Market Report

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

Winter 2016 Quarterly Market Report

Key Points

  • The average price of a London home rose by 12.4% in 2015 to £514,097. In prime central London, annual price growth was 1.2% at the start of 2016.
  • Sales volumes dropped in 2015, particularly for homes over £2 million, following the increase in transaction taxes (stamp duty).
  • Across London, rental values increased by 6.3% in 2015 but in prime central London the increase was just 0.2%.
  • Demand for rental is suppressed in the short term by uncertainty on financial markets but in the longer term, renting may become a more attractive option than buying for many short-term residents.
  • London remains attractive as a centre for capital preservation, even though the prospects of short term capital appreciation have diminished.

Sales Market

According to the Land Registry, average London house prices rose to £514,097 in December 2015: 12.4% higher than 12 months earlier. London remains the strongest performing region across England and Wales...

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Rental Market

Rents across England and Wales are currently rising at their fastest annual rate since 2011 according to data from the Your Move buy-to-let index. Rental values rose by 3.4% on average over 2015...

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Fiscal Policy & Economic Backdrop

The Autumn Statement at the end of 2015 announced a 3% stamp duty surcharge on additional properties (including buy-to-let properties and second homes) to be payable on completions from 1st April 2016 onwards...

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The GV Perspective

The last two months have seen a surge in demand and higher sales volumes as sellers proved more willing to absorb the additional costs of stamp duty and buyers moved to beat the surcharge deadline in April 2016...

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Quarterly Tip

Buy when people sell and sell when people buy...

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