With only five months to go before the Opening Ceremony of the London 2012 Olympic Games, new research from Lloyds TSB reveals that the value of homes close to the main site of the London 2012 Olympic and Paralympic Games have increased by over £60,000 on average since London's winning bid was announced.
The average house price across the 14 postal districts closest to the main site for the London 2012 Olympic and Paralympic Games stood at £268,884 in November 2011, an increase of 30% (£62,739) from the average of £206,145 when London was awarded the Games in July 2005. This is equivalent to a monthly rise of £815. House prices across England and Wales have risen by 25% over the same period which on average is a monthly increase of £611.
Suren Thiru, housing economist, Lloyds TSB, commented:
"Overall house price performance among the postal districts that are in close vicinity to the Olympic park has been generally positive since London's successful bid in 2005. Some areas close to the main site for the 2012 London Games have experienced a sharp rise in property prices, reflecting increased buyer interest as well as the regeneration taking place there. However, some areas have yet to see as marked an improvement. Over the long term, house prices in the East End of London are likely to be supported by the Olympic legacy of improved infrastructure and transport links."
Friday, 2 March 2012
Thursday, 1 March 2012
Property: London Olympic Borough of Newham Portrayed
Property: London Olympic Borough of Newham Portrayed: Bloomberg reports on the London Borough of Newham, and it does not read so well. The east London borough is situated 5 miles (8 km) east ...
Tuesday, 28 February 2012
South East Housing Crisis Deepens
Fewer than half of the houses needed being built in the South East as housing crisis deepens
Summary of Results In the South East;
“South East is suffering from a serious under supply of housing. It is crucial that more homes are built, particularly for younger families and first time buyers.
“On top of the obvious social benefits - increasing affordability and easing the pressure on social housing waiting lists - building the homes the area needs would create thousands of local jobs and bring in millions of pounds from central government.”
South East Housing News
Summary of Results In the South East;
- Fewer than 50% of the homes needed for local families are being built
- The shortfall is costing 30,000 jobs
- No of families on social housing waiting lists has rocketed 73% in a decade
- Planning permissions have collapsed - down 42% in the last 5 years
- Average house prices more than doubled in a decade from £112k to £229k
- Around £135million of annual Government investment is being lost
“South East is suffering from a serious under supply of housing. It is crucial that more homes are built, particularly for younger families and first time buyers.
“On top of the obvious social benefits - increasing affordability and easing the pressure on social housing waiting lists - building the homes the area needs would create thousands of local jobs and bring in millions of pounds from central government.”
South East Housing News
Friday, 10 February 2012
East london Property Development Sales Launch in Singapore
Redrow Homes London has announced its sales launch in Singapore on February 18 and 19 of One Commercial Street, a mixed-use development set within a prominent 21 storey tower, incorporating over 200 residential units set above Aldgate East tube station, East London.
The development will feature spectacular views across London’s historic skyline and over 100,000 square feet of Grade A retail and office space. Sales for the property launch will take place in Singapore on the 18th and 19th of February, at the Shangri-la Hotel. Prices start from £330,000 (US$524,420) for 379 square feet, studio apartments, to £985,000 (US$1.56 million) for 1,025 sq ft two bedroom apartments. Expected rental returns for One Commercial Street are between four and six per cent.
Charles Calverley, regional director, Redrow London, said the launch reflects the continued appetite for London property by Asian investors. “In uncertain times, London offers a level of stability few locations can compete with, as well as offering desirable locations and good financial returns,” he said. Underlying this is an acute shortage of stock and high levels of demand that provide strong foundations to the London residential market.
East London has massive potential due to one of the largest regeneration projects in Europe (the £9.3 billion (US$14.7 billion) Olympic Park), and East London will also be the main benefactor of the Cross Rail project with completion set in 2017. The new line will provide direct access to Heathrow from stations such as Whitechapel.
The development will feature spectacular views across London’s historic skyline and over 100,000 square feet of Grade A retail and office space. Sales for the property launch will take place in Singapore on the 18th and 19th of February, at the Shangri-la Hotel. Prices start from £330,000 (US$524,420) for 379 square feet, studio apartments, to £985,000 (US$1.56 million) for 1,025 sq ft two bedroom apartments. Expected rental returns for One Commercial Street are between four and six per cent.
Charles Calverley, regional director, Redrow London, said the launch reflects the continued appetite for London property by Asian investors. “In uncertain times, London offers a level of stability few locations can compete with, as well as offering desirable locations and good financial returns,” he said. Underlying this is an acute shortage of stock and high levels of demand that provide strong foundations to the London residential market.
East London has massive potential due to one of the largest regeneration projects in Europe (the £9.3 billion (US$14.7 billion) Olympic Park), and East London will also be the main benefactor of the Cross Rail project with completion set in 2017. The new line will provide direct access to Heathrow from stations such as Whitechapel.
Monday, 6 February 2012
The Royal Borough Of Greenwich
The Queen has made Greenwich in south-east London a royal borough to mark her Diamond Jubilee.It is the first borough to be granted royal status in more than 80 years and is one of only four in the country.
The honour has been conferred to recognise the close links between Greenwich and royalty since the Middle Ages, the Cabinet Office said.The honour will be marked by a weekend of celebrations in Woolwich, Eltham and Greenwich town centres.
Greenwich will be one of six boroughs to host the London 2012 Games which start on 27 July.Council leader Chris Roberts said the borough was "proud to take centre stage" in a special year in which London celebrates the Olympics and the Queen's Jubilee.
"Our new royal borough status will drive forward our record levels of regeneration and cement our role as a key international destination for businesses and visitors from across the globe." He added: "It will create a legacy for local residents that will last for generations to come."
The honour has been conferred to recognise the close links between Greenwich and royalty since the Middle Ages, the Cabinet Office said.The honour will be marked by a weekend of celebrations in Woolwich, Eltham and Greenwich town centres.
Greenwich will be one of six boroughs to host the London 2012 Games which start on 27 July.Council leader Chris Roberts said the borough was "proud to take centre stage" in a special year in which London celebrates the Olympics and the Queen's Jubilee.
"Our new royal borough status will drive forward our record levels of regeneration and cement our role as a key international destination for businesses and visitors from across the globe." He added: "It will create a legacy for local residents that will last for generations to come."
Thursday, 26 January 2012
East Village; London's Newest Neighbourhood
East Village may be London's newest neighbourhood, yet you'll think it had been here for years. Lush wetlands, fully grown trees and fabulous fauna and flora. Local independent shops, cafes and bars, and Westfield Stratford City, just a short stroll away. Outstanding free schooling for all ages at Chobham Academy, a community centre and an advanced medical clinic. Not forgetting the obvious - world class sporting facilities right on your doorstep.
During the Games, the Olympic and Paralympic Village will comprise residential apartments for around 17,000 athletes and officials, along with shops, restaurants, medical, media and leisure facilities and large areas of open space.
The Village also includes a 'Village Plaza’ where athletes can meet with friends and family. The plan retains London's tradition of building homes around communal squares and courtyards, with water features accentuating the closeness of the River Lea.
Athletes will have an inspirational view over the Park. Every apartment will provide comfortable accommodation and state-of-the-art communications facilities, including internet access and wireless networking. All the apartment blocks will be fully accessible and equipped with modern lifts.
Athletes will have easy access to the travel and leisure facilities of the adjacent Stratford City complex, and the High Speed 1 Javelin® shuttle service will link the Village to central London in just seven minutes.
During the Games, the Village will include ‘back of house’ operations, and services for athletes such as catering and transport. The majority of these will be accommodated in temporary structures on sites that can be cleared for development immediately after the Games.
After the Games, the Olympic and Paralympic Village will be a lasting legacy of essential new housing for east London. It will be transformed into 2,800 new homes, including 1,379 affordable homes.
The communities that develop in the area after the Games will be supported by new parks, open space, transport links, and community facilities including Chobham Academy – a world-class new education campus with 1,800 places for students aged 3-19.
London Property News
During the Games, the Olympic and Paralympic Village will comprise residential apartments for around 17,000 athletes and officials, along with shops, restaurants, medical, media and leisure facilities and large areas of open space.
The Village also includes a 'Village Plaza’ where athletes can meet with friends and family. The plan retains London's tradition of building homes around communal squares and courtyards, with water features accentuating the closeness of the River Lea.
Athletes will have an inspirational view over the Park. Every apartment will provide comfortable accommodation and state-of-the-art communications facilities, including internet access and wireless networking. All the apartment blocks will be fully accessible and equipped with modern lifts.
Athletes will have easy access to the travel and leisure facilities of the adjacent Stratford City complex, and the High Speed 1 Javelin® shuttle service will link the Village to central London in just seven minutes.
During the Games, the Village will include ‘back of house’ operations, and services for athletes such as catering and transport. The majority of these will be accommodated in temporary structures on sites that can be cleared for development immediately after the Games.
After the Games, the Olympic and Paralympic Village will be a lasting legacy of essential new housing for east London. It will be transformed into 2,800 new homes, including 1,379 affordable homes.
The communities that develop in the area after the Games will be supported by new parks, open space, transport links, and community facilities including Chobham Academy – a world-class new education campus with 1,800 places for students aged 3-19.
London Property News
London's Olympic Housing Legacy
London's housing market is likely to be boosted by the Olympic Games, which will be hosted by the city this summer, but positive effects may not be seen until after the event has finished.
This is the opinion of chief executive at the National Federation of Property Professionals Peter Bolton King, who said while the tournament is still running, it may actually have the opposite impact.
For instance, people could be discouraged from looking at the London property market because of the increase in traffic around that time, he explained.
However, the specialist expects medium-term positive effects, as the area will be on show to the many visitors that will flood in for the competition.
"People will have looked at the area and will say, 'Hang on a minute, this might be an area in which I would like to live or invest'," Mr Bolton King stated.
The Olympic Games will be held between July 27th and August 12th, while the Paralympic Games are scheduled for August 29th to September 9th.
This is the opinion of chief executive at the National Federation of Property Professionals Peter Bolton King, who said while the tournament is still running, it may actually have the opposite impact.
For instance, people could be discouraged from looking at the London property market because of the increase in traffic around that time, he explained.
However, the specialist expects medium-term positive effects, as the area will be on show to the many visitors that will flood in for the competition.
"People will have looked at the area and will say, 'Hang on a minute, this might be an area in which I would like to live or invest'," Mr Bolton King stated.
The Olympic Games will be held between July 27th and August 12th, while the Paralympic Games are scheduled for August 29th to September 9th.
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