Docklands News

The Times' Lara Bowman examines how the growing influence of the "Bank of Mum and Dad" is reshaping financial and social dynamics among Britain's younger generations. As soaring property prices far outpace wages, increasing numbers of young buyers rely on parental support to secure homes, deepening inequalities even among peers with similar incomes. While some openly acknowledge family help, others grapple with guilt, embarrassment, or strained friendships as disparities widen. Recent studies show that inheritance and parental gifts now play a far greater role in wealth accumulation for millennials than for previous generations. With house prices nearing nine times average earnings in England, experts warn that family wealth, rather than professional success, is becoming the key determinant of financial security. 

The Times (14/06/2025)  

The government has announced plans for a new National Housing Bank, aiming to stimulate private investment and support housebuilders. With an initial £16bn of public investment, the bank is expected to unlock over £53bn in private funding over the next decade, facilitating the construction of hundreds of thousands of homes. Chancellor Rachel Reeves stated that the bank will "unlock a wide range of sites," particularly those facing challenges in securing upfront lending. Homes England Chair Pat Ritchie said the initiative responds to demands from the housing sector for increased public and private finance. 

City Am (18/06/2025)   Daily Mail (18/06/2025)  

UK house prices experienced a larger-than-anticipated decline last month, marking the most significant quarterly drop in nearly a year. According to Halifax, the average property price fell by 0.4% in May to £296,648, exceeding the expected 0.1% decrease. This decline follows a 0.3% rise in April, resulting in a quarterly change of -0.3%, the steepest since June last year. In London, house prices have increased by just 1.2% year-on-year; however, the capital remains the most expensive part of the UK housing market, with the average home priced at £542,017. The annual rate of house price growth also slowed to 2.5% in May, from 3.2% in April. Amanda Bryden, head of mortgages at Halifax, noted: "Despite ongoing pressure on household finances, the housing market has shown resilience."

Daily Mail (07/06/2025)   The Guardian (07/06/2025)   The Independent (07/06/2025)   The Times (07/06/2025)  

Despite rising taxes and regulations, a survey by Market Financial Solutions reveals that a third of Britons still aspire to own a buy-to-let property. The survey highlights significant interest among younger individuals, with over half of those aged 18 to 34 expressing a desire to invest in rental properties. Paresh Raja, chief executive of Market Financial Solutions, explained: "It has become popular over the past decade to bash buy-to-let investing as being increasingly unappealing, but clearly that is far from the case." The report indicates that while challenges exist, particularly with increased costs and regulations, many still view property as a stable investment. The appetite for buy-to-let remains, especially if mortgage rates decrease in the future, potentially encouraging more investors to enter the market. 

Daily Mail (07/06/2025)  

A temporary lido on east London's Royal Docks is due to open on July 23rd. Summer Splash, at the Royal Docks close to City Hall, is a free-to-use pool penned into the docks using floating platforms, and is fully staffed with lifeguards. For young families, there are kids' lessons and sandpits, while older swimmers might want to take advantage of a 'lates' DJ series, and a wood-fired Sweheat sauna. It is part of At the Docks, a full programme of arts and events, including A State of Trance music festival, and two days of free outdoor circus, dance, physical theatre and street art.

Londonist (13/06/2025)