News
Essential news affecting the world of property
Land Registry resumes publication of its House Price Index
August 19, 2020
19 August 2020
The Land Registry has resumed publication of its House Price Index, with the April 2020 data showing prices falling in London by 1.6% for the period March to April 2020, however confirms an annual rise of 2.3% to April 2020. The Nationwide House Price Index showed annual growth for the UK of 1.5% in July 2020, and a monthly rise of 1.7%, reversing the previous month's fall. More
Planning approval for the creation of a new 5 million sq ft neighbourhood in West Silvertown E16
August 10, 2020
7 August 2020
Keystone London and GLA Land and Property are to gain outline consent for the redevelopment of the West Silvertown area of the Royal Docks. The scheme masterplanned by Foster and Partners will be know as Thameside West and includes 5,000 homes, 19,000 sq m of workspace, 7,000 sq m of leisure and retail, a new riverside park and a new DLR station. More
Government to overhaul planning system protecting green spaces and allowing more building on brownfield sites
August 6, 2020
6 August 2020
The UK government announced its plans to overhaul the planning system, categorising land for growth, renewal or protection. The aim is to protect green spaces and speed up the delivery of new homes on brownfield sites. More
Hackney Council approves flexible working and co-living development at Kingsland Road E8
July 31, 2020
29 July 2020
Hackney Council have approved the demolition of an existing building and construction of a 6/7 storey building comprising of flexible working space and co-living accommodation at 305a Kingsland Road E8. The developers are Pause and the scheme was designed by PH+ Architects. More
Scheme approved to redevelop Dulwich Hamlet Football Stadium
July 28, 2020
27 July 2020
Southwark Council planning committee has approved an application to redevelop Dulwich Hamlet Football Stadium creating a new stadium and 219 residential dwellings. The application was submitted by Dulwich Hamlet Football Club and Meadow Residential and the scheme was designed by Alan Camp Architects. More
Government proposes major changes to planning Use Class Order
July 21, 2020
21 July 2020
The UK government has announced changes to the Use Class Order that will come into effect from 1 September 2020. A new Class E (Commercial Business and Services), will replace the existing Classes A1, A2, A3, B1, D1 & D2, with some exclusions. More
UK Government cuts Stamp Duty by reducing the threshold to £500,000
July 8, 2020
8 July 2020
In a 'Plan for Jobs' speech the Chancellor Rishi Sunak announced that the threshold for stamp duty was being raised from £125,000 to £500,000 resulting in no stamp duty being paid for transactions below that level. This is a temporary cut effective immediately and running to 31st March 2021. More
Plans submitted for South Kensington Station development
July 6, 2020
2 July 2020
Architects Roger Stirk Harbour + Partners have submitted plans, on behalf of Transport for London and Native Land, to overhaul South Kensington Station. The proposals, extending to 12,000m2, include a four storey building incorporating retail and workspace, with the surrounding land providing 50 additional homes. More
Planning application submitted for historic wholesale food markets at Dagenham Dock
June 3, 2020
3 June 2020
The City of London Corporation has submitted a planning application to develop a 42 acre site at Dagenham Dock, the former site of Barking Reach power station. If successful, London's historic food markets, Smithfield, Billingsgate and New Spitalfields will move to the site in 2025, creating a world class wholesale food location. More
Residential property transactions in April are at levels last observed during the 2008 global financial crisis
May 21, 2020
21 May 2020
HMRC estimates that UK residential property transactions in April 2020 were down by 53.4% over April last year, and 46.1% lower than March 2020. Non residential transactions were 45.2% lower than April 2019 and 22% lower than March 2019. More
Housing secretary announces reopening of the housing market
May 13, 2020
13 May 2020
The government has announced that from 13th May 2020 house moves can how go ahead, subject to restrictions. Estate agents' offices and show homes can open and viewings can go ahead as long as guidelines are followed. More
The number of tall buildings in London increased by 140% in 2019
April 21, 2020
21 April 2019
A record 60 tall buildings were built in London in 2019, that is up 140% on the 2018 figure, according to the Annual Tall Buildings Survey published by New London Architecture and Knight Frank. 88% of the completed buildings are residential. Furthermore there are 525 buildings in pre-planning, planning and construction. More
Barratt Developments furloughs 85% of its workforce in response to COVID 19
April 19, 2020
16 April 2020
In response to COVID-19 Barratt Developments, Britain's largest house builder, temporary closes all sales centres and construction sites and suspends all house buying activity. Furthermore 85% of their staff are to be furloughed on full pay. Activities are to recommence when it is appropriate to do so. More
Coronavirus Business Interruption Loan Scheme for loans up to £5m
March 24, 2020
24 March 2020
The UK government has announced the Coronavirus Business Interruption Loan Scheme, offering businesses loans of up to £5m to help survive the disruption caused as a result of the COVID-19 outbreak. The scheme is operated by the British Business Bank via accredited lenders. More
Monetary Policy Committee cuts interest rates to record low of 0.1%
March 19, 2020
19 March 2020
The Bank of England's Monetary Policy Committee cut interest rates to a record low of 0.1% at a special meeting on the 19th of March. The aim of the cut is to help UK businesses and households cope with the economic disruption expected as a result of the measures necessary to contain the spread of the Covid-19 virus. More
Bank of England reduces Bank Rate from 0.75% to 0.25%
March 12, 2020
10 March 2020
The Bank of England reduced the Bank Rate from 0.75% to 0.25% and launched a Term Funding Scheme to assist households and businesses to cope with the disruption associated with Covid-19. More
Housing Secretary outlines proposals to update the planning system to encourage building
March 12, 2020
12 March 2020
The UK government is to streamline the planning process to speed up the decision making process. Housing Secretary Robert Jenrick MP announced proposals to encourage building upwards, above stations and the housing-led redevelopment of high streets. More
Market with outlets committed to sustainable practices opens in Camden
March 11, 2020
11 March 2020
Buck Street Market in Camden, designed by architects Eric Reynolds, is made from 88 recycled shipping containers and will house 80 retail outlets over 26,000 sq ft. The food and retail brands will all be committed to sustainable practices and processes. More
Rightmove reports sales agreed in London up by over 25%
February 17, 2020
17 February 2020
Rightmove reports a 26.4% increase in sales in London compared to the same month a year ago. The average price of property coming to the market in London has also increased by 2.7% compared to last month and a 2.4% increase on the same month last year. More
Whiteleys planning approved for a mixed use development in excess of 1 million square feet
December 22, 2019
20 December 2019 Westminster Council have approved plans to redevelop the Grade II listed Whiteleys Shopping Centre in Queensway. The scheme will provide 153 apartments and town houses, a hotel and 75,000 sq ft of retail, while restoring the listed facade, central courtyard and dome. More
London remains vital for global retail expansion
April 11, 2019
9 April 2019
Despite a softening of the retail market in London, Bond Street together with Marylebone High Street and Spitalfields remain robust. Zone A rents at Bond Street are currently £2,500 per sq ft. More
Capital’s Fourth Tallest Residential Tower to be Built at Old Kent Road
March 14, 2019
13 MARCH 2019 Aviva Investors and Galliard Homes have secured planning for a £600m scheme at the Old Kent Road. The site will include 8 new blocks including a 48 storey residential tower designed by Brisac Gonzalez, which will be the fourth tallest in London. More
NLA’s Annual Tall Building Survey reveals 76 tall buildings to be completed in London in 2019
March 8, 2019
4 March 2019
New Architecture London and G L Hearn's Annual Tall Building Survey shows that the number of tall buildings under delivery is the highest in history. In 2019, 76 buildings over 20 storeys will be completed, which is three times the number completed in 2018. More
Mayor of London supports rooftop development
March 4, 2019
27 February 2019
The Mayor of London has supported rooftop developer Apex Airspace by providing a loan of £10m to create new homes above existing buildings. The firm will use the latest technology, using offsite construction methods, to minimise disturbance to neighbouring properties. More
London retains top position for commercial real estate according to Knight Frank
February 6, 2019
6 February 2019
Knight Franks' London Report finds that London retains the top position in the world for investment in commercial real estate, attracting £16.2bn in 2018. The next wave of technology firms are expected to create substantial demand in the future. More
Olympia London gains Planning Permission to update the 130 year old exhibition centre
January 30, 2019
30 January 2019 Hammersmith and Fulham Council have approved planning for an update to the Olympia Exhibition centre. The project includes two new art venues, a four screen arthouse cinema, 10,000 sq ft of performance and rehersal space, 2.5 acres of pedestrianised public space and new cafes, hotels, restaurants and shops. More
Strutt & Parker identify ideas, including Blockchain and AI that will shape the future of home ownership
October 31, 2018
October 2018
The Housing Futures survey carried out by Strutt & Parker identify 8 ideas that will shape the future of home ownership. The ideas include using blockchain to record transactions, driverless cars affecting the importance of public transport, peer to peer lending and crowdfunding to fund development and investment, on-site energy sources, and AI and machine learning to create intelligent homes. Strutt & Parker More
Go ahead for £314 million Regeneration of the Royal Docks in East London
June 27, 2018
27 June 2018
London's only Enterprise Zone, the Royal Docks in East London, has been given the green light for a £314 million regeneration. Detailed plans for the 112 hectare Royal Docks Enterprise Zone were signed off by the London Economic Area Partnership. More
Three major residential developments start the construction in Old Oak Common
June 18, 2018
18 June 2018
Old Oak Common in West London is the only place in the UK where HS2 and Crossrail meet. The recent approval of three major private residential schemes will kickstart development in the £26 billion opportunity area. More
Stamp Duty Cut Saves First Time Buyers in London £4,300
April 27, 2018
Stamp Duty Cut Saves First Time Buyers in London £4,300
27 April 2018
The government scrapped stamp duty for first time buyers for homes valued up to £300,000 and reduced the amount payable for houses valued between £300,000 and £500,000. As a result the average first time buyer in London saved £4,300. HMRC More
Living Rooms in the UK are almost a Third Smaller than they were in the 1930s
April 8, 2018
8 April 2018
Using data from Rightmove and Zoopla, LABC Warranty have analysed data of 10,000 homes from the 1930s to the present. The results show that average size of homes peaked in 1970 at 58m2 and are now 46m2. More
First Phase of Westfield Expansion to Open in March as Part of the £8 billion Regeneration of White City
March 19, 2018
19 March 2018 The first phase of the 740,000 expansion of Westfield London is scheduled to open on 20 March 2018 with John Lewis opening its doors to their 230,000 sq ft store. The expansion forms part of the £8 billion regeneration of the White City Opportunity Area. Westfield London More
Government Announces Overhaul to the National Planning Policy Framework to Increase the Supply of Homes
March 7, 2018
5 March 2018
The government has announced a major overhaul of the National Planning Policy Framework to encourage the construction of new homes. The overhaul aims to ensure that the right homes are built with increased responsibility for both local authorities and developers to ensure that homes are built. More
Small Publicly Owned Land for Sale in London
March 1, 2018
The Mayor of London is making available a number of small publicly owned sites in London for small developers, housing associations and communities. Land currently available for sale in London include: Albany Road, Edmonton N18 2DY; Aylesbury Street, Neasdon NW10 0AP; Beechwood Avenue, Finchley N3 3AU; Brent Mead Place, Brent Cross NW11 9LJ; Bridge View, Hammersmith W6 9DD; Cable Street, Shadwell E1 0DR; Christchurch Road Streatham Hill SW2 4AP; High Street, Colliers Wood SW19 2BN; Long Lane, Finchley N2 8JP; Portree Street, Poplar E14 0HT. More
London Mayor approves 21 Storey ‘off-site’ Building with 100% Affordable Housing
February 17, 2018
13 February 2018
The Mayor of London has approved architects Metropolitan Workshop's 21 storey building in Croydon which is to be constructed 'off-site' in factories and then placed on site. The developer Pocket Living has agreed to make all of the 153 homes affordable. Mayor of London More
Crossrail Regeneration to Create 180,000 New Homes by 2026
February 8, 2018
Crossrail Regeneration to Create 180,000 New Homes by 2026
30 January 2018
Research by the property consultancy GVA shows that 180,000 news homes will be created along the crossrail route by 2026, together with 4.4 million square feet of new commercial space by 2021. The research shows that the impact of the Elizabeth Line will be significantly greater than initially predicted. Crossrail More
UK Housing Stock Value
January 24, 2018
UK Housing Stock is Valued at £7.14 Trillion an Increase of 34% over Ten Years
19 January 2018
The total value of housing stock in the UK has risen by £1.82 trillion over the last 10 years, to £7.14 trillion. London accounts for a quarter of the total value, at £1.785 trillion, but only 12% of the homes. More
City of London Skyline in 2026 with 13 New Consented Schemes
December 28, 2017
28 December 2017
The image above shows City of London's skyline in 2026 following the construction of 13 new consented schemes. The buildings are to have off site consolidation for deliveries and six of the buildings are to have free public viewing galleries. More
London Office Construction Lower over Last Six Months to 12.6 million sq ft
November 28, 2017
28 November 2017
A Deloitte survey shows that the development of new offices in central London is down 9% over the previous six months, but volumes are still high compared to the long term average. The west end market in contract shows a 20% increase in activity. More
Crossrail Programme is 87% Complete with Final Track installed at Whitechapel
October 1, 2017
October 2017
The final part of the track that forms the Elizabeth line has been completed at Whitechapel Station. This coincides with the completion of Abbeywood Station, one of the 10 new stations that form part of the Elizabeth Line. More
Fast Track Planning for Sites that Provide 35% Affordable Homes
August 17, 2017
17 August 2017
The London Mayor aims to increase the supply of affordable homes by offering a fast track planning permission for developments that offer a minimum of 35% affordable homes. Developments on public land need to provide 50% affordable homes to quality for the fast tract service. More
Highest Number of New Homes Built Since the 1930s but London needs more Affordable Homes
April 4, 2017
Highest Number of New Homes Built Since the 1930s but London needs more Affordable Homes
4 April 2017
According to a report by Savills the there are record number of houses being built in London since the 1930s with indicators suggesting 41,000 in 2016, but these do not meet the demand for homes costing less than £450 per sq ft. Savills estimate that 58% of the demand is for such homes, but only 15% of homes to be built in the next five years are forecast to be at this level. More
