Docklands News

Nearly 1m homeowners whose fixed-rate mortgages are due to expire in the next six months are being urged to secure new deals now amid concerns that borrowing costs could rise following November's Budget. Average mortgage rates edged up in October for the first time since February, with two-year fixes at 4.98% and five-year deals at 5.02%, according to Moneyfacts. Experts warn that economic uncertainty, stubborn inflation at 3.8% and market caution over the Chancellor's fiscal plans could delay interest rate cuts until 2026, potentially pushing mortgage rates higher. 

The Sunday Times (19/10/2025)  

Studio Egret West has submitted detailed proposals for phase three of its Bow Common development, comprising 364 homes in two buildings linked by a podium garden. The plot sits south of Tower Hamlets Cemetery Park, and north of Bow Common Lane. The wider scheme, for Berkeley Group subsidiary St William Homes, now totals 1,764 homes, up from 1,450, with phase one 80% complete and phase two expected to start on site next year. 

Architects' Journal (16/10/2025)  

A report by property consultancy Molior estimates that London will see only 15,000 private homes under construction by January 2027, a drastic decline from the typical 60,000 to 65,000. Currently, around 40,000 homes are being built, but this number is expected to fall due to a lack of new projects and rising construction costs. The report also highlights weak sales rates across all markets. 

The Standard (15/10/2025)  

Leaseholders in Britain are struggling with skyrocketing service charges, making homes difficult to sell. Data from PropertyData shows average charges in London range from £10,000 to £20,000 annually. Michael Dent, director at PropertyData, noted that charges exceeding 2% of a property's asking price deter potential buyers. In some cases, charges have reached six figures. The average service charge in London is now £4,120 per year. 

Daily Mail (15/10/2025)  

The average age of first-time buyers in the UK has decreased from 32 to 31 over the past year, according to TSB's analysis of third-quarter data. London remains the area with the highest average age, at 33, while Wales and Scotland have the lowest, at 30. Meanwhile, a survey by Censuswide reveals that 17% of first-time buyers aim to be mortgage-free before 40. 

The Independent (15/10/2025)   The Standard (15/10/2025)  

Average mortgage rates have risen for the first time since February, with financial information service Moneyfacts recording a month-on-month increase of 0.02%. This took the rate on an average two-year deal to 4.98%, while the average five-year mortgage has risen to 5.02%. The increase comes with lenders anticipating tax rises in next month's Budget, with it suggested that stamp duty may be replaced with an annual property tax while a capital gains tax on sales of homes worth £1.5m or more has also been mooted. Rachel Springall from Moneyfacts said: "Borrowers may well be disappointed to see fixed mortgage rates on the rise," adding: "Volatile swap rates and a cautionary approach among lenders have led to an abrupt halt in consecutive monthly average rate falls."  

Daily Express (14/10/2025)   Daily Mail (14/10/2025)   The Independent (14/10/2025)   The Standard (14/10/2025)