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16th March 2018
Mayor of London Sadiq Khan has warned that London could see a brain drain due to a shortage of housing, telling City AM: “The biggest issue raised to me by chief executives and other employers is the housing crisis - the fact that they can't get staff in London because of the cost of housing.”
City AM (12/03/2018)
16th March 2018
Figures from Acadata shows that the average price of a London home fell to £593,396 in January, a year-on-year dip of 2.6%. The decline is the biggest since that recorded in August 2009. Values in the capital were down 0.8% in January. Nationally prices rose 0.5% on the month during February to £299,556 but growth slowed year-on-year – hitting 0.6% compared to January’s 0.7%.
The Independent (12/03/2018)
161th March 2018
The London Chamber of Commerce and Industry (LCCI) believes there should be a reclassification of derelict land in the green belt to provide housing for emergency service workers. Responding to Mayor Sadiq Khan's draft London Plan, the body highlighted 329 hectares of brownspace land which it says could be used to build 20,000 homes.
City AM (12/03/2018)
9th March 2018
The Prime Minister has launched a draft policy on planning laws to try to ease Britain's housing shortage - urging homebuilders to build new houses faster to meet demand. Speaking at the National Planning Conference in London, Theresa May scolded property developers - saying their bonus structures "prioritise profit over the construction of affordable homes" and said: "I expect developers to do their duty to Britain and build the homes our country needs. I want to see planning permissions going to people who are actually going to build houses, not just sit on land and watch its value rise
The Daily Telegraph (06/03/2018)
9th March 2018
Figures from Halifax reveal that the rate of house price growth in the UK fell to just 1.8% in the year to February, its slowest rate of increase since the 1.1% recorded in March 2013. The average price of a home has fallen from £226,408 in November, to £224,353 last month, though prices actually rose 0.4% month-on-month in February. On a quarterly basis, house prices between December and February were 0.7% lower than in the preceding three months, marking the first quarterly decline since May 2017.
The Guardian (07/03/2018)
9th March 2018
Home owners trying to take their second step on the property ladder face a typical price gap of more than £135,000 to make the leap. The Lloyds Bank Second Stepper report found people who are looking to trade up typically live in a home valued at about £211,296, but the type of property they would like to move to – a detached home – will cost around £347,281 – a difference of £135,985. However, Lloyds also calculates that second steppers have an average equity level of £85,877 to inject into their next property, making it easier to make the jump. The survey also found that must haves for the second-steppers include parking space and a garden.
The I (02/03/2018) Daily Mail (02/03/2018)