Market Report

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

Summer 2020 Quarterly Market Report

Key Points

  • 32% increase in buyer registrations in June across prime London
  • Offers agreed in sub-£1 million market up 41% on five-year average
  • No SDLT on property up to £500,000 set to boost the market
  • Steady rise in rental market activity since the market reopened
  • Cost of buying, holding, and selling property in London globally competitive

Sales Market

COVID-19 created a seismic shock wave…. When the market reopened on 13th May the positive sentiment from a release of pent-up demand was immediate…. The majority (92%) of London buyers who had been searching pre lockdown still intend to purchase…

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Rental Market

Just under a quarter (24%) of leases in London expired between April and June compared to nearly a third (32%) across the UK….Since the market reopened there has been a steady rise in activity, particularly in the lower (less than £500 per week) and higher (£3000+) markets

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Fiscal Policy and Economic Backdrop

The summer statement on July 8… promised more government incentives aimed at supporting businesses and jobs. Many prospective buyers will make an instant saving thanks to the abolition of stamp duty taxation on the first £500,000 of a property purchase.

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The Golden Venn Perspective

Following the reopening of the prime London market in May we saw an upsurge in buyer enquiries and viewings, a result of pent up demand…

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Quarterly Tip

“You miss 100% of the shots you don’t take” - Michael Jordan

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