Should The UK Restrict Overseas Investors Buying Up UK Homes?

If I may can I take  you on a small tangential journey.  London, forty years ago, was a souvenir city, rich in history and culture (similar to Paris today) and very little else.  The centre of the commercial universe was New York.

After Margaret Thatcher freed-up exchange controls and liberated and de-regulated  the byzantine dynamics of the city of London, the Capital over the last 30/40 years became metamorphosed into the financial colossus that it is today.  More IPOs take place in London than anywhere else in the world and if you don’t have a presence here, you are not in the game.

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Should You Apply Punitive Taxes To Empty Homes?

There is a raging debate at the moment about the social ramifications of empty homes and commentator Boris Johnson, as well as others, is talking about applying punitive council taxes on the owners for keeping a property empty for a prolonged period.

My view is quite clear since there is a very delicate line between having sympathy for the homeless yet allowing home owners to do as they please with their own property in a free, liberal country such as the UK.

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Why is the market above £2million in London so difficult at the moment?

Contrary to press reports the market in London below £2million is doing very nicely thank you.  Anything sensibly priced will sell relatively quickly to a number of buyers. Frankly, with the stable outlook for interest/mortgage rates there is not a cloud in the sky, particularly, as this part of the market is immune from any potential Mansion Tax threat.

Above £2million the market gets progressively sticky to the extent that above £10million there are very few buyers at all. Agents and conveyancing solicitors are all complaining that turn over is vastly reduced. Continue reading