Docklands News

Ballymore is planning to submit a new application to Newham Council for a major riverside neighbourhood, two-and-a-half years after Mayor Sadiq Khan said the project needed more affordable homes. The 11-block development on the Thames Road industrial estate in Silvertown now includes 350 affordable co-living homes. The hybrid application is expected to be resubmitted this June with 798 homes in the detailed element and 862 in outline. Other changes made by lead architect Howells include second staircases added to the buildings, and an increase of 28 in the total number of homes, to 1,638. The project still includes more than 16,000 sq m of light industrial space, 25,000 sq m of public realm and park space and a 5,000 sq m primary school.

Building (09/04/2024)  

Architectural practice Patel Taylor’s plans for 547 new homes at the former News International printworks site in Wapping have won the backing of the Tower Hamlets Strategic Development Committee. The proposals for Berkeley Group's St George subsidiary include two blocks of 16 and 22 storeys. Recommending the scheme for approval, council planning officers said the design, height, massing and architectural appearance of Patel Taylor’s proposals would “respond positively to the existing and emerging local context”.

Building Design (09/04/2024)  

The average house price in the UK fell by 1% in March, marking the first monthly decline since September last year. According to Halifax, the average home now costs £288,430, down £2,900 from the previous month. Kim Kinnaird, Halifax's director of mortgages, said the housing market "remains sensitive to the scale and pace of interest rate changes. That a monthly fall should occur following five consecutive months of growth is not entirely unexpected, particularly in view of the reset the market has been going through since interest rates began to rise sharply in 2022. Despite this, house prices have shown surprising resilience in the face of significantly higher borrowing costs." 

BBC News (06/04/2024)   Daily Mail (06/04/2024)   Financial Times (06/04/2024)   The Daily Telegraph (06/04/2024)  

Office for National Statistics data shows that first-time buyers are increasingly reliant on help from family and friends to get onto the housing ladder. Between April 2022 and March 2023, 36% of recent first-time buyers used gifts from family and friends to help buy a home, while 9% relied on inheritance. These rates far exceed these seen 20 years ago, when 20% of first-time buyers received financial support from family and friends and 3% relied on an inheritance. Data also shows Britons are purchasing their first home at 36, earning the greatest salary by 47 and are mortgage-free by 61. Meanwhile, the increase in private renting is greatest among those aged 35 to 54. In 2021, 21% of this group rented privately, compared with 14% in 2011. 

City AM (08/04/2024)   I (08/04/2024)  

A messy next-door neighbour can significantly decrease the value of a seller's home, with unkempt gardens and even garden gnomes deterring potential buyers. According to insurer Churchill, 82% of estate agents emphasise the importance of improving the appearance of neighbouring properties before putting homes on the market. On average, a messy neighbour can reduce a home's value by £31,000, which is around 10% of the average house price in England. The biggest impact is seen in London, where untidy neighbours could decrease the sale price by over £56,950. 

The Daily Telegraph (06/04/2024)  

Chalegrove Properties' plans for a seven-storey extension to a consented residential tower scheme in the Isle of Dogs, have been given the green-light by Michael Gove. The developer's proposal to extend the 48-storey project at One Thames Quay, 225 Marsh Wall, to 55 storeys were rejected in June 2022 by Tower Hamlets Council, due to concerns that the structure would be “detrimental to the townscape and Canary Wharf skyline”. However Mr Gove, Secretary of State for Levelling Up, Housing and Communities, agreed that the tower "would be just another tall building… and would not, in the panoramic view from Greenwich Park, be intrusive or have any adverse effect on the distinctiveness of the area”. Construction is already underway on the development; at completion, it will include 390 apartments, 84 of which will be affordable. 

Property Week (28/03/2024)