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The average price of a home in London has fallen below the half a million pound mark for the first time since July 2021, according to Land Registry figures published on Wednesday. UK house prices in March rose year-on-year for the first time since last summer; however, London and the South East were the only regions where they declined. The average price of a house in London in March was £499,663, a £17,500 annual decline. Inner London house prices were falling fastest, by 7.3%. In each of Westminster, Camden and the City, prices were down by more than 20% year-on-year. In contrast, the price of an outer London flat was down only 1%. |
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Evening Standard (22/05/2024) |
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A new London bridge spanning the River Lea at Ailsa Wharf, connecting Tower Hamlets and Newham, is set to go ahead after approval from Tower Hamlets Council. The bridge will provide space for cyclists and pedestrians, improving access to community facilities, public transport and the Queen Elizabeth Olympic Park. The joint venture between Tower Hamlets and Newham Council aims to encourage healthier and environmentally friendly travel choices. The bridge will feature hydraulic lifts to accommodate larger boats, although concerns were raised about the maintenance costs. However, external funding will be available to assist with the expenses. The bridge is expected to be adopted into Newham Council's highways network. Newham Council is expected to approve the plans on its side of the River Lea later this year. |
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The Express (21/05/2024) |
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The London Councils group has raised concerns that new controls on holiday and short-term lets planned for introduction in England this summer could exacerbate the capital's housing crisis. These changes would require people to seek council permission to turn their home into a short-term let. However, existing short-term lets would be automatically reclassified, which could result in the "overnight loss of thousands of homes" from London’s permanent housing stock. Cllr Darren Rodwell said: “With housing and homelessness pressures in the capital worse than ever, boroughs are extremely concerned about losing permanent housing stock. The priority has to be ensuring homes are available for long-term residents." |
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BBC News (21/05/2024) |
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A report by the Office for National Statistics (ONS) reveals that in 2023 42% of people aged between 15 and 34 were still living with their parents. This includes 60% of all 21-year-olds and 50% of 23-year-olds. Sarah Coles, head of personal finance at the investment platform Hargreaves Lansdown, said: "Flying the nest used to be a rite of passage, now it's a right reserved for those with plenty of money. Some 3.6m of those aged 20 to 34 are still stuck at home in their childhood bedroom.” She added: "In a huge number of cases it comes down to the fact they can't afford a place of their own". |
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The Sunday Times (19/05/2024) |
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Plans for a new set of tower blocks up to 35 storeys tall have been outlined for East Greenwich, beside the Grade II listed Enderby House, a 19th century pub once owned by the largest whaling and sealing company in Britain, Samuel Enderby & Sons. Planning documents from Buckley Gray Yeoman on behalf of Maritim View Limited show a total of 563 homes spread across three towers of three, 23 and 35 storeys tall respectively. A residential garden is planned between the three blocks with space for a café and shops also included. The plans will be discussed at a planning meeting for Greenwich Council on May 21st. |
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Evening Standard (15/05/2024) |
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A report suggests London is on course to become something of a "Manhattan-on-Thames" as almost 600 more future skyscrapers are planned to cram into gaps of the capital's crowded historic skyline. According to the 10th annual tall buildings report from think-tank New London Architecture, there are 583 tall buildings of more than 20 storeys in the pipeline, more than twice as many compared to the past decade. |
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Evening Standard (13/05/2024) |