Market Report

Golden Venn's quarterly newsletter provides an update on the London property market and insights on selected global destinations.

Spring 2018 Quarterly Market Report


Key Points

  • London property market remains slow.
  • Prime central London prices now 8% below 2015 peak.
  • Anticipated May interest rate rise may be put on hold as March inflation rate falls.
  • Government proposes to speed up Capital Gains Tax payments to within 30 days.
  • Growing tenant demand-if demand exceeds supply, could lead to upward pressure on prices.

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Sales Market

Momentum across much of the London property market remains subdued. Across prime central London average prices fell 1.1% in the year to March, according to Knight Frank; the fourth consecutive month of marginal annual adjustment, with the agency reporting prices are now 8% below their 2015 peak...

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Rental Market

Supply has exceeded demand across much of the prime London rental market in recent times, placing sustained pressure on prices. However, evidence suggests this situation is beginning to change. Data from LonRes indicates that the supply of new instructions to prime central London fell by over 11%...

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Fiscal Policy & Economic Backdrop

New tax rules relating to non-domicile residents are now in force, and take retrospective effect from 6th April 2017. Any person who has been resident in the UK for more than 15 of the previous 20 years will be deemed domiciled in the UK for tax purposes. Inheritance tax is also now chargeable...

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The GV Perspective

The London property market is undoubtedly resilient. Despite major property tax changes, together with the well-documented prevailing period of political uncertainty, prices are only running at just 8% below the 2015 peak. While further price corrections are a possibility during 2018, there are indications of stability...

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Quarterly Tip

"Be fearful when others are greedy. Be greedy when others are fearful." Warren Buffett

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