Docklands News

Chancellor Rachel Reeves is considering reforms to property taxation as part of preparations for her second Budget, with Treasury officials examining options ranging from new council tax bands on higher-value homes to more radical annual levies. The review comes amid concerns that the current system, particularly stamp duty, is dampening economic growth by discouraging mobility in the housing market. Both the IMF and the Institute for Fiscal Studies have urged the government to scrap stamp duty, describing it as one of the most damaging taxes in the UK. There is speculation that the Chancellor is considering a recurring property tax on homes valued above a certain amount that could replace stamp and council tax. However, government sources have denied reports that ministers are considering a new "national tax" on property sales above £500,000. 

Financial Times (19/08/2025)   The Daily Telegraph (19/08/2025)   The Guardian (19/08/2025)   The Independent (19/08/2025)   The Times (19/08/2025)  

UK house prices rose by 0.4% in July - the fastest monthly increase this year - according to Halifax. The average property now costs £298,237, up from £297,157 in June. On a yearly basis, prices were up 2.4%, a slowdown on the 2.7% annual growth recorded in June. Halifax credited cheaper borrowing and rising wages for supporting the housing market. Although many homeowners will soon exit pandemic-era fixed-rate deals and face higher repayments, the overall impact on house prices is expected to be limited. Halifax head of mortgages Amanda Bryden said she expected house prices to follow a steady path of modest gains through the rest of the year. Meanwhile, HMRC data shows residential property sales rose by 13.4% in June to 93,530, while Bank of England figures revealed a 1.4% increase in mortgage approvals, reaching 64,167 for the month. 

City AM (08/08/2025)   The Guardian (08/08/2025)   The Independent (08/08/2025)   The Times (08/08/2025)  

Concerns are mounting that a slowdown in London's prime property market, driven by recent stamp duty hikes, could spread nationwide. Wealthy buyers are increasingly opting to rent rather than purchase high-end homes to avoid hefty tax bills, with some central London prices being reduced by up to 30% to attract foreign interest. Experts warn this downturn could impact the wider housing market. 

The Mail on Sunday (03/08/2025)  

The UK construction sector has suffered its steepest decline in five years, casting doubt over the government's pledge to build 1.5m homes by the end of this Parliament. Figures from S&P Global Market Intelligence revealed activity plunged from 48.8 to 44.3 in July, signalling sharp contractions in residential and civil engineering projects. Analysts warn the slowdown could deepen economic woes, with firms laying off workers and slashing investments amid weakening demand. 

City AM (07/08/2025)   The Daily Telegraph (07/08/2025)   The Guardian (07/08/2025)   The Times (07/08/2025)  

HMRC has warned home buyers about fraudulent firms offering to reclaim stamp duty on properties needing renovation by falsely classifying them as non-residential. Anthony Burke, HMRC's deputy director, cautioned buyers against allowing agents to make repayment claims on their behalf, saying: "If the claim is inaccurate, you could end up paying more than the amount you were trying to recover." 

Daily Mail (05/08/2025)  

The final apartments in the initial phase of Heron Wharf, formerly known as Poplar Riverside, are now on sale. The first two buildings at the Berkeley Capital development proved a hit with homebuyers, and have been followed by The Millhouse, offering 92 one- and two-bedroom apartments for private sale. The development includes a a 20m swimming pool, along with a spa and a gym. The apartments themselves have views over Heron Wharf park, the river, and towards Canary Wharf, feature an open-plan design, and come with private balconies. “With serene green views, premium wellness facilities and the River Lea on the doorstep, the neighbourhood offers residents a unique blend of tranquillity and city connectivity", commented Luke Tredwell, sales and marketing director at Berkeley Capital. “Heron Wharf continues to evolve into one of London’s most exciting new addresses and The Millhouse is right at its heart". One- and two-bedroom apartments at The Millhouse are expected to complete in May 2026 with prices starting at £460,000. All apartments come with a 999-year lease. 

Wharf Life (25/07/2025)