JLL Residential

News & Opinion

JLL creates Greater London residential development team

JLL is delighted to announce that David Jubb has joined the firm’s residential business as Director of the new Greater London Development team based in Central London. David brings 10 years residential development sales and marketing experience as well as an in depth knowledge of new build developments in Greater London, having worked almost exclusively in the London residential markets in Zones 2 – 6 for the majority of his career.

JLL responds to announcement from Government promoting house building on public land and the delivery of 13,000 new homes

Adam Challis, Head of residential research at JLL comments: "Today’s announcement from Government promoting house building on public land offers a raft of positive and pragmatic actions to boost the housing industry by speeding up construction.

The night before Christmas

Our City lettings team are celebrating a successful year having leased over 90,000 sq ft of residential floorspace since January. This figure includes a surge in corporate tenancies, ensuring stronger and more secure returns for our landlords. We were also bolstered by our established presence in schemes such as The Heron and Avant Garde, where approximately 110 properties are currently tenanted through JLL.

A record year

JLL’s residential offices at the Royal Exchange and Canary Wharf are celebrating a combined record year, having transacted on over £90 million pounds worth of residential property in 2015. This includes setting prices of up to £1,200 psf at developments such as Avant Garde and City Scape E1, and up to £1,000 psf at Landmark E14.

Out of the cold

Greenwich and Blackheath’s sales market has seen a somewhat turbulent 2015. Following the first bout of stamp duty reforms in September 2014, which had a mixed impact on the London market, we came into 2015 with a nascent general election campaign already fuelling uncertainty.

'Tis the season

‘Tis the season to be jolly, and in JLL’s Southeast lettings team we certainly can be after a great year in Greenwich, Blackheath and surrounding areas. The beauty of our patch is the diversity of the property that comes to the rental market, from Regency villas and schoolhouse conversions to fantastic river-side apartments offering views down the Thames.

Let it grow, let it grow, let it grow

Demand for new developments has also grown substantially this year. Tenants are also beginning to favour a wider range of postcodes than previously.

The spirit of Christmases past

2015 is set to be remembered as the year in which we experienced the most extreme political intervention within the Prime Central London property market. The first and most dramatic measure we experienced actually occurred in the final weeks of 2014, when George Osborne, in the face of Labour’s call for a Mansion Tax, overhauled Stamp Duty.

JLL dispose of Power Road Studios in Chiswick for £34m

On behalf of London and Strategic Estates, JLL Residential in conjunction with JLL London Unlimited have unconditionally sold Power Road Studios, a 2 acre development and investment opportunity in Chiswick, to Helical Bar Plc for £34.2m.

JLL responds to housing promises pledged in the Autumn Statement welcoming the support for new affordable homes

Adam Challis – Head of Residential Research at JLL comments: "The chancellor's support for 400,000 new affordable homes is welcomed at a time when there is a dire need to expand housing construction right across the country. This Government's narrow focus on home ownership is a serious concern however."

Autumn Harvest

It is fair to say that a reasonably normal seasonal spike is upon us following a typically quiet summer, and an unusually quiet first half of the year (due to the General Election). New business levels have been decent, based on a surge of property instructions.

New opportunities on the peninsula

The local market in Greenwich and Blackheath is ever strong heading in to the colder months which we are positive will remain until we head in to the December slow. October has been busy for our Southeast lettings team, the demand for one bedroom properties and two bedrooms is greater than ever.

Quiet optimism

Deutsche Bank and UBS have both produced reports this week providing compelling arguments that the London property market is a "bubble about to burst".

Strong foundations

On the morning of Tuesday 3rd November, JLL released our residential market predictions for the next five years. The short-term outlook for the rental market is positive. Across Greater London, we predict that next year prices will increase by 5% and over the next five years.

Dual markets

The City sales market has been particularly strong this October, more so than usual for this busy time of year. There has been a marked improvement in the quality of applicants, reflected in 60% more properties going ‘under offer’ this October than in the previous month.