Writing in the Telegraph, Communities Secretary James Brokenshire has revealed £250m of new housing deals to build almost 25,000 properties. He says the Homes England housing accelerator will deliver more than 10,000 properties on Ministry of Defence sites. Other initiatives include £78m in loans released in London to build 1,500 properties - including 450 affordable homes - in the Queen Elizabeth Olympic Park. Mr Brokenshire also writes of the importance of quality housing being built, with standards to be monitored by the introduction of a New Homes Ombudsman.
The Daily Telegraph (13/02/2019)
Increases in stamp duty have caused a slowdown of the housing market, the Bank of England has warned. Increased taxes for expensive properties and second homes put in place by former Chancellor George Osborne have put off potential buyers, the Bank’s economists said. “The London market has probably been disproportionately affected by regulatory and tax changes,” a report from the bank stated.
Daily Mail (08/02/2019)
To stem the London housing crisis, Robert Colvile, director of the Centre for Policy Studies think-tank, outlines a plan called Help to Own, whereby any landlord who sells to their tenant would get a capital gains tax rebate worth around a third of their tax bill - £10,000 for an average sale. The other two thirds of the tax rebate would go to the tenant, he suggests, as a contribution towards a 10% deposit to help them buy a home. Since 1997, Colville adds, the number of private rental households has more than doubled, from 2.1m to 4.7m, and he argues that his approach would be better than starting "a war on landlords."
Evening Standard (11/02/2019)
A planning application has been lodged to build a pedestrian and cycle bridge connecting Canary Wharf and Rotherhithe. The proposed design would create the longest bascule bridge in the world, an elegant, wishbone-like structure that opens to allow tall ships to pass through. Southwark Council’s masterplan comprises more than a dozen individual projects, including a skyscraper by renowned architect David Chipperfield.
Evening Standard (04/02/2019)
House prices saw their steepest monthly decline since April last month, as the property market continues to suffer from Brexit uncertainty. House prices dropped by 2.9% in January, following a 2.5% increase in December, leaving national average prices at £233,691, according to the latest figures from Halifax. The mortgage lender added that price growth was likely to “remain subdued in the near term”.
The Daily Telegraph (07/02/2019)
House prices in UK cities are outpacing wage growth by 11%, according to Lloyds Bank, which found that the ratio of average prices across 62 cities to average city earnings has reached 7.2, the highest level since 2007. The new report reveals that the average house price has risen over 37% from 2013 to its highest ever level of £248,233 in 2018. Greater London is the fifth least affordable UK city, with average house prices of £503,000 now 10.3 times the average earnings of £48,604.
The Mail on Sunday (03/02/2019) City AM (03/02/2019)