Golden Venn's quarterly newsletter provides an update on the London property market and insights on selected global destinations.
Autumn 2018 Quarterly Market Report
Key Points
- Average £ per square foot across prime London 4.7% lower than a year ago.
- Transactions down 9% across the board but £3m-£10m category showing year-on-year increase
- Annual rental growth returns to prime central areas with a small rise in September.
- Positive economic news: economy growing, wages outpacing inflation and interest rates low.
- Government proposes additional 3% levy for foreign buyers.
Sales Market
Annual house price growth across the UK has remained broadly stable, between 3.2% and 3.4% in the four months to August, according to the UKHPI. Across London, prices remain marginally lower (-0.2%) than a year ago, while prices across the prime central London market continue to falter…Read More
Rental Market
Annual growth in rental values across the UK remained stable at 0.9% in September, according to the official IPHRP produced by the Office for National Statistics. However, rental growth is projected to rise to 2% over the next year…Read More
Fiscal Policy & Economic Backdrop
Foreign buyers are set to incur an additional 3% levy on residential property purchases, over and above all other charges, under plans unveiled by the Government. The proposed charge would apply to both individual and corporate buyers if they are not registered to pay tax in the UK…Read More
The Golden Venn Perspective
Analysis of the prime central London market continues to provide fascinating insights into the market dynamics. Although investors in the £1-£3 million market may be adopting a ‘wait and see’ tactic as Brexit deadlines approach, transactions in the £3-£10 million bracket, where we see more owner-occupiers, are showing a year-on-year improvement…Read More
Quarterly Tip
Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1- Warren BuffetRead More
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