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7th July 2017
Research by Santander for the Standard shows that house prices in London are rising by more than their owners’ salaries each year. Through 2015 and 2016, property prices in London boroughs rose by an average of 11%, or £46,370 - a figure exceeding the capital’s £37,114 average wage. Researchers say evidence of the trend stretches back over analysis covering both the last five years and the last decade.
Evening Standard (05/07/2017)
7th July 2017
A “platinum penthouse” at Stratford Riverside featuring a 750 sq ft leisure terrace equipped with a chef’s barbecue, cocktail bar, spa pool and lounge/dining area has gone on sale, for £2.9m. The property offers views of Canary Wharf and the City of London from its six balconies, along with three VIP bedroom suites, a master bathroom complete with free standing bathtub, and two further luxury en-suites.
Business Insider (04/07/2017)
30th June 2017
Newham Council have approved planning permission for a development of 975 homes in Silvertown Way, Canning Town with additional space for commercial elements including a hotel and restaurants. The Brunel Street Works project is being developed by Opal, a partnership formed of Thames Valley Housing, Galliford Try and Fizzy Living, with work due to be completed by 2021. Project lead Rebecca Taylor, partner at JTP, said: “Brunel Street Works will be a vibrant, mixed-use urban quarter, harnessing JTP’s place-making expertise through an extensive community engagement process to create a diverse community with a distinct identity, at the high density needed in this area of east London.
The Wharf (30/06/2017)
30th June 2017
The London Legacy Development Corporation have granted assent to The Collective for a 19-storey communal block in Stratford following success with a similar scheme in Acton. The residential scheme will be formed of 250 rooms consisting of a small bedroom, bathroom and kitchenette with everything else being shared facilities such as gym, sauna, roof terraces and cinema room. Reza Merchant, chief executive of The Collective, said: "Our first site at Old Oak is now fully let, with a waiting list, and Stratford marks the perfect second location for us.” The Collective has bought a third site for development in Canary Wharf.
Evening Standard (29/06/2017)
30th June 2017
London is the second-best city in the world to invest in property, despite impending Brexit, jumping up from 8th place in the last index produced by investment firm Schroders. The Schroders Global Cities 30 index, which looks at factors affecting especially commercial property, was dominated by big American cities with the top spot taken by Los Angeles. “We maintain that London has a competitive advantage in location, language, scale, infrastructure and cultural diversity,” said Hugo Machin of Schroders.
Daily Mail The Daily Telegraph (27/06/2017)
30th June 2017
Data from Barclays Mortgages shows that 51% of buyers who made their first property purchase in the last five years regret not negotiating on the price. It also found that a fifth paid an average of £8,000 over the asking price – with this hitting £13,000 in London. Barclays said a fear of missing out on a property may have driven the failure to haggle and the inflated prices. With this in mind, the Telegraph offers advice to new buyers, saying they should: avoid rushing in; use an independent survey to negotiate a discount; and exploit the fact they are not in a chain.
The Daily Telegraph (24/06/2017)