JLL Residential

News & Opinion

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.

High demand during daylight savings

The lettings market had a strong October in Canary Wharf and The City, with applicant levels high and stock levels stable. With the turning of the clocks and darker evenings, we are seeing a decrease in applicant registrations, which isn’t unusual for the season.

JLL residential builds investment team in London

JLL is delighted to announce that Simon Scott will join as Regional Director to head up the Residential Investment team. Simon is well known in the sector having previously led the Residential Investment team at Savills before moving client side, latterly as Chief Development Officer at the serviced apartment investment platform backed by Oaktree Capital.

Leeds city centre apartments in big demand

Sales at a new residential development in Leeds city centre are reported to be forging ahead. Twenty apartments at Tate House on Trafalgar Street, off North Street, have already been sold off plan to both owner occupiers and investors, with plenty more potential sales in the pipeline, according to the exclusive selling agent JLL.

Steady UK house price growth of 5% predicted in 2016

We are expecting a period of sustained growth and stability in the UK housing market in 2016 as activity levels respond to supporting factors such as real wage growth and record low mortgage rates. Sound fundamentals are driving a confidence in the market not seen since 2007.

Uncertainty is the new normal

JLL Residential last week held an industry debate with Lord Kerslake examining the current state of the Affordable Housing sector. The debate focused on the current policies that are creating a seismic shift in today’s market and the obstacles that Registered Providers now have to face.

JLL reacts to the Starter Homes announcement in this week's Housing Bill

Richard Petty, Lead Director - Residential Advisory at JLL comments: "We recognise the need for more new homes in large numbers in the UK, together with the aspirations of many people to own their own home. We believe that Starter Homes will make a contribution towards meeting this demand, and that they have a part to play going forward."

JLL responds to the permanent extension of Permitted Development Rights

JLL Residential Research Associate Director Nick Whitten says: "The principle of using permitted development rights (PDR’s) for the change of use from office to residential is, where appropriate, fundamentally beneficial."

Office-to-Residential PDR extension opens door to 60,000 new homes

JLL Residential Research reveals that an estimated 8,000 prior approvals were secured in the first two years after office-to-residential permitted development rights were introduced in May 2013. If all of these were implemented it would create 60,000 homes.