Rents on high-end homes have gone down in the aftermath of the Brexit vote and the stamp duty tax hike August 22, 2016 Lettings in the high-end of London's property market have been "subdued" in the second quarter of the year due to both a fall in demand and an increase in supply. JLL said "immaculate properties presented in first class condition" are not losing value, but on average rental values fell by 1.9 per cent during the second quarter. In the 12 months to [...]
Crowdfunding site Property Moose has just lowered its minimum investment to £10 January 29, 2016 Crowdfunding site Property Moose has lowered its minimum individual investment to just £10. The site, which offers investors a chance to contribute to a fundraising pool to buy a residential property, is hoping to reach out to new types of investors, including students kick-starting their saving or parents looking to start building a nest egg for their children. A £10 investment obviously [...]
Earls Court developer Capital & Counties sees share price fall over fears of cooling property market February 24, 2016 Capital & Counties (Capco), the Covent Garden landlord developer behind the £8bn regeneration of Earls Court, posted a 14 per cent jump in the value of its vast London estate last year. However shares in the company nevertheless slumped by eight per cent over fears that cooling demand and an oversupply of prime residential properties in the [...]
Autumn Budget 2017: Chancellor Philip Hammond’s speech in full November 22, 2017 You can read the chancellor's Budget speech in full here: Mr Deputy Speaker I report today on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down. An economy set on a path to a new relationship with our European [...]
Buy-to-let tax hike: Our guide to the government’s plans to raise stamp duty on second homes – with rules to cover joint owners, landlords, investors and overseas property owners January 6, 2016 Details of the government’s plan to raise stamp duty on purchases by homeowners with more than one property were released over the festive period. Simply, it will be a 3 per cent surcharge on each stamp duty land tax band when an additional residential property is bought by someone who already owns a home. With the [...]
London swells the taxman’s coffers by paying almost half the country’s levy on home purchases September 30, 2016 The government collected £3.4bn of stamp duty from the London's homebuyers according to statistics released today. The number represented 46 per cent of the total amount of stamp duty paid in the UK over the last year. And together with the rest of the south-east, together the two areas accounted for more than two-thirds of the [...]
Prices for central London’s luxury homes are falling – but outer areas are becoming less affordable September 21, 2016 London's luxury homes are set to have their prices cut by nearly 10 per cent this year, but prices in the capital's outer boroughs will continue to become less affordable, according to new research. Property services giant Savills has predicted prices on high-end homes in central London will drop by nine per cent this year and won't return to growth [...]
City Moves for 12 December 2016 | Who’s switching jobs December 12, 2016 Aldermore Aldermore has appointed Roger Evans as its new head of intermediary distribution. Roger will be responsible for relationships with all residential intermediaries and will represent Aldermore across the wider lending market. He will be responsible for developing and leading both the field and telephone intermediary sales forces. Roger joins Aldermore having led a successful career with [...]
George Osborne’s tinkering has made the UK tax system more complicated than ever March 18, 2016 After eight Budgets and six Autumn Statements, we have a pretty good idea of what kind of chancellor George Osborne is. According to the Office for Budget Responsibility’s policy measures database, before Wednesday he had made 585 separate tax policy changes at these so-called “fiscal events”. There had been 165 income tax changes, 107 corporation [...]
UK house prices: Housing indices like the ONS and Rightmove just aren’t in line with reality February 23, 2016 For those of us involved with the prime central London (PCL) residential property market, last week delivered some ‘good’ news; where the latest ONS housing data showed an annual increase of 9.4 per cent. That lead Rightmove to announce that the capital has seen the biggest rise in asking prices, year-on-year, than any other region in the UK, increasing by [...]