Docklands News

House prices in the UK increased by 0.6% month-on-month in October, reaching a record average of £299,862, according to Halifax. The annual growth rate also accelerated to 1.9%, surpassing economists' expectations. In London, they declined 0.3% from a year earlier, to £542,273. Amanda Bryden, head of mortgages at Halifax, said affordability remained a challenge for many prospective buyers despite the fact that house prices have now risen more slowly than incomes for almost three years.

Financial Times (08/11/2025)   The Daily Telegraph (08/11/2025)   The Guardian (08/11/2025)   The Times (08/11/2025)  

The government’s plan to use Automated Valuation Models (AVMs) to set council tax on higher-end properties has sparked concern among experts. While AVMs - algorithms that estimate property values using location, market trends, and comparable sales - work well for standard homes, they are less reliable for unique or luxury properties, potentially leading to inaccurate valuations and overcharging. Critics warn that disputes over these valuations could cost taxpayers millions in legal and administrative fees. There are also fears the move could disrupt the housing market, slowing high-end sales while pushing wealthier buyers toward lower-priced homes. 

The Mail on Sunday (09/11/2025)  

St William, part of the Berkeley Group, has secured planning approval from the Borough of Newham's Strategic Development Committee for the £250m redevelopment of the 30-acre Beckton Gasworks site, with plans to deliver 2,977 new homes. A riverside park, an energy centre, car and cycle parking and other open spaces are also proposed. The homes are planned across 34 blocks of between six and 15 storeys height. “There is still a long way to go to bring this project into delivery, and we continue to work closely with the council, the Greater London Authority, Homes England and local stakeholders to develop a viable scheme that unlocks the site’s enormous potential", said St William managing director Dean Summers. “Berkeley Group is ready to invest over £250m in the first phase to remediate the site, strengthen flood defences, upgrade local infrastructure and begin creating a sustainable new neighbourhood in east London".

Ground Engineering (04/11/2025)   Metro (31/10/2025)   My London (01/11/2025)  

House price growth beat expectations last month
UK house prices rose more than expected in October, signaling resilience despite uncertainty over property tax reforms ahead of the November 26 budget. Nationwide reported a 0.3% monthly increase, following September’s 0.5% rise, and a 2.4% year-on-year gain. Nationwide chief economist Robert Gardner said: "Against a backdrop of subdued consumer confidence and signs of weakening in the labour market, this performance indicates resilience, especially since mortgage rates are more than double pre-Covid levels." Mortgage approvals also hit their highest since December, suggesting ongoing demand. Pantheon economist Elliott Jordan-Doak noted: "Some homebuyers are taking a wait-and-see approach to the budget . . . But the activity indicators holding up better than survey-based signals suggest that demand remains robust." Capital Economics’ Ashley Webb added: "Homebuyers may not be as fazed by the threat of tax rises . . . as it first appeared." Analysts expect gradual price growth and modestly improved affordability if income growth continues to outpace house prices.

The Daily Telegraph (01/11/2025)   The Guardian (01/11/2025)   The Independent (01/11/2025)   TheTimes (01/11/12025)  

The UK housing market is facing significant downward pressure, with many homes selling for below their initial asking prices. Rising interest rates, tax uncertainty, and an oversupply of properties have shifted power to buyers, who can negotiate aggressively. Research shows that two-thirds of homes under £2m have seen price reductions, particularly in the South East and South West. Experts say well-timed price adjustments - often 10% or more - are crucial to attract buyers, while properties requiring extensive updates struggle to generate interest, reflecting challenges across both rural and urban markets. 

The Daily Telegraph (02/11/2025)  

Average UK mortgage rates have fallen below 5% to 4.99% as of November 3, matching September’s level after an October rise, according to Moneyfacts. The drop signals a more competitive lending market and relief for borrowers facing renewals. However, experts warn the decline may be short-lived, depending on future Bank of England rate decisions and market conditions. 

The Independent (04/11/2025)   The Standard (04/11/2025)