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31.10.25 - 09:00
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UK housing market ′resilient′ in October; Asian stocks mixed after bumper tech earnings – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Some good news for homeowners this morning as UK house price growth unexpectedly grew in October.Against a backdrop of subdued consumer confidence and signs of weakening in the labour market, this performance indicates resilience, especially since mortgage rates are more than double the level they were before Covid struck and house prices are close to all-time highs.Looking forward, housing affordability is likely to improve modestly if income growth continues to outpace house price growth as we expect. Borrowing costs are also likely to moderate a little further if bank rate is lowered again in the coming quarters.”Among the myriad of proposals reportedly under consideration is a 'mansion tax' on homes valued over £2 million. Council tax reform, capital gains tax applied to the sale of high-value residences and replacing stamp duty with ...
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28.10.25 - 16:24
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What will Labour sacrifice for its housing targets? A standoff in south London is putting it to the test | Anna Minton (The Guardian)
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In Peckham, developers unwilling to meet affordable housing quotas are facing down residents and the councilTeekall and his wife are raising a family in Peckham, south London. He runs a successful business as a commercial designer with a studio just down the road, and she works in higher education. Their two boys attend the local primary school. However, the family has outgrown their one-and-a-half-bedroom flat. Although they would like to stay in Peckham, they can't afford to.Just around the corner from where they live, the developer Berkeley Homes is proposing to build 877 new units, on the site of the Aylesham Centre shopping complex in the heart of Peckham, claiming it is responding to the government's commitment to build 1.5m new homes to tackle the acute housing crisis. Given the predicament Teekall finds himself in, he might be expected to welcome plans for hundreds of new homes, but the opposite is the case. “Our budget can't reach the price of the homes in a Berkeley development. Me and my w...
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24.10.25 - 07:48
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Ministers confirm plans to reduce London′s affordable housing quotas (The Guardian)
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Developers will qualify for fast-track planning status if they include 20% affordable housing instead of current 35% targetMinisters have confirmed plans to reduce affordable housing quotas in London as they try to reverse the recent collapse in housebuilding in the capital.Steve Reed, the housing secretary, said on Thursday that developers would be allowed to qualify for fast-track planning status if their projects included 20% affordable housing, down from the current target of 35%. Of those 20% however, 60% will have to be available at the cheapest social rents. Continue reading......
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20.10.25 - 08:00
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Will affordable housing be the casualty as London tackles its building emergency? (The Guardian)
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Collapse in construction activity causing alarm but mayor and Whitehall face pushback over 'extreme solutions'Sadiq Khan has known for a while that he has a problem with housebuilding in London. But last week a consultancy published figures about the scale of the problem, which prompted full-scale alarm in City Hall and Whitehall.The analysis from Molior showed that new housebuilding in the capital had collapsed. Only 40,000 homes are under construction – two-thirds the normal rate – and in the first three months of the year builders started work on just 3,248 private sector units. Continue reading......
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20.10.25 - 08:00
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Don′t cut London′s affordable housing quotas, Labour MPs urge ministers and mayor (The Guardian)
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Exclusive: Housing secretary and capital's mayor face calls from within party for rethink on homebuilding plansLabour MPs are urging ministers and the London mayor to drop controversial plans to reduce affordable housing quotas in the capital in order to boost homebuilding.MPs have said they are concerned about the proposals being drawn up by the housing secretary, Steve Reed, and the mayor, Sadiq Khan, in response to a sudden drop in new development in the capital. Continue reading......
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