Market Report

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

Spring 2016 Quarterly Market Report

Key Points

  • The average price of a London home rose by 13.5% in the year to February 2015, to £530,368. In prime central London, annual price growth was 0.8% in the year to March 2016.
  • Transactions volumes increased in central London, prompted by the stamp duty deadline on April 1 for investment properties and second homes.
  • Across London, rental values increased by 4.8% in the year to February 2016, but in prime central London rents fell by 1%.
  • The supply of rental properties has increased as those considering a sale have opted to become landlords rather than accept lower offers, confident in the long term prospects for prime London properties.
  • While the prime market is expected to continue to slow in 2016, a return to stronger market conditions is expected in 2017 as fundamentals such as a weaker pound, more realistic pricing and London’s continued international appeal take effect.

Sales Market

Average London house prices rose to £530,368 in February 2016 (Land Registry), an increase of 13.5% in 12 months. London remains the strongest performing region across England and Wales with its rate of house price growth more than double the national average (6.1%)...

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Rental Market

Rents across England and Wales experienced their first monthly increase since autumn 2015, according to the Your Move buy-to-let index, rising by 0.1% from January to February 2016. Annual rental growth across London was 4.8%, well above the average for England and Wales of 3.3%...

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Fiscal Policy & Economic Backdrop

Those hoping larger scale investors would be excluded from stamp duty obligations were disappointed, with the Chancellor’s budget confirming the additional 3% will be payable on all investment and second home purchases...

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The GV Perspective

A range of global and domestic factors have caused the prime central London residential market to finally slow down, recording the lowest annual growth in six years. Longer term issues include low oil prices, the economic difficulties in China and domestic tax changes...

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Quarterly Tip

Every crisis presents an opportunity...

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