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The first of 136 affordable homes at Wardian London, one of eight new landmark developments at Canary Wharf, have just gone on sale. The two-tower development on Marsh Wall, one standing 600 ft high, the other 558 ft, forms a vertical village of 624 homes; and, while the penthouse apartments have price tags as tall as their heights, a shared-ownership scheme means a quarter-share of an apartment can be had for as little as £150,250. Each has an open-plan layout, floor-to-ceiling windows to make the most of the views, and a private wraparound corner terrace or a balcony. The entire scheme has a botanical theme with a double-height lobby filled with exotic plants, flowers and trees. There are also glamorous greenhouse-style pocket gardens throughout the buildings, which developer EcoWorld Ballymore says were inspired by the glasshouses of Kew Gardens
B Daily (11/08/2020)
The newly-completed 10 Park Drive neighbourhood at Wood Wharf has welcomed its first 50 residents. Brian De’ath, director of residential sales at Canary Wharf Group, commented: “East London has seen a rise in popularity for a number of years and the gradual completion of Wood Wharf will only enhance its desirability”. Only 70 apartments remain for sale at the Stanton Williams-designed building.
Evening Standard (11/08/2020)
House prices rallied to the highest levels on record in July as months of pent-up buyer demand was released. Prices saw an uptick for the first time since the lockdown began, according to the latest Halifaxhouse price index, growing on average 1.6% after months of downturn. This brings the price of the average UK home to £241,604 - up 3.8% on last year despite the decline in the first half of 2020. But experts warn the recovery may be short-lived as the furlough scheme nears its end and fears of the health of the economy loom. Some 63,250 homes were bought and sold in June, a rise of 31.7% from May following the Government's lifting of lockdown measures and the introduction of the stamp duty cut.
Daily Mail (07/08/2020) The Guardian (07/08/2020) The Independent (07/08/2020) The Daily Telegraph (07/08/2020)
Mortgage rates are starting to creep up and the choice of fixed-rate and variable deals is shrinking, according to Moneyfacts.co.uk. The website said that following historic lows reached last month, average rates are starting to increase. Average two- and five-year fixed rates across all deposit sizes have increased by 0.09 percentage points since the start of July, to stand at 2.0% and 2.34%, while low deposit loans have seen more significant rate increases.
The Independent (10/08/2020) Yorkshire Post (10/08/2020)
Standing near the ExCeL exhibition centre, less than 100 yards from the water, lies The Botanist, part of the new 796-home Royal Eden Docks development that seeks to “incorporate nature in its architecture”. The latest phase of the project, The Botanist’s green credentials include communal gardens and planted rooftops, featuring a running track and “reflexology walkway”. A quarter of the site is green space, including raised lawns and wildflower meadows plus outdoor activity areas. Prices at the 83-home development start from £417,000.
Evening Standard (31/07/2020)
UK house prices saw their biggest rise in 11 years last month, with the market bouncing back as it reopened after the coronavirus lockdown. Nationwide said prices climbed 1.7% in July, the biggest increase since August 2009. The average price of a home sold in July was £220,936, up from £216,403 in June. Nationwide's chief economist Robert Gardner said: "The bounce back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions." However, he warned that July’s increase may prove to be “something of a false dawn”, saying that activity could be dampened if, as many forecasters expect, labour market conditions “weaken significantly” in the wake of the pandemic and as government support schemes wind down.
Sky News (31/07/2020) BBC News (31/07/2020) Daily Mail (31/07/2020) The Daily Telegraph (31/07/2020)