Docklands News

London has maintained its position as the top city in the European Cities Growth Index (ECGI), according to LaSalle Investment Management's latest report. The capital's strong expected employment growth contributed to its ranking. Paris follows closely, boasting the highest human capital score. In the UK, the Manchester-Liverpool area and Bristol improved their rankings due to anticipated defence spending impacts. 

City AM (30/09/2025)  

London Mayor Sadiq Khan is considering reducing the affordable housing requirement for new developments. City Hall acknowledges that the capital faces a significant challenge, with the government estimating a need for 87,992 new homes annually from 2026. Councils are currently spending £5.5m a day on homelessness, mainly on temporary accommodation, up from £4.2m in 2023/24, underscoring the scale of the housing crisis. In 2024/25, only 3,991 affordable homes were started, with just 312 completed between April and June. 

The Standard (01/10/2025)  

UK house sales in August rose 2% year-on-year to an estimated 93,630, though this was 2% lower than July, following three months of consecutive increases, according to HMRC. Mortgage approvals for house purchases also fell slightly, from 65,161 in July to 64,680 in August, reflecting cautious buyer sentiment. Experts noted that while the market shows steady annual growth, economic uncertainty and high interest rates are prompting some homeowners to reconsider moving. Easing mortgage costs and softening house prices are helping to restore confidence, but upcoming events, including the November Budget and Bank of England decisions, will influence future transactions. Overall, analysts expect sales volumes to remain broadly in line with current levels. 

City AM (01/10/2025)   Daily Mail (01/10/2025)   The Independent (01/10/2025)   The Standard (01/10/2025)  

Mortgage approvals for home purchases in the UK fell slightly in August, with 64,680 approvals recorded, down from 65,161 in July, according to Bank of England data. Remortgage approvals also dipped, with around 900 fewer agreements made with different lenders. Analysts suggest the summer holiday period, the end of the stamp duty tax break, and uncertainty ahead of the autumn Budget have dampened buyer activity, particularly at the higher end of the market. Property experts note that rising borrowing costs and broader economic uncertainty are prompting caution among prospective buyers, slowing price growth and leading to more competitive seller pricing. 

Daily Mail (30/09/2025)   The Daily Telegraph (30/09/2025)   The Independent (30/09/2025)   The Times (30/09/2025)  

London's property price growth is stagnating at 0.7% - making it the worst performing area of the UK. Many sellers are slashing prices due to prolonged listings and rising supply, particularly in prime areas. Speculation surrounding a potential new property tax in the autumn Budget has left buyers hesitant, compounded by the abolition of the non-dom tax regime, which is driving away wealthy residents. Average house prices in prime central London have dropped significantly since 2014. Meanwhile, transaction levels are notably low, with properties often requiring substantial price reductions to attract buyers. But in some places, where reasonably priced homes continue to attract interest, there are still pockets of demand. Overall, the market's uncertainty is leading to a buyer's market, with many vendors opting to rent their properties instead. 

The Mail on Sunday (21/09/2025)  

A study by Nationwide examines how proximity to rail, underground, and tram services influences property buyers and renters in London, Manchester, and Glasgow. It highlights that over 80% of Londoners find access to transport crucial, with significant weekly usage, compared to around 60% in Manchester and Glasgow. Homebuyers in London are reportedly paying an 8% premium for properties within 500 metres of a station, about £42,700 more than those 1,500 metres away. Greater Manchester and Glasgow also observe similar trends, albeit at lower premiums. The pandemic has shifted housing preferences, but there is evidence of a gradual return to pre-COVID commuting levels. Additionally, research shows many older homeowners have delayed moving plans due to market conditions. 

Daily Mail (23/09/2025)   The Daily Telegraph (23/09/2025)   The Guardian (23/09/2025)   The Standard (23/09/2025)