020 7538 0102
17th February 2017
Single buyers earning an average London wage will spend anything from five to 68 years saving for a deposit, according to a new report. It compares average house prices and wages for every London borough, and found that in Kensington & Chelsea, it would take 68 years to save for a deposit, as wages average £38,000 and homes sell for an average of £1.3m. Barking and Dagenham comes in at London's most affordable borough, where prices average £289,000 and the typical wage is £28,000.
Evening Standard (14/02/2017)
10th February 2017
Creekside, a formerly derelict piece of land between Deptford and Greenwich, has undergone something of a renaissance in recent years, epitomised by The Gramercy, at Creek Road – a new scheme of flats and town houses, minutes away from the Cutty Sark, Greenwich Market, and the National Maritime Museum. Boasting a fast-improving high street, the area enjoys speedy transport links, being just six minutes from London Bridge on the train, and an even shorter distance to Docklands via the local DLR station. Prices start at £630,000 for a two-bedroom apartment.
Evening Standard (07/02/2017)
10th February 2017
New home registrations in London dropped by a third last year following a decline in building following stamp duty reforms and the Brexit vote. The number of registrations dropped from 25,760 in 2015 to 17,322, according to figures from the National House Building Council. In the UK as a whole, the total number of new registrations fell by 2%, from 155,504 to 151,687. However, excluding London, the number of registrations rose from 129,744 to 134,365; registrations were up in seven out of the 12 regions analysed. NHBC business development director Mark Jones said: "Taking into account the extraordinary events of 2016, the UK housebuilding sector has remained resilient”.
City AM (03/02/2017)
10th February 2017
A new report by the National Housing Federation shows that to purchase the average London property by 2021 savers will need to save £2,300 a month – starting now. The federation suggests that a prospective buyer would need a household income of almost £130,000 a year to make buying a home in the capital a realistic option.
Evening Standard (07/02/2017)
10th February 2017
Annual growth in house prices slowed in January and the trend is expected to continue throughout 2017, according to the Halifax, which said that property prices rose by 5.7% in the year to the end of January, slower than the 6.5% annual growth seen the previous month, leaving the typical home valued at £220,260. It noted that prices fell 0.9% in January – a dip of £2,000 – compared to December’s 1.6% increase. Martin Ellis, Halifax’s housing economist, said that the annual rate of growth remained "robust" due to an "ongoing shortage of property for sale, low levels of housebuilding, and exceptionally low interest rates."
The Daily Telegraph (07/02/2017)
3rd February 2017
LBS Properties has secured a £135m senior development loan from ICG-Longbow to fund the construction of The Madison, a 53-storey residential tower at Marsh Wall, near Canary Wharf. Designed by Make Architects, the 187m hexagonal structure will house 423 luxury flats, 104 of them classed as affordable. Piling works are already underway, with the excavation of the basement and construction of the main concrete frame soon to begin. South Quay DLR station offers easy access to the City, while the Canary Wharf Crossrail station will provide a direct link to the West End and Heathrow Airport from 2018. The entire project is due for completion in 2020, with the development now over 35% sold.
Property Week (27/01/2017) Construction Enquirer (02/02/2017)