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Although all of the larger properties at One Park Drive, a sleek 58-storey, waterfront building overlooking the South Dock on the Isle of Dogs, are now sold out, many others are still available, including one-bedroom flats for £825,000. The Herzog and de Meuron-designed tower is based in the Wood Wharf district, which will eventually host 3,600 private, affordable and rented homes, along with a primary school and a GP surgery. Camille Waxer of Canary Wharf Group says the new site will also host more neighbourhood-style shopping experiences, such as The Lanes, which will host independent and local companies. ““A lot of people want to live here. We’ve been asked about residential property for some time”, she explained, adding: “It will feel different to the existing estate and more like other parts of London.”
The Daily Telegraph (22/09/2018)
A new report by the Royal Mail and the CEBR details the fastest growing areas for new build properties in Britain between 2010 and 2017. Topping the list is Tower Hamlets, seeing a 14% leap over the period. The research also revealed the top 20 fastest growing housing areas by number, with Cornwall topping the list with 17,450 new builds. Further, it shows that the fastest growing type of new housing to be built is now flats, up by 7% for 22% of the market in the five years to 2017 across England & Wales. Only the North East, East Midlands and Wales are the exceptions with detached houses the most common type of new-builds.
Daily Mail (25/09/2018)
A former Tory treasurer has suggested that scrapping stamp duty would be cost neutral, as homeowners would spend more on home improvements. Lord Stanley Fink said that high stamp duty bills are prohibiting even wealthy home movers from spending money on furniture, home decor and extensions. Scrapping or cutting stamp duty on home purchases would lead to a rise in such spending, he said, resulting in a loss-cancelling boost for the Treasury from a bigger tax take via the industry.
The Sunday Telegraph (23/09/2018)
First-time buyers need an income of at least £53,000 to purchase a home, rising to a whopping £84,250 in London, according to a survey of house prices in the UK’s 20 biggest cities by Hometrack. The average sum is up by £8,000, or 18%, in three years due to sharp house price growth.
The Times (26/09/2018)
First-time buyers are currently experiencing some of the lowest mortgage rates on record. Analysis of figures by Moneyfacts shows the average two-year fix on the market for someone with a 5% deposit now stands at 3.73%, down from 4.16% in September 2017.
The I (25/09/2018)
Twenty-seven shared-ownership properties at Telford Homes’ Liberty Building on the Isle of Dogs are currently available, with prices for a one-bedroom apartment starting at £184,000 for a 40% share, based on a full market value of £485,000. Adjacent to Crossharbour DLR, and a 20-minute stroll from Canary Wharf, the homes come with access to a 24-hour concierge service, a private gym, a landscaped square, and courtyard garden.
The Wharf (18/09/2017)