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Keystone London and GLA Land & Property have submitted plans to the London Borough of Newham for their £3bn residential-led, mixed-use redevelopment of a 40- acre site in Silvertown. Thameside West, master-planned by Foster + Partners, will comprise 5,000 homes, 200,000 sq ft of industrial space and workspace, and 75,000 sq ft of shops, restaurants and bars. The initial phase, designed by John McAslan & Partners, totals 500,000 sq ft comprising 460 mixed-tenure homes and 35,000 sq ft of workspace on the site of the former Carlsberg Brewery. Keystone chief executive Max James, said: “As one of the last major riverfront locations in London, the site offers a valuable opportunity to create a new community on The Thames with a genuinely sustainable mix of homes and workplaces aimed at a wide range of people living and working in this exciting part of London”. It will join a number of other developments in Silvertown, including Ballymore and Oxley’s 3,385 homes arranged around Millennium Mills, and Traders Quarter at Royal Wharf.
Property Week (17/01/2019) Evening Standard (17/01/2019)
A number of three-bedroom penthouses are on the market at Royal Docks West, a 19-storey tower just a three-minute walk from Custom House. The high-rise homes include a 777 sq ft terrace, along with two balconies perfect for soaking up the riverside views. Prices begin at £1,265,000,.while two-bedroom apartments on lower floors can be had from £590,000.
Evening Standard (15/01/2019)
House sales dropped in 85% of London boroughs last year, according to new data, as the UK’s property market experiences a tumultuous year marred by political uncertainty. In boroughs where sales fell, the average decline was 7.6% as a weighted average, with Tower Hamlets experiencing the worst fall at 22.5%. According to the analysis by smart homes provider Project Etopia, only five boroughs in the capital experienced a rise in transactions, with an average growth of 6.8%. “Falling transaction levels in a city like London, where affordability is a critical problem, is a sign of a sick housing market that refuses to adjust,” said Joseph Daniels, chief executive of Project Etopia.
City AM (11/01/2019)
More would-be homebuyers are opting to rent instead whilst they wait for Brexit to produce bargain property prices. A report from OneFamily warned that, as well as deterring young people from buying, existing homeowners are also delaying moving up the ladder. Some are choosing to sell and move back into rented accommodation, gambling on a house price crash before making their next purchase. If prices fall substantially, this strategy could make homeowners tens of thousands of pounds in profit, but they risk losing cash if prices recover.
The Daily Telegraph (11/01/2019)
Renters experience higher levels of harmful stress chemicals in their blood than those who own their home, a study from the Institute for Social and Economic Research suggests. Researchers looking at the health impacts of insecure or low quality housing suggest that renting privately could be harmful to the health and argue this should be considered when developing housing policies. The study also revealed that those living in flats had higher levels of a biological marker known as C-reactive protein (CRP) than those living in detached properties. CRP is a chemical found at elevated levels in the blood in response to stress, injury and infection .
The Independent (14/01/2019) The Daily Telegraph (14/01/2019)
New house price data from Lloyds Bank Private Banking has revealed a decline in sales of homes worth £1m or more in London, down 8%, with the capital's market share across the country of such homes falling to 57%, down 3% from 2017. Sarah Deaves, UK Wealth Director at Lloyds Bank, said: “Political uncertainty is likely to be influencing buyers’ decisions in the capital…Explanations for [nationwide] could be that homes outside of the capital are less likely to be used for investment with purchaser buying properties to live in”.
The Sunday Telegraph (06/01/2019)