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…Read More
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+) marketsRead More
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.Read More
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…Read More
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