Docklands News

UK house prices rose 3.7% in the year to June, taking the average to £269,000, according to data from the Office for National Statistics (ONS). Growth accelerated from May’s 2.7%, with prices reaching £291,000 in England, £210,000 in Wales, and £192,000 in Scotland, where increases were strongest at 5.9%. 

Daily Mail (21/08/2025)   Financial Times (21/08/2025)  

Analysis by Nationwide Building Society reveals that the average floor area of flats in England has decreased over the past decade. In contrast, bungalows, terraced homes, and semi-detached properties have seen size increases. The average floor area of flats is now 60.3 sq m, down 1.7% since 2013. Overall, England's housing stock has grown to 25.4m homes, with 16.3m owner-occupied. 

Daily Mail (20/08/2025)   The I (20/08/2025)  

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)