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A fifth of would-be homemovers whose plans to buy were thwarted last year. Some 20% of people surveyed for Aviva said they planned to buy a home in 2020 but had to put their dream on hold due to job fears, redundancy, furloughs and house sales falling through. First-time buyers were the most commonly hit, with seven in 10 rethinking their property-buying plans during 2020. By contrast, 4% of people who had no plans to buy a home at the start of 2020 ended up doing so, with reasons including needing a more affordable property, changing jobs, and relationship breakdown.
Daily Express (12/01/2021)
Hadley Property Group has submitted a full planning application for an 898-home site at Blackwall Yard, one of the last substantial regeneration sites on the north bank of the Thames, opposite the O2 and a short walk from Canary Wharf and Poplar High Street. The regeneration specialist’s masterplan includes the opening-up of the filled-in historic graving dock to become a large water feature with outdoor swimming; a ground-floor plane incorporating community spaces, as well as a pub and a grocery shop; and 898 new homes, of which at least 35% will be affordable housing. However, as a car-free development, residents will not be able to keep their own cars, although there are plans for an electric car sharing scheme. Over the 10 years following the start of work on the site, Hadley anticipates that the development will generate over £220m of total additional social and economic value.
Property Week (18/12/2020) The Construction Index (21/12/2020)
The first apartments at a major housing development in Silvertown, which will have 295 homes across four buildings, are set to go on sale on. Pontoon Reach, developed by housebuilder Redrow and housing association Peabody will feature a mix of studio flats, homes with one to three bedrooms and duplex apartments set over two floors. The 69 homes in the River Walk building will be available to buy from January 16th, with prices starting at £330,000. Each apartment will have a balcony or private terrace from the kitchen and living area, while residents will also have access to landscaped courtyards and a roof terrace.
Newham Recorder (06/01/2021)
The Government has confirmed that moving home and buying and selling property are essential activities that can continue during lockdown, according to the Telegraph. The news came as Prime Minister Boris Johnson announced a third lockdown. As during the second lockdown in November, property viewings for sales and rentals and transactions can continue, while home moves can go ahead. However, all parties must comply with Government guidelines. These include maintaining a two-metre distance, regular handwashing, conducting first-time viewings virtually, wearing face coverings, asking sellers to vacate properties during viewings, and a ban on open houses.
The Daily Telegraph (05/01/2021)
The news of a third lockdown may not limit mortgage options for homeowners and buyers as much as the previous COVID restrictions, according to new analysis from the Mortgage Advice Bureau. Brian Murphy, the head of lending at the Mortgage Advice Bureau, detailed how the housing market will come out relatively unscathed in light of the new restrictions: "Despite stricter coronavirus measures being introduced across the UK, the housing market remains open for business," he said. “we've recently seen a return to higher Loan-to-Value (LTV) products, with five of the top six providers now back offering products at the 90% LTV level and we hope to see this continue as more lenders have recovered much of their operational capacity despite most of their workforce working remotely.”
Daily Express (06/01/2021)
The so-called Bank of Mum and Dad helped fewer buyers snap up a home last year, with 28% of first-time buyers receiving help from family or friends in the 2019/20 financial year, down from 34% the year before and 39% three years ago. The English Housing Survey, a national snapshot by the Ministry of Housing, Communities and Local Government, found that despite the decline in support, the number of first-time buyers in England increased 100,000 from 2018/19 to 827,000 in 2019/20. The average deposit was up to £42,433 from £42,361 the previous year. Analysts say that this trend, which preceded the coronavirus pandemic, can be explained by the fact that many parents were feeling poorer and therefore more reluctant to help their adult children. Some 62% of first-time buyers were from the top two income brackets, the survey found.
The Times (02/01/2021)