#london-housing

#london-housing

Rumours of a 'Mansion Tax' on homes worth more than £1.5 million are already creating ripples across the UK property market. Even before any formal announcement, experts say the prospect of new taxation is influencing how buyers and sellers approach high‑value properties, particularly in London and the South East. For homeowners near the proposed threshold, understanding the potential consequences is essential, as early signals suggest that house prices in these high-value areas could face downward pressure.

A "localised housing crisis" has become a "national problem", according to Liam Sides, associate director in Oxford Economics' Cities & Regions team.

The amount of bike storage that needs to be provided in new housing developments in London is to be watered down, it can be revealed. This will reduce the number of secure bike spaces that have to be provided and could also permit developers to make a financial contribution in lieu of building bike racks or allow them to be built some distance from the new homes. City Hall believes this is acceptable because of the rise in the number of Londoners hiring dockless e-bikes, such as those provided by Lime and Forest.

Nationwide took a look at house prices across London, and then mapped them based on which tube or train line they were closest to in order to discover which commuters are paying the highest transport-related premium on their properties. In the end, the report discovered that houses on the Circle line were more expensive than any other. Houses whose nearest station is on the yellow line cost an average of £729,000.

People buying homes in London 500 metres from a tube or railway station pay 42,700 more than buyers of similar properties 1,500 metres away from transport hubs, according to new data. The figures indicate that despite the reshaping of the housing market sparked by the coronavirus pandemic and dramatic changes to working patterns, the traditional estate agent mantra of good transport links continues to wield its power over buyers.

A rogue landlord has been fined nearly 20,000 for renting out a north London home to five people without the correct license.