Morning Briefing: London's house price slump spreads

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Morning Briefing: London's house price slump spreads

NEWS27/03/189:25 AMBY CARL BROWN
The house price slump in London is reportedly spreading and Birmingham City Council pledges to install sprinklers in 7,000 flats
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Picture: Getty
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Morning Briefing: London’s house price slump spreads to the suburbs #ukhousing
In the news
The London property market slump appears to be getting worse, with prices falling in nearly half of the postcodes in the English capital, The Guardianreports this morning.
The newspaper reports that the figures, from data provider Hometrack, “will stoke concerns that sliding prices are far from confined to the most expensive homes in central London, with… a ripple effect spreading into suburbs.”
Although falling prices will help those trying to get onto the ladder, they may also cause concern for some associations with extensive development and regeneration plans funded by cross-subsidy. Our piece last month ‘End of the road for regeneration in London?’ looked at the economic turbulence in the market in London and whether this is one of the factors making estate regeneration more tricky.
Hometrack did, however, find strong price growth in other British cities, including Liverpool, Edinburgh and Manchester.
The Evening Standard has a report on leaseholders in Kensington and Chelseafacing huge increases in their insurance premiums following the Grenfell fire.Inside Housing covered the story last week, reporting that premiums will increase 89%.

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31% increase in market sale by housing associations31% increase in market sale by housing associations
End of the road for regeneration in London?End of the road for regeneration in London?
Birmingham City Council has pledged to install sprinklers in 7,000 flats by 2020, the Birmingham Mail newspaper reports here. The newspaper reports the council will borrow £31m to fund the work if the government doesn’t provide the money.
The Birmingham Mail is also reporting that the local Conservatives, currently in opposition, would demolish every council high rise if elected in May.
The Local Government Association (LGA) has published a briefing ahead of a House of Commons debate later this morning on council housebuilding. The briefing neatly summarises the LGA’s lobbying position, setting out its case for measures including lifting Housing Revenue Account borrowing caps and allowing councils to keep 100% of Right to Buy receipts for investment in new homes.

Shelter Cymru has called for more affordable housing investment in Wales, following figures showing more than 60,000 people are now on the waiting list.The BBC report on this is here.
House builders are struggling to meet demand for social and affordable housing, but councils are to blame “for not commissioning enough”. This is the conclusion of a survey of 431 house builders by construction agency McBains, published in The Planner magazine. You will need to register with the website to read the full article.
Leeds United Football Club has pledged to tackle homelessness, The Yorkshire Post newspaper has reported.
Political commentator Frances Ryan has written a piece for The Guardianwarning that disabled people risk once again being “warehoused” in “out-of-town institutions”.
Nacro (formerly the National Association for the Care and Resettlement of Offenders) has won a £25m contract to provide housing and support for people in, or at risk of entering, the criminal justice system, website Civil Societyreports.
On social media
CIH Futures suggests that providers “nudge” tenants to use services...
...prompting an immediate, robust response from one tenant:
What’s on
  • A debate on council housebuilding will take place in the House of Commons after 11.30am

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