“Today’s data shows that despite the uncertainty surrounding Britain’s Exit from the EU, investment in London property continues to be highly prized and rewarding. In the lead up to the Brexit, confidence continued to remain high, with UK house prices increasing by 1.1% in May across all properties.
London as a region once again achieved the highest annual growth nationwide, with prices increasing by 13.6% in the year to May 2016, and with the average house price now at £472,000. This data is on trend with the continuing growth we have seen across all of our North London branches over the first quarter, with the number of property sales rising to 47% in March, compared with the two months previous.
“What is apparent is that the demand for London property will continue to perform well in the long term, as buyers are spurred on by lower interest rates, and as favourable exchange rates attract new foreign investment post-Brexit.”
“When the now previous Mayor of London, Boris Johnson, accepted his position at City Hall in 2008, the recession was in full swing and house prices in the Capital averaged £350,000. Fast forward eight years and they have risen by 52% to average £534,000, with the increase in value largely attributable to a lack of supply".
“Newly elected mayor, Sadiq Khan, is taking office at a time when the Capital sorely needs real and achievable solutions to solve its housing crisis. His manifesto prioritizes housing with an aim to build 80,000 homes a year, but it’s an ambitious target given that over the past eight years, Boris Johnson only managed an average of 23,840 homes per year. NIMBYism isn’t as contentious an issue in the Capital as it is outside of it, but finding appropriate sites which are cheap enough to acquire, build and then make a profit on is one of the biggest barriers to house builders, especially in light of current section 106 requirements. Releasing brownfield sites and easing planning requirements is therefore key".
“At the heart of Sadiq’s manifesto is a focus on affordable housing and as part of this, he is looking to ensure that 50% of all new homes built are truly affordable. While this is a laudable aim, it will be difficult to achieve as it will directly affect the profits of housebuilders. As a result, we may find they simply adjust their business plans and opt instead to develop homes outside of the Capital, further impacting the London housebuilding crisis".
“While current Government measures such as Help-to-Buy and the taxes on landlords look specifically to address issues around affordability, what we really need are solutions that enable supply across all property sizes and all price levels – increasing the number of homes available and therefore diminishing competition is the only real solution that will have any long term impact on affordability".
“It is my hope that when we review Sadiq Khan’s effectiveness in 2020 we find that his fresh approach has indeed solved our housing crisis, but at present the jury is well and truly out.”
Halloween has been growing year on year all around London. On October 31st, Greene & Co. joined the celebrations, by hosting a Pumpkin Painting Workshop in the flagship Kentish Town office. Typical of Greene & Co. events, this event was created to bring communities closer together. Local children were invited to paint and decorate pumpkins and get their faces painted by a professional face painter. Halloween themed treats and life size pumpkins kept the Halloween buzz going.
Greene & Co. are passionate about supporting our local communities. We sponsor, participate and organise events from
walkathons to blockbuster film releases, raising loads of money in the process.
Stay updated on other community events by following us on Facebook and Twitter.
On Saturday October 24th, 2015 Greene & Co. teamed up with Kentish Town Community Centre for the bi-annual and locally – loved Kentish Town Brake –Off. This baking competition was organised to bring the local community together and to raise money for the community centre. Children and adults showed off their skills with themed decorations, taste and even lactose and gluten free bakes. All the cakes were delicious and it was very difficult for the judges from the Cakehouse and Camden Fair Trade Network to
make a decision.The Deputy Mayor of Camden Cllr, Lorraine Revah
made a special appearance to hand out the gifts to all the winners.
We are pleased to announce the Bake-Off winners:
1. Best bake: Sarah Howard
2. Best decorated: Henry Bedoya
3. Best alternative: Aleksandra Ayvazova
4. Best junior baker: Charlotte Shaw
5. Cake with the most fair trade ingredients: Aleksandra Ayvazova
...and the Best in Show: Henry Bedoya with his Pineapple Pumpkin Cake.
Check out Henry’s scrumptious Pineapple Cake recipe on our Bake Off Competition site.