average property price fell by 0.4% in May to £296,648, exceeding the expected 0.1% decrease. This decline follows a 0.3% rise in April, resulting in a quarterly change of -0.3%, the steepest since June last year. In London, house prices have increased by just 1.2% year-on-year; however, the capital remains the most expensive part of the UK housing market, with the average home priced at £542,017. The annual rate of house price growth also slowed to 2.5% in May, from 3.2% in April. Amanda Bryden, head of mortgages at Halifax, noted: "Despite ongoing pressure on household finances, the housing market has shown resilience."

Daily Mail (07/06/2025)   The Guardian (07/06/2025)   The Independent (07/06/2025)   The Times (07/06/2025)  

Despite rising taxes and regulations, a survey by Market Financial Solutions reveals that a third of Britons still aspire to own a buy-to-let property. The survey highlights significant interest among younger individuals, with over half of those aged 18 to 34 expressing a desire to invest in rental properties. Paresh Raja, chief executive of Market Financial Solutions, explained: "It has become popular over the past decade to bash buy-to-let investing as being increasingly unappealing, but clearly that is far from the case." The report indicates that while challenges exist, particularly with increased costs and regulations, many still view property as a stable investment. The appetite for buy-to-let remains, especially if mortgage rates decrease in the future, potentially encouraging more investors to enter the market. 

Daily Mail (07/06/2025)  

A temporary lido on east London's Royal Docks is due to open on July 23rd. Summer Splash, at the Royal Docks close to City Hall, is a free-to-use pool penned into the docks using floating platforms, and is fully staffed with lifeguards. For young families, there are kids' lessons and sandpits, while older swimmers might want to take advantage of a 'lates' DJ series, and a wood-fired Sweheat sauna. It is part of At the Docks, a full programme of arts and events, including A State of Trance music festival, and two days of free outdoor circus, dance, physical theatre and street art.

Londonist (13/06/2025)  

According to a recent survey by the HomeOwners Alliance, aspirations for home ownership in Britain have reached their lowest point in a decade, with only 64% of potential first-time buyers believing that owning a property is achievable, down from 71% last year. Rosie Hooper, a financial planner at Quilter Cheviot, remarked: "Younger people's hopes of getting on the housing ladder have been quietly chipped away as government support has faded." Key factors contributing to this decline include high stamp duty costs, difficulties in downsizing, and concerns over the leasehold system. The survey revealed that nearly two-thirds of respondents expressed worries about stamp duty, while the availability of affordable housing remains a significant issue

The Daily Telegraph (24/05/2025)  

Gentrification and skyrocketing housing costs have been blamed for causing a decline in birth rates in London. Anna Minton, writing in The Guardian, notes a study by the Affordable Housing Commission which found that 13% of British adults under 45 have delayed or chosen not to start a family because of their housing situation. The trend for families to leave London is also pushing up house prices in areas such as Bristol, Brighton, and seaside towns along the south coast including Hastings, Eastbourne and Deal. Minton cites London residents who say the "ecosystem of the city" is getting emptier and emptier, with schools, GP surgeries, and small businesses all closing. 

The Guardian (26/05/2025)