PROPERTY NEWS
£50M TO FUND AFFORDABLE HOUSING
The Mayor of London and London Homes and Communities Agency (HCA) have approved the funding for 16 schemes aimed at providing 518 affordable homes. The schemes’ future was uncertain after the election but have now received a guarantee of a £50m cash injection. Nine new-build projects that will receive some of the money will provide 146 new rental properties for 665 people with most of the homes being family-sized because of the high demand for such properties.
FARMHOUSES WILL KEEP THEIR VALUE
Farmhouses in prime rural locations are expected to remain resilient to any falls in the wider property market, according to the latest survey from Carter Jonas. “Scarcity of supply combined with the availability of funds for affluent city/entrepreneur buyers are the principal drivers behind our forecast,” said Catherine Penman, head of research at Carter Jonas. Farmhouses in Winchester experienced the sharpest rise of 18.4 per cent. The South-East still has the highest prices.
LONDON BUILDINGS SHORTLISTED FOR AWARDS
Bright and modern, the regeneration of Barking town centre, which includes 500 apartments (pictured) , has been shortlisted for the World Architecture Festival awards. The seven new buildings, designed by Allford Hall Monaghan Morris, have been selected. The architects will find out in November at the festival in Barcelona whether they have won or not. The planned Earls Court Masterplan, designed by Farrells, is also shortlisted for an award.
PRIME CENTRAL LONDON HOUSE PRICES DROP
Prices for prime central London property finally dipped in July by 0.5 per cent, according to Knight Frank. This is the first monthly decline since March 2009 and falls have affected all parts of the capital with the exception of Mayfair. Liam Bailey, Knight Frank’s head of residential research, said that the lowdown in the London market had been anticipated for several months. He added that the healthiest parts of the market were the entry-level end and the very top-end.