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First-Time Buyers Losing out to Foreign Investors WN Reporter

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First-Time Buyers Losing out to Foreign Investors WN Reporter WestcombeNEWS Free to 3800 homes, & in libraries & some shops July/August 2017 No. 6 A community newspaper commended by the London Forum of Amenity & Civic Societies First-time buyers Busted iphone screen? No problem, in Greenwich obile phone technology has losing out to foreign Mmade the much-loved iconic red telephone boxes obsolete. Lovefone, among a few other businesses, are bringing these listed structures back into public service. investors WN reporter The founder of Lovephone, Alex, said: “Many telephone boxes across report commissioned by the Mayor of About half the properties purchased in London have been neglected over the ALondon four months ago reveals that London were priced for first-time buyers – years. So we thought we could breathe an eighth of all new homes intended for between £200,000 and £500,000. some new life into them by utilising first-time buyers in London are being According to figures released by these landmarks which have become bought by foreign investors – and it’s not Lloyd’s Bank, the average cost of a home obsolete with the advent of mobile just happening in the capital. in London bought by a first-time buyer is technology. The research indicates that foreign £405,000 – almost double the national “People seem to like the idea – we’ve investors are buying up, not just luxury average. had some great support from the locals homes, but thousands of homes in London The effect is observable at local level: and media” suitable for first time buyers. They then use in Greenwich, Tower Hamlets and Last August , Lovefone created a them as buy-to-let investments, and in some Wandsworth, one in eight of all new homes new shop in Greenwich where you can cases hold them in off-shore tax havens. have been bought up by foreign buyers. get your iPhone or Nexus smartphone In a report published in the Guardian on There are calls for the Mayor, and local repaired in an iconic British red tele - 14th June, between 2014 and 2016, 3,600 councils, to intervene, blocking foreign phone box called a ‘Lovefonebox’. of London’s 28,000 newly-built homes were buyers until Londoners have been given the Lovefone’s first phone box is at snapped up; many of the buyers came from opportunity to buy. 291 Greenwich High Road SE10 8NA, next to The Mitre pub (great excuse to their phone box repair shops. The aim is Singapore and Hong Kong. The HomeOwners Alliance, representing to have 35 locations in London over the The most popular destination for Chinese current and would-be home-owners, say have a drink whilst you wait!) The phone box is open for business from 10.00am - next 18 months with other Franchise investment is in Greenwich, where Knight this trend is alarming, and unfair to first- opportunities available outside London. Dragon is building 16,000 new homes. time buyers. 5.00pm Monday to Friday. Apart from their standard electronics A second phone box repair shop has repair services, Lovefone are also offering just opened at 120-22 Brompton Road in Our toxic air Andrew Riley free mobile phone charging and wifi at Knightsbridge. oxic air pollution is blighting House; and 31mcg on St John’s Tparts of areas in Blackheath, Park near Elsie Marshall Hall. Westcombe Park and East The research was carried out Greenwich. According to a new between March and April by a survey, levels of nitrogen dioxide group of local residents, who have been recorded at more than fixed “diffusion” tubes to lamp- twice the EU legal limit of 40 posts and signposts to measure micrograms per cubic metre of air levels of nitrogen dioxide at 17 (µg/m3) at one site, sites across the neighbourhood. The results showed an average The tubes were taken down reading of 91mcg on Shooters Hill after a month and analysed by the Road by the junction with Environmental Scientific Group. Stratheden Road; 58mcg at the The research project was end of Langton Way by the Sun in organised by the No to Silvertown the Sands roundabout; 50mcg on Tunnel campaign in association the bridge over the A102M on Old with the Network for Clean Air, Tube No. Reading Location Dover Road; 49mcg where Some readings showed levels of and was funded by donations RIGHT : Some sample 13 91 Shooters Hill junction with Stratheden Rd. Westcombe Hill meets Blackheath nitrogen dioxide within the legal given at the funeral of Terry readings. 15 50 Old Dover Rd west of bridge over A102 Royal Standard; and 46mcg at the limit. These included: 27mcg on Grant, who ran the film club .Legal 16 58 Langton Way near Sun in Sands Roundabout Standard’s junction with Vanbrugh Halstow Road; 29mcg on at Mycenae House and helped limit 40 mcg 17 46 Royal Standard at Vanbrugh Park junction Park. Mycenae Road by Mycenae with a similar earlier survey. 20 49 Westcombe Hill / Westcombe Park Road. < < Newsbriefs > > East Greenwich Westcombe Society Sat 22nd July 7.30 pm Station closures All the 93 high rise blocks Do not disturb ap Charing Cross, Waterloo East are Fire Risk Assessed every Apple has announced that its gas holder to go? Members’ Evening in Mycenae and London Bridge stations year and all have current Fire iOS 11 software update is to House. Bring-a-dish - and will be closed from Sat. 26th Risk Assessments except two include a new "Do Not Disturb he Council wants to know the views of meet old friends! August to Sat. 2nd September blocks in John Wilson Street While Driving" mode for residents on their new “framework to Invitations are going out soon - inclusive. Cannon St will be which have interim risk iPhones. The new feature will T closed on Sat. and Sunday assessments, as they are detect when someone is driv - guide future development of site GP3 on RSVP by 14th July. 26th and 27th August with a currently being refurbished. ing and automaticaly turn off. the Greenwich Peninsula,” reports Mary Ring Caroline on 0208 858 0948 reduced service to Cannon Mills. Site GP3 is on the Greenwich *** Street through Greenwich and Road closure Jo Cox In Memoriam Peninsula (roughly south-west of the O2). Blackheath for the rest of the From Sun 25th June until Sun A number of local residents With the potential decommissioning of The annual Macmillan Walk on week. Blackheath will still 3rd September, Kidbrooke took part in a Jo Cox party in the existing gas holder, the site could have Sun. 17th Sept. starts at Park Road will be closed to all have Victoria services. There June organised by one of our alternative and more intensive uses. This Westcombe Park Station (Station traffic between Weigall Road deliverers, Ann Brown, of Old are also major closures so Planning Brief sets out an overarching Crescent) at 9am. See page 2. check before you travel. and Old Post Office Lane for Dover Road. Siebert Road also road works. held a vibrant street party in framework to guide future developments Please ring Joanne on 07709 571777 . Tower block safety June, with a medley of bands. of the site. Details can be found on *** GDIF Finale https://consultations.royalgreenwich.gov. After the tragic fire at Grenfell Don’t miss the finale to the Christmas Bazaar uk/KMS/dmart.aspx?strTab=PublicDMart The Annual Coffee Morning House in Kensington, the Greenwich + Docklands The Westcombe Society’s in aid of Macmillan is on Fri. 29th Royal Borough of Greenwich International Festival on &PageType=item&DMartId=895 and one Christmas Bazaar is back at is reassuring tenants and Saturday 8th July., when huge can respond via an on-line survey. Sept. its old venue, Blackheath High residents that fire safety colour-wheels will roll through Regrettably – as so often seems to School for Girls, Mycenae 10.00am - 2.00pm remains an utmost priority. the streets of Woolwich. Free! happen – this consultation takes place over Road, by kind permission of Volunteers are needed to make cakes Within Royal Greenwich It starts at 9.00pm at the the head teacher. It’s on Sat. the summer months when many are away. and sandwiches, and to help on the day. there are 93 high rise blocks, Assembly Statues (near 25th Nov. Anyone wishing to Comments can be emailed to: six of which are 24 storeys Congusto) No. 1 Street Royal Please ring Caroline on 88530948 book a stall should contact planning. [email protected]. high. The six 24 storey blocks Arsenal Riverside SE18 6ST. have external cladding. Marilyn Little on 8853 1312. For further enquiries ring 020 8921 6235. COMMUNITY Photos: WEST CO MBE N EW S General Election 2017 Mark Johnson-Brown Charity Walk All editoriAl correspondence to : oanne writes: the annual charity JMacmillan Walk is on Sunday 17th neville Grant , The Editor September. We meet at Westcombe Park [email protected] Station (Station Crescent) at 9am, and this Tel. 020 8858 8489 year we follow the Green Chain Walk to Oxleas Woods taking in Maryon Wilson All MAteriAl to Be sent to : Park, Charlton Park, Woolwich Common, [email protected] Shooters Hill golf course and Sevendroog deadline for the september Castle. Total distance, including the route issue: 16th August home along Shooters Hill Road and Old environment editor: Maggie Dover Road, is about 10 miles. Some may Gravelle wish to take the 89 bus home. What’s on: A bottle of water will be supplied at the reporters: The community – that start but please bring anything else you means you! may want to eat or drink on the walk. There will be shops open along the route environMent coMMittee and there is a cafe at the end - their bacon emily norton All queries and sandwiches come well recommended! comments to: 020 8853 2756 MATT PENNYCOOK To take part there is a £10 entry fee, 100% [email protected] of which goes to Macmillan Cancer Care.
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