Docklands News

Home owners more likely to be vaccinated

Property owners are more likely than renters to have been vaccinated, official breakdown of uptake figures in the over-50s has shown. The Office for National Statistics (ONS) found that the probability of someone accepting the jab is significantly linked to ethnicity, religion, language skills, job level and housing situation. It found that the vaccination rate among homeowners is 93.7%, but falls just 84.2% for those who rent privately. It was slightly higher for people renting social housing, at 86.6%.   

The Daily Telegraph (06/05/2021)

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Saffron Wharf apartments in Wapping now on the market

The latest phase of the redevelopment of the old London Docks is now on the property market, with apartments in the new 18-storey Saffron Wharf tower up for grabs. Architects Patel Taylor have swept away old cobwebs with new shops, bars and restaurants, 1,800 homes and public spaces just a stone's throw from the Tower of London. “We want to retain much of the rich maritime and trading heritage of this neighbourhood”, developer St George City's managing director Marcus Blake said. “This includes workspace in the old Pennington Street Warehouse”, which has been refurbished into workshops with its historic brick walls and archways. Prices at the site start from £730,000.

East London Advertiser (27/04/2021)

 

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Tax deadline leads to frenzied market

House prices have rocketed over the course of the stamp duty holiday and there is a buying frenzy as the deadline looms, reports the Sunday Times. Figures from HMRC show almost 191,000 homes were sold in March - the highest number in a single month since July 2004. But the savings from the Chancellor’s tax cut have long since been cancelled out by property price rises. The average asking price in the UK has now hit £327,797, an increase of more than £4,000 on the previous record set last October.

The Sunday Times (25/04/2021)

 

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Future plans to help first-time buyers

Investors and developers are looking to provide alternatives to the Help to Buy programme and the Government’s 95% mortgage scheme. In one plan, banks will “top up” small deposit mortgages using funds from institutional investors. Banks will still provide 85% of the loan; an institutional investor will top up the remaining 10%, opening up the 5% deposit market for borrowers. Another plan, Deposit Unlock, would allow for the purchase of new homes with a 5% deposit. In this case, developers will put up funds to guarantee lenders against losses if a property is repossessed, up to the first 40% of a loan, but it would be backed up by insurance.

The Daily Telegraph (25/04/2021)

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More lenders re-enter 5% deposit market

More lenders are launching 5% deposit mortgages onto the market in a further boost to first-time buyers. New deals announced by Metro Bank and Cambridge Building Society are not part of a new Government-backed mortgage guarantee scheme which was launched this week to increase the availability of 5% deposit loans. Major lenders including Halifax, HSBC UK, Barclays, NatWest and Santander are taking part in that scheme and unveiled new 5% deposit products earlier this week. The average two-year fixed-rate at 95% loan-to-value (LTV) is now 4.02%, down from 4.47% on April 1st, according to Moneyfacts. The average five-year fixed rate is 4.17%, down from 4.32%.

The Courier (23/04/2021) The I (23/04/2021) The Times (23/04/2021)

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Pandemic pauses rise of London’s tall buildings

The number of planning applications and construction starts on tall buildings in London plummeted last year as a result of the coronavirus pandemic, an industry survey has revealed. New London Architecture’s Annual Tall Buildings Survey found that 24 tall buildings, classed as 20 storeys or above, commenced construction in 2020, compared with 44 in 2019, as lockdowns and uncertainty affected work on site. The total pipeline of buildings in planning and construction currently stands at 587 tall buildings, up 7.9% from 544 in 2019, while planning permissions for new tall buildings in London were 10.8% higher in 2020 compared with 2019. The survey identified Tower Hamlets as a tall building hotspot, with Greenwich also seeing a significant increase.

Property Week (16/04/2021)

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