Category Archives: property

Read about the Marching Morons of the Residential Property Market

London Property Market: more activity in the last 8 weeks than the previous 2 years

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Halleluiah, there has been more activity in the last eight weeks in the London Property Market, than in the past two years.

After all the negative effects of the Stamp Duty hikes, Non Dom changes etc., the middle to upper sectors of the London property markets have been in a parlous state. Values have been dropping by 25%, or more, and the time taken to sell properties in excess of £5million, has increased from say six months to 18 months. Frankly, in 40 years of trading I have not witnessed such an extended malaise, without any end in sight.

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Lettings Industry Governments ‘Whipping Boy’

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The Lettings Industry is the ‘whipping boy’ of the government. Before you look around there is another new fangled regulation, or change of legislation, to burden this already besieged industry. Long gone are the days of the Rachman era where scurrilous landlords and their sycophantic agents abused the tenants, now it could even be the other way around.

You would have thought that the pared down Queen’s speech would have needed higher priorities than to include the new regulation prohibiting agents from charging tenants fees, but there it is. Trivia rules KO!

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Capital Gains Tax on ones Personal, Private, Residences (PPR) above £5million is being ‘floated’ by the Torys

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The press has mooted the idea of Capital Gains Tax on ones PPR above £5million. Usually in these circumstances there is no ‘smoke without fire’. Were this ‘fool hardy’ idea to be incorporated in the first Budget of the new Tory administration, were they to be elected, this would be the first time that any government has had the temerity to trounce on the sacred ground of the middle to upper classes. It unquestionably would be another ‘bash’ against London residents, which, lets face it, is hardly a Tory heartland, since it is has been historically left leaning.
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