It’ll take young Londoners more than a decade to save for one of David Cameron’s starter homes May 27, 2016 The government's new starter homes initiative has come in for a lot of flack – but this may be its most damning criticism yet. Yep: new figures by property services giant JLL show if the average young couple in the capital started saving now, they wouldn't get their hands on a starter home until 2028. That's more than [...]
House prices are growing faster in Cambridge than in London May 27, 2016 If you've ever worried about getting on the housing ladder in London, spare a thought for the people of Cambridge. House prices in Britain's 20 biggest cities are showing double-digit growth in April – and prices in the commuter city of Cambridge are growing faster than in London. A report from Hometrack says that London house [...]
The British seaside towns holding referendums to ban holiday homes May 27, 2016 Another Cornish seaside town is gearing up to introduce restrictions that will limit the sale of holiday homes. Fowey residents – where more than a third of the properties there are second homes – are being urged to back a plan which will give them more control of its development. They will vote in a referendum which could result [...]
Home sales to first-time buyers hit a two-year high in April as landlords fled from stamp duty charges May 27, 2016 Sales of properties to first-time buyers hit a two-year high in April after buy to let stamp duty changes scared off landlords looking to purchase a second home. There were 32,300 first-time buyer home sales in April, up from 28,100 in March – a rise of 14.9 per cent. The increase year-on-year was 37.4 per cent. The [...]
Multigenerational households are set to rise across the UK May 27, 2016 As house prices soar across the country, a report released today predicts that the UK could become a nation of multigenerational households. There has been a 52 per cent rise in house prices between 2005 and 2015, according to the report from Aviva. During the same period, there has been a 32 per cent increase [...]
Privatising the Land Registry sounds like a great idea – but this is why it’s not May 27, 2016 It not uncommon to read about government policy decisions and count yourself lucky that you’re not the one making them. But when it comes to the current debate over whether to privatise the Land Registry, while a good idea on the surface, rejecting this proposal should be a no-brainer. It may not be a conundrum on [...]
Are you a GloMad or Tumbleweeder? Discover the London housing tribes that’ll be determining the property landscape May 26, 2016 Every week, City A.M. invites an industry professional to write about an emerging trend in the property market. Are you a MeCo, a Tumbleweeder, or perhaps a My Sizer? These are London’s new housing tribes. Through Strutt & Parker’s latest Housing Futures research, we discovered that 65 per cent of Londoners who intend to move [...]
Property Entrepreneurs: Johns & Co founder John Morley on how he plans to improve landlord-tenant relations May 26, 2016 For too many of London’s flat dwellers, their experience of property management has been wondering why repairs take so long and why calls for help go unanswered. Part of the problem lies in the fact developers have little long term interest in management once they have sold all the apartments in a scheme, so, all [...]
Focus On Deptford: First time buyers flock to SE8 in search of affordable homes, but is it the new Shoreditch? May 26, 2016 In Tudor times, Deptford was the centre of the naval world. Operated by the Royal Navy from the mid-16th to the late 19th century, the Deptford Docks maintained warships for 350 years and attracted the greatest mariners of the time to its shores, from Sir Water Raleigh to Sir Francis Drake. But once the navy [...]
Families pay £43,773 on homes that will get their children into the best schools May 26, 2016 It turns out that some state schools aren't fee-free at all: families looking to get their children into the best primary schools are paying a hefty premium to live in the right catchment area. Research released today shows that families shell out an average £43,773 to live within the catchment area of a primary school that [...]