Docklands News

Plans for Silvertown ‘vertical village’ given go-ahead

Proposals for a £3m “vertical village” in east London have been approved by Jules Pipe, London’s deputy mayor for planning, in a move that overrules Newham Council’s rejection last year. The 40-acre Thameside West site, co-owned by the GLA and Keystone London, will eventually host more than 5,000 homes and a new DLR station; the waterside project will also include offices, shops, bars, restaurants, a new primary school and around six acres of open space, including a riverside park directly below the path of the Emirates Air Line cable car. Keystone chief executive Max James said that work will begin shortly, with an anticipated finish date of February 2031 pencilled in. The DLR station should be open in 2023.

Evening Standard (25/08/2020)  

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Property sales rise as demand soars

July saw a jump in property sales, according to official data, but levels were still well below those seen last year. Figures from HM Revenue & Customs showed that there were 70,710 sales in July, up 14.5% on June. The market was boosted due to pent-up demand with no property transactions taking place during lockdown. However, sales were still 27.4% lower than last July. July's figures do not incorporate the expected "mini-boom" in transactions following the Government's cut to stamp duty announced on July 8. The HMRC numbers only show completed sales.

The Daily Telegraph (21/08/2020)   The Times (21/08/2020) 

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Lenders introduce raft of new borrowing restrictions

The Times’ Kate Palmer reports on fresh hurdles for first-time buyers as lenders attempt to limit the number of risky borrowers on their books. Banks and building societies are declining mortgages to those with deposits gifted by family members, buyers with small deposits and those who have been furloughed or work in sectors at high risk of job cuts, for example. UK Finance, the trade group for the banking sector, says lenders fear the ability of borrowers to keep up repayments in the future and are factoring in a sharp fall in house prices next year. Palmer says landlords are also facing restrictions, with banks favouring properties with high efficiency ratings and limiting lending to portfolio landlords.

The Times (21/08/2020)   Daily Mail (21/08/2020

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Millions of property viewers are just snooping

A survey has revealed that millions of people who arrange property viewings just want to get a look at the home of someone they know. Friends, family, co-workers and even ex-partners have been granted access by an estate agent to wander through a property in person. The survey by Direct Line Insurance calculates that 4.5m people have viewed the home of a relative when it's up for sale, 3.9m have taken a tour of a friend's property, and a similar number have checked out a neighbour's. Meanwhile, 22m people have used a property website to snoop on the home of someone they know. The top three motivations for having a peep at other people's homes online are to find out the value of other properties in the area, nosiness, and people wanting to see what they can afford.

Daily Mirror (25/08/2020)

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More shared-ownership Docklands homes on the market

Notting Hill Genesis has launched The Mare Building at Royal Albert Wharf, with one-and two-bedroom apartments available from £78,750 for 25% of a £315,000 home. The building is part of the £3.7bn ongoing regeneration of the Royal Docks. Elsewhere, Legal & General has 78 shared-ownership homes for sale at the South Quay Plaza near Canary Wharf. Flats there are available for 25% of a £315,000 home.

Evening Standard (19/08/2020)

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More shared-ownership Docklands homes on the market

Notting Hill Genesis has launched The Mare Building at Royal Albert Wharf, with one-and two-bedroom apartments available from £78,750 for 25% of a £315,000 home. The building is part of the £3.7bn ongoing regeneration of the Royal Docks. Elsewhere, Legal & General has 78 shared-ownership homes for sale at the South Quay Plaza near Canary Wharf. Flats there are available for 25% of a £315,000 home.

Evening Standard (19/08/2020)

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