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

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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How to reduce that awful Stamp Duty Tax

We all know that a number of years ago, the former Chancellor Osborne hiked Stamp Duty (SDLT) rates for properties above £900,000 and this has now caused a DIY recession in the London Residential Property Market, such that turnover of sales is down by 70% and values by about 25% from the former highs of 2014.

In some sectors the market is stodgy and illiquid. What did Osborne expect?
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Solving The UK Housing Crisis

The love affair between the ‘great British public’ and the Residential Property Market is very enduring and whilst it has always been a prevalent feature of this country, Margaret Thatcher spearheaded the home owning revolution with her reforms and sales of council houses in the 80s.

Anyone who participated in buying their own home, for say £35,000 at the time, would now be looking at an asset value of circa £600,000. As a result, not only does a home provide a sanctuary for the family, but also could be a quasi pension for old age, should the property be sold and the owners downsize.
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