Docklands News

Rising housing costs have driven a near 10% increase in the number of young adults living with their parents, with 3.6m Britons aged 20 to 34 still at home, according to new figures from the Office for National Statistics. The data highlights a growing trend of delayed independence, with rent, mortgage costs and job insecurity cited as key barriers to moving out. A third of men in this age group remain at home, compared with a quarter of women, while over-65s were the only age group to see a rise in solo living, now making up more than half of all people living alone. The figures come amid Labour's pledge to tackle the housing crisis, including a £39bn plan to build 300,000 social and affordable homes by 2035. However, housing charity Shelter has warned that five times as many social homes are needed annually to meet demand and eliminate long waiting lists. 

Daily Mail (23/07/2025)  

New mortgage rules could boost home ownership
The new mortgage rules announced by Chancellor Rachel Reeves aim to assist first-time buyers on lower incomes, allowing them to borrow more than 4.5 times their salary. The government estimates that this initiative could help 36,000 individuals enter the housing market. Furthermore, the upcoming Renters' Rights Bill could potentially increase the number of properties for sale. David Sturrock from the Institute for Fiscal Studies noted: "These policies together could push in the same direction in terms of actually boosting home ownership among people who are on the margins." 

The Observer (20/07/2025) 

Galliard Homes has launched Neptune Wharf, with 37 apartments available for private sale at the Deptford development. Located on Grinstead Road, a short walk from Deptford, South Bermondsey, and Surry Quays stations, the development is part of an increasingly attractive part of the city that is set to see major regeneration over the coming years. Upper-level apartments offer direct views of Canary Wharf and the City, while all the properties have kitchens featuring integrated Smeg appliances, navy base units and oak-style wall cupboards over stone worktops. Oak-style flooring, light grey walls and steel hardware present a neutral base with open-plan living areas and private balconies for all apartments. Prices start at £375,000 for a one-bedroom apartment, with two-beds and duplexes also available. First-time buyers are eligible to have their Stamp Duty bills covered, while there are also 100% mortgage deals available for those who meet the criteria.

Wharf Life (13/07/2025)  

Sales of new-build homes in London have fallen to their lowest level since the global financial crisis, with just 3,946 private and build-to-rent properties sold in the first half of 2025 - a nearly 30% drop year-on-year. According to research from Molior, only 1,691 homes were sold in Q2, the weakest quarterly total since late 2009. Tim Craine, founder at Molior, blamed London’s City Hall for deterring more new homes from being built. He said the Greater London Authority was negotiating "too hard" in demanding higher taxes from housing developers to fund affordable housing – putting developers off building more homes. Property experts warn the downturn puts the Mayor's target of 88,000 new homes a year at risk, with current figures meeting just 9% of the mid-year goal. Developers are calling for urgent reforms on both the demand and supply side to revive confidence and restore momentum in London's housing market

The Daily Telegraph (12/07/2025)  

According to latest figures from Nationwide Building Society, house prices in the UK are more affordable than they were two decades ago, with the average house price now 5.8 times the average annual salary, down from 5.9 in 2005. Over the past 20 years, house prices have risen by 73%, while earnings have increased by 76%. However, the house price to earnings ratio remains above the long-term average of 4.8. 

Daily Mail (15/07/2025)  

The rise of artificial intelligence technology is reshaping the mortgage industry, with over a third of homebuyers now using AI to explore their options. Research shared with City AM indicates that nearly half of users find AI the most effective tool for comparing mortgage options. However, traditional brokers have been slow to adopt this technology, with only one in eight incorporating AI into their advice processes. Jacqueline Dewey, chief executive of Smart Money, noted a "disconnect" between homeowners and brokers' priorities, suggesting that the future of AI in mortgages will likely be hybrid, combining efficiency with traditional broker services.

City AM (15/07/2025)