Golden Venn's quarterly newsletter provides an update on the London property market and insights on selected global destinations.
Spring 2017 Quarterly Market Report
- The first quarter of 2017 has seen a stabilisation across much of the prime London housing market.
- The number of properties under offer in February 2017 was 22% higher than in February 2016 and new buyers have risen by 4%.
- In prime London, rental market stock levels are moderating but demand remains high, leading to the easing of price drops.
- The Government is dropping, for now, sections of the Finance Bill affecting taxation of off-shore trusts and non-dom ownership of UK property.
- Forecast Growth across the UK economy has been revised upwards to 2%.
Sales MarketThe first quarter of 2017 has seen markets stabilise across much of the prime London housing market. Transactions remain steady while the rate of price falls has slowed...
Rental MarketRental values across London rose by 1.6% in the year to March, according to the Office for National Statistics Private Rental Index, while the decline across prime areas of the capital continued to ease...
Fiscal Policy & Economic BackdropIt was widely expected that from 6th April 2017, new legislation would remove tax advantages for non-domiciled long-term residents of the UK and those holding UK properties in non-UK companies or partnerships, known as 'enveloping'...
The GV PerspectiveThere are encouraging signs of stability in both the sales and rental markets in central London, despite the continued uncertainty as the UK negotiates its way through Brexit...
Quarterly TipBrexit or not, London's prime central market remains a solid long-term bet...
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