Golden Venn's quarterly newsletter provides an update on the London property market and insights on selected global destinations.
Winter 2015 Quarterly Market Report
- Prime central London prices rose 5.1% in December 2014 – lowest annual rise in five years.
- Prime central London rental rates rose 3.3% in December 2014 – highest annual rise in 36 months.
- Prime central London rental yields rose to 2.92% in November 2014 – close to an 18 month high.
- Autumn Statement 2014 - major reforms of SDLT, ATED, and CGT for non-UK residents.
- Prime central London property remains strong investment choice – overall annual returns of over 9% in December 2014.
Market ReportLondon House Prices – According to the Land Registry’s House Price Index (HPI) for December 2014, which captures actual changes in the value of residential properties, the average price of property in England and Wales increased by 7.0% in the 12 months to December 2014. The region which experienced the most significant movement by far...
The Rental MarketAccording to LSL Property Services’ Buy-to-Let Index, the annual growth in rental rates in England and Wales rose to 3% in December 2014, significantly higher than its previous peak of 2.4% in August, and a far cry from its lowest annual rise of just 0.6% seen last April. In fact, average rental rates are still...
Fiscal & Regulatory OutlookThe 2014 Autumn Statement has clearly targeted the non-doms and the top-end house buyers, which was expected given the imminent election in May 2015 (see figure 8). What was least expected were the changes in the Stamp Duty Land Tax (SDLT) rates. The Chancellor’s Autumn Statement announced a major reform of SDLT for residential property...
The GV PerspectiveDuring the first quarter of 2014, the 2015 general election in the UK seemed a long way off and there was little, if any, effect on the property market. However, by the second and third quarters the level of uncertainty over the possible results of the election began to rise conspicuously, as more talk began...
Quarterly TipShort leases should not deter you… they might represent opportunities, as often there is less competition and one might be able to negotiate a better price.
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