Feeling the squeeze

Article Abstract:

The increasing demand for office buildings has led to a shortage of housing in Midtown, London, England. Residential and office developers are competing for the same buildings. Prices of properties in the area are likely to grow as supply lessens although prices have been stable in 1998. Some development have gone ahead after tenants have agreed not to apply for parking permits. A few developers are building penthouse flats on existing developments. Some local authorities are not authorizing the conversion of office space to housing as it represents a loss of employment opportunities.

Housing development

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Home truths

Article Abstract:

A large residential development in the Docklands, London, England, has been discontinued due to a withdrawal of funding. The residential market has suffered from fewer sales to Far Eastern clients. Local property agents report demand in 1998 has been slow and they predict it is likely to fall even further. Demand has been affected by local councils being less likely to allow development on land which could be used for business. Changes in planning regulations making it necessary to have more less expensive houses and workers concern over losing their jobs in the City.

Real estate development, Waterfront development

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Homing in on hints of recovery

Article Abstract:

There was a strong rise in demand in the UK housing market in the first two months of 1996, but it is still too early to tell whether this will eventually lead to a full recovery in prices, rather than just to a rise in the volume of transactions. House prices have fallen dramatically at other points in recent decades, but during those periods there were not the very negative views about housing which have prevailed in recent years. Economic developments may serve to boost the housing market, but the market will not really recover until unemployment falls.

Column

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