London property news

Here are some recent London property news updates:

Market Trends

• London's property market has seen a slight slowdown in recent months, with prices falling by 0.4% in the year to January 2023, according to data from property website Rightmove. (Source: Rightmove)
• The average price of a home in London is now £646,000, down from £649,000 in December 2022. (Source: Rightmove)
• The number of properties coming onto the market in London has increased by 12% in the past year, according to data from property website Zoopla. (Source: Zoopla)

New Developments

• A new skyscraper is set to be built in London's Canary Wharf, with plans for a 50-storey tower that will be one of the tallest buildings in the city. (Source: The Times)
• A new development in London's King's Cross area has been given the green light, with plans for a 14-storey building that will feature a rooftop garden and a public square. (Source: The Architects' Journal)
• A new luxury development in London's Mayfair area has been launched, with prices starting at £2.5 million for a one-bedroom apartment. (Source: The Evening Standard)

Government Policies

• The UK government has announced plans to introduce a new tax on foreign buyers of London property, in an effort to reduce the impact of overseas investment on the city's housing market. (Source: The Financial Times)
• The government has also announced plans to increase the stamp duty land tax (SDLT) on properties worth over £1 million, in an effort to reduce the number of high-end properties being bought by foreign investors. (Source: The Telegraph)

Regulatory Changes

• The UK's Financial Conduct Authority (FCA) has announced plans to introduce new rules for mortgage lenders, aimed at preventing them from giving out too many high-risk mortgages. (Source: The Guardian)
• The FCA has also announced plans to introduce new rules for property developers, aimed at preventing them from mis-selling properties to investors. (Source: The Times)

Other News

• A new report has found that London's property market is at risk of a "bubble" due to high prices and low interest rates. (Source: The Economist)
• A new survey has found that 70% of Londoners believe that the city's property market is unaffordable, with 40% saying that they are unable to afford a home in the city. (Source: The Evening Standard)
• A new report has found that London's property market is dominated by foreign investors, with 40% of all property purchases in the city being made by overseas buyers. (Source: The Financial Times)