How could Telford Homes have got the vibe so badly wrong in its marketing video for the Vibe development in Dalston? Quick summary… fey trust fund princess in a flowery dress marvels at a whitewashed playground version of the capital, packed with scrumptious cakes, expensive furniture shops and fascinating hipsters. But it’s the “whitewashed” element that’s drawings the most attention. But I spotted a non-white person, at 4.08! I think?
Thirty-six viewings, nine offers and sold… a studio in Clapton, less than seven square metres of space, and coming in under the stamp duty threshold. The catch? It’s so small lenders can’t offer a mortgage. So whoever bought it, did so in cash. More here.
CBRE has done a bit of number crunching to highlight the rise of “City fringe” property prices. Since 2008, prices are up 62% across Shoreditch, Clerkenwell and Wapping, compared to 36% across the London market as a whole. Main driver? London’s tech sector… with businesses driving the gentrification with the need for shops and restaurants. The data also confirms lower average ages living in the fringe. More here.
According to Rightmove data, new high-end properties in Canary Wharf and Wapping are helping give one of the capital’s poorest boroughs a record average annual price hike… including £50,000 added to the average price rise in just one month. More here.
It would be funny if it wasn’t so tragic. A Bethnal Green rental in which the bedroom was a tiny shed in the living room, just enough room for a mattress on the floor. Worse, still, the living room was communal, shared by other flat mates. Cost? £530 a month. More, including pics, here.
In a very interesting piece, the Guardian explains the historical background to a demonstration in Norton Folgate - linking Bishopsgate to Shoreditch High Street - in which 500 people turned up on Sunday to join hands in symbolic protest of plans to demolish and rebuild. In the 18th Century, the area received a legal “freedom” from the City, a kind of independence. In the 1970s, it survived a clash with British Land, thanks to a campaign that featured contributions from Dan Cruikshank and John Betjeman. Now, whether it survives in the face of pressure to build more high-rise “perfume bottles”, is being seen as a symbol of a battle for the very identity of the capital. Read it here.
On the one hand, there’s Russell, standing up for a group of Hoxton tenants with a genuine grievance, helping them organise and giving them a voice and media attention they wouldn’t otherwise have. On the other… there’s Russell, in all likelihood one of the gazillionaires companies such as Westbrook Partners are busy gentrifying estates such as New Era in order to house. Legitimate question? Or snide? Either way, I wish Brand would learn to keep his hands to himself during a debate… there’s something (perhaps unintentionally) bullying about holding onto the person you’re arguing with.
Plus one sleb. Russell Brand - pictured here - joined around 60 tenants to march on Westbrook Partners’ Mayfair HQ, and demonstrate against planned rent rises and rumoured evictions in the run-up to a “gentrification” of the Hackney estate. According to eye witnesses, the protestors were cheered by onlookers, before marching on to Downing Street. If you’re interested in reading more/signing the petition, go here.