Help! Panic! Head for the lifeboats! Prices in prime central London property prices are falling. In January “Values in Westminster slid 8.3pc, while those in Kensington dropped 6.9pc”. this was the message I received today in an email linking to a report on the housing market. As it happens, these figures are based on asking […]
Insane London Property Sellers
We completed on the purchase of a house last Thursday. I always insist on inspecting the property on the morning of completion- much to the surprise of many agents and indeed my clients, However, it is an essential if rather tiresome part of the process. Why? Because some sellers are, quite frankly, mad. Fortunately, in […]
Prime London Property Report – January 2014
Implosion or Explosion? Will property prices in PCL continue to rise or are we on the edge of a cliff (or a gentle decline at the very least)? Firstly, Happy New Year. I hope you are full of vim and raring to grasp 2014 by the horns. I for one have started the year considerably […]
Capital Gains Tax on Foreign Second Homes
In today’s autumn statement by the chancellor, it was announced that foreigners who buy second homes would now be liable to pay Capital Gains Tax on profits from April 2015. This basically brings the tax rules in line with what UK residents have to pay. This is typically a 28% tax on any rise in […]
Mansion Tax For High End Properties A Possible Reality
As you are probably aware some Lib Dem and Labour politicians have called for a Mansion Tax to be levied on expensive UK properties. No-one has offered any details on how such a tax would be implemented or indeed at what price level. However, the general consensus is that it would be levied on properties […]
Will This Cause The London Property Market To Crash?
We warned recently that we can expect a lot of “talk” from politicians over the coming months as each party tries to cosy up to voters before the election. As said, it was likely that property in London is likely to become a topic for debate and the target of some “easy wins” for the […]
The Absurdity of London Property Statistics
You may have noticed the explosion in news coverage on London property prices when Rightmove announced that average “prices were up £50,000” in the month from mid-September”. Yes, it is frightening. Not the price rise – which is complete rubbish – but the fact that there can be an explosion in the coverage of house […]
Capping London House Prices
Last month the Royal Institution of Chartered Surveyors suggested the government or bank of England should cap house price inflation at 5 percent a year. Unsurprisingly this was met with universal scorn from the housing industry, estate agents et al and indeed Martin Taylor, an external member of the FPC, said in a speech last […]
Prime London Property Report Q2
Quantitative Easing For Property – Inspirational Policy or An Act of Insanity? Facts & Figures International buyers now account for 39% of the prime London residential market. Most of them (85%) live and work here (Savills) The prime residential sector is up 58% since 2008. Savills estimate that approximately £37 billion has flowed into London […]
Cash Is King When it Comes To Buying Prime London Property
As you have probably gathered by now Property Finders London are fairly conservative in our attitude to risk and wary of schemes such as Help-To-Buy that lure those who can least afford it into taking on large loans. Yes, mortgage rates are at historic lows so they seem affordable now, but what would happen if […]