The double dose of pain from Stamp Duty hikes and a faltering Brexit have induced torpor into the Residential Property Market. So it is an opportune moment to review marketing techniques that will help deliver a sale, even in these turgid times.
Those who sneer at the For Sale Board and dismiss it as ‘Prehistoric’ or think of it as an agent’s conspicuous self-aggrandisement, are guilty of a gross misunderstanding. You, the consumer, maybe losing out. Continue reading
Let’s face it, everyone loves a bit of shameless flattery. Whether it’s about your looks (“Darling, you look FABulous in that size 30 fluorescent bell tent) or your abilities, a compliment is intoxicating with accompanying rewards, yet it costs nothing, unless, of course, it is misleading and puts you in the promised land and here’s the rub…let me explain.
When you want to sell your property and you call an estate agent, you rely on them to give an honest impression of value. However, we inhabit a property owning culture where, not content with merely seeking shelter from the outdoors, owners now expect their home to perform beyond the call of duty, functioning as a quasi-pension as well as a tax-free savings scheme. There’s every expectation that upon a sale, it not only pays for the next property, but in later life, helps the children with their own deposits and then finally, refurbs the family retirement nest egg.
Continue reading
Ah, the joys of Spring. Hosts of waving daffodils, cheery birdsong – and a mini Budget update. If the country is to emerge from its collective wintry torpor then Mr. Hammond has to grow up, be a man and cut the Stamp Duty monster down to size. The problem stems from the clumsy ‘revision’ of the Stamp Duty escalator. Not only does it bend the Residential Property Market out of shape, but it is now costing the Treasury a £1billion per annum or more to sustain.
Like many government ‘ideas’, it reeks of incompetence and failure (thank you, George Osborne for this legacy). Prospective purchasers above a £1million, i.e. mostly in London, are being hit by a slew of aggravated tax costs. Not surprisingly, transaction numbers have been curtailed by 70% and any liquidity in the market has turned to stodge. This tax is perfectly collectable, but easily avoided – as long as you don’t do anything so ridiculous as move house.
Continue reading