Docklands News

Recent data indicates that housebuilding has prevented a significant downturn in the construction sector, with residential work rising to 50.7 in June, surpassing the neutral benchmark of 50. Despite a rise in stamp duty rates potentially dampening demand, firms reported an increase in new projects and sales pipelines. However, other areas like commercial and civil engineering faced declines, with commercial activity dropping sharply. Staffing numbers continued to decrease due to higher employment taxes set by Chancellor Rachel Reeves, while material costs rose. Matt Swannell from EY ITEM Club noted that "recent PMI readings appear to have been overly pessimistic," suggesting that while the sector faces challenges, there are signs of resilience.

City AM (04/07/2025)   Daily Mail (04/07/2025)   The Daily Telegraph (04/07/2025)  

The Bank of England has warned that approximately 3.6m mortgage borrowers will experience increased repayments over the next three years. This rise primarily affects the 41% of households that have not renegotiated their home loans since interest rates began to climb in 2021. The financial policy committee estimates that homeowners transitioning off fixed rates in the next two years will see an average monthly repayment increase of £107, which is a 14% rise, slightly lower than the previous forecast of £146. The number of homeowners expected to refinance at higher rates has decreased from 4.4m to 3.6m. The Bank has also suggested relaxing affordability rules for mortgage lending to assist more individuals in entering the housing market. 

The Times (10/07/2025)  

UK house prices saw their steepest monthly decline in over two years in June, falling by 0.8%, according to Nationwide. The drop, the sharpest since February 2023, is thought to reflect a dip in demand following April's stamp duty changes, which lowered the tax-free threshold for most buyers. Despite the monthly fall, prices were still up 2.1% on the year, although this marked the slowest annual growth in nearly 12 months. Nationwide expects market activity to rebound in the coming months, citing strong fundamentals such as low unemployment, rising real incomes, and the potential for lower interest rates. The gap in house price growth between northern and southern England narrowed in the second quarter, with northern regions seeing a 3.1% annual rise compared to 2.2% in the south. Terraced houses led the market with a 3.6% increase, while flats lagged behind with just 0.3% growth over the past year. 

BBC News (02/07/2025)   Financial Times (02/07/2025)   The Daily Telegraph (02/07/2025)   The Guardian (02/07/2025)  

Faced with rising rents and a daunting housing market, a growing number of young couples are choosing to buy property early in their relationships - often before marriage or even long-term commitment. A recent survey by Skipton Building Society found that 64% of couples now prioritise home ownership over tying the knot, driven by the financial benefits of splitting costs. While some see early joint purchases as practical and successful, others have struggled to untangle shared assets after breakups, even with legal agreements in place. The pressure to buy can bring emotional strain, with friends and families often voicing concern that relationships are being fast-tracked under economic duress. Legal experts warn that without deeds of trust or clear agreements, love-struck buyers risk serious complications if romance fades. 

The Daily Telegraph (28/06/2025)  

The number of mortgages approved for home purchases in the UK rose to 63,000 in May, an increase of 2,400 from April and the first month-on-month rise of 2025, according to the Bank of England. Remortgaging approvals also increased by 6,200 to 41,500, the highest jump since February 2024. Despite less generous stamp duty relief from April, changes to lenders' affordability assessments and stabilised mortgage rates have supported renewed confidence among buyers. 

Financial Times (30/06/2025)   The Independent (30/06/2025)   The Standard (30/06/2025)   The Times (30/06/2025)  

New research from smart security brand Ring reveals that 75% of Brits struggle to relax on holiday, with 64% concerned about home issues. The study highlights that 54% worry about home security, while 41% fret over their pets. Over a third (35%) have faced problems like break-ins or missed deliveries during trips. To alleviate these concerns, many rely on friends or technology, with 68% stating that virtual monitoring would help them unwind. Dave Ward, Managing Director EU and International at Ring, noted: "Our research shows that home security is the number one worry stopping Brits from truly unwinding on holiday." 

Daily Mail (02/07/2025)