Boris Johnson announces his Thames social and economic regeneration scheme
The Mayor of London has published the draft London Riverside Opportunity Area Planning Framework (OAPF) which will create 26,500 new houses and up to 16,000 jobs. Boris Johnson has earmarked 38 ‘Opportunity Areas’ within London. These are chiefly brownfield land with good potential for housing and other development that will tie in with existing or planned public transport. The London Riverside Opportunity Area extends from the Royal Docks to Rainham Marshes, a distance of 12 kilometres. Much of the land is already owned by the Mayor.
The Framework outlines Mr Johnson’s strategic aims and objectives by 2035 and explains how the area will develop in terms of success and sustainability within the larger city, and also its future relationship to the south-east. Better transport connections are a key area for improvement, involving a number of substantial road and railway projects and including new river crossings.
Sir Edward Lister, Deputy Mayor for Planning, said, “London Riverside can deliver genuinely affordable high quality housing for Londoners in a fantastic Thamesside setting.” The Framework favours accelerating the development of publicly-owned land assets to supply new jobs and accommodation.
To read more, go to London Riverside Opportunities
Halifax says buoyancy over house prices was deflated by slow lending in January
The Halifax Housing Market confidence Tracker has established that prices increased by 2% to £193,130, but 60% of consumers thought that average house price would be higher a year from now, the lowest figure since June 2013 (52%). This was at a time when inflation was at 2.9%, compared to the current 0.3%, employment was slightly over 30 million compared to 30.9 million, and lending levels were at £15 billion compared to today’s £17 billion.
Although 2014’s GDP grew at 2.6%, and all MPC members voted to retain a 0.5% interest rate, this decline in confidence over house prices reflects attitudes towards the wider economy.
Halifax’s Mortgages Director, Craig McKinlay, commented, “Optimism has continued to weaken. Despite this, the fundamentals remain in place and we’re now seeing a return to the seasonal trend for house price activity.” He added that customarily a slow start to the year builds up towards the summer, followed by another quiet period; this in turn is generally followed by increasing prices, which then slow down as the year end approaches. In view of the UK’s need for new housing, the DCLG’s data indicating a slowdown in numbers being built is of some concern, and to address demand the increase in new build has to be sustainable.
For more information see Ipsos Mori
Read - Sellling a home checklist
Bodged home makeovers cost neighbours a huge £1.5 billion plus
Direct Line’s SELECT Premier Insurance has uncovered the cost to neighbours of home renovations since 2010 – more than £1.5 billion! Average cost of repairs worked out at £533 and research suggests that something like 3.7 million homeowners have had their property damaged due to neighbours’ renovations. However, only 33% of the guilty neighbours admitted responsibility, and a further 30% blamed someone else!
The data further suggests that one in six people (17%) did not actually challenge their neighbours about the damage.
The good news is that more than half of the offending neighbours (53%) shared at least half the expense of repair work, but as many as a fifth (19%) paid nothing. Damage to fencing is by far the most common complaint, followed by windows and garden features and ornaments. Gates, roofs, plumbing and even house contents feature at above 20% of complaints.
Nick Brabham, head of SELECT Premier Insurance, says: “If you or your neighbours are thinking about starting a home makeover project it is worth assessing and discussing the risk of damage to adjacent properties with neighbours. It is also crucial to check whether your home insurance policy covers damage caused by neighbour renovations.” Home makeovers meant 26% of UK adults suffered noise disturbances and 14% reduced parking, a real issue in London.
For more information go to www.directline.com/select
Read - Carrying out a property project checklist
