Docklands News

Sales of new-build homes in London have fallen to their lowest level since the global financial crisis, with just 3,946 private and build-to-rent properties sold in the first half of 2025 - a nearly 30% drop year-on-year. According to research from Molior, only 1,691 homes were sold in Q2, the weakest quarterly total since late 2009. Tim Craine, founder at Molior, blamed London’s City Hall for deterring more new homes from being built. He said the Greater London Authority was negotiating "too hard" in demanding higher taxes from housing developers to fund affordable housing – putting developers off building more homes. Property experts warn the downturn puts the Mayor's target of 88,000 new homes a year at risk, with current figures meeting just 9% of the mid-year goal. Developers are calling for urgent reforms on both the demand and supply side to revive confidence and restore momentum in London's housing market

The Daily Telegraph (12/07/2025)  

According to latest figures from Nationwide Building Society, house prices in the UK are more affordable than they were two decades ago, with the average house price now 5.8 times the average annual salary, down from 5.9 in 2005. Over the past 20 years, house prices have risen by 73%, while earnings have increased by 76%. However, the house price to earnings ratio remains above the long-term average of 4.8. 

Daily Mail (15/07/2025)  

The rise of artificial intelligence technology is reshaping the mortgage industry, with over a third of homebuyers now using AI to explore their options. Research shared with City AM indicates that nearly half of users find AI the most effective tool for comparing mortgage options. However, traditional brokers have been slow to adopt this technology, with only one in eight incorporating AI into their advice processes. Jacqueline Dewey, chief executive of Smart Money, noted a "disconnect" between homeowners and brokers' priorities, suggesting that the future of AI in mortgages will likely be hybrid, combining efficiency with traditional broker services.

City AM (15/07/2025)  

Halifax has reported a 0.0% month-on-month change in typical UK property values in June, following a 0.3% decline in May. Amanda Bryden, head of mortgages at Halifax, said the market "remained steady", with the average property price at £296,665, approximately 2.5% higher than last year. Karen Noye from Quilter highlighted that the market may slow down due to seasonal changes, while Sarah Coles from Hargreaves Lansdown pointed out that high property prices are straining affordability. Overall, experts suggest that modest growth may occur later in the year as mortgage rates stabilise.

Daily Mail (08/07/2025)   The Daily Telegraph (08/07/2025)   The Independent (08/07/2025)   The Intermediary (08/07/2025)  

The June survey by the Royal Institution of Chartered Surveyors (RICS) signals a shift in the UK housing market, as buyer demand moved out of negative territory for the first time since December 2024. A net balance of 3% of property professionals reported an increase in new buyer inquiries - an improvement from the 22% decline noted in May. Tarrant Parsons, RICS head of market research and analysis, commented: "The UK residential market appears to be entering a more settled phase, with demand showing signs of stabilising." However, sales momentum is expected to remain muted, with a flat outlook for transaction volumes over the next year. While house prices continue to decline slightly - particularly in the South East and London - regions like Northern Ireland are seeing modest growth

Daily Mail (10/07/2025)   The Daily Telegraph (10/07/2025)   The Standard (10/07/2025)   The Times (10/07/2025)  

Recent data indicates that housebuilding has prevented a significant downturn in the construction sector, with residential work rising to 50.7 in June, surpassing the neutral benchmark of 50. Despite a rise in stamp duty rates potentially dampening demand, firms reported an increase in new projects and sales pipelines. However, other areas like commercial and civil engineering faced declines, with commercial activity dropping sharply. Staffing numbers continued to decrease due to higher employment taxes set by Chancellor Rachel Reeves, while material costs rose. Matt Swannell from EY ITEM Club noted that "recent PMI readings appear to have been overly pessimistic," suggesting that while the sector faces challenges, there are signs of resilience.

City AM (04/07/2025)   Daily Mail (04/07/2025)   The Daily Telegraph (04/07/2025)