Golden Venn's quarterly newsletter provides an update on the London property market and insights on selected global destinations.
Winter 2017 Quarterly Market Report
Key Points
- Property sales in central London increased towards the end of 2016.
- A rise of 9% in new buyer enquiries for properties over £2 million was reported in 2016 compared to 2015.
- The number of both new tenancies agreed and viewings were up in November 2016 compared to November 2015.
- Draft legislation for Inheritance Tax and residential property has been published by the UK government.
- London is currently ranked as the most desirable city in the world in which to purchase luxury property.
Sales Market
The end of 2016 proved busier than many expected for the prime London housing market. The UK House Price Index indicates that annual price growth (November 2015 to November 2016) across Greater London continues to outperform the rest of England and Wales (8.1% compared to 7.1%)...Read More
Rental Market
Annual rental prices across the UK rose by 2.3% in November according to the Office of National Statistics, a similar level of increase to the last five months. Prices across Greater London however, have fallen by 4.4% according to Rightmove (Q4 2016 and Q4 2015) and in prime areas they are down by 5.1% in the year to December according to Knight Frank, as high stock levels here have impacted on prices...Read More
Fiscal Policy & Economic Backdrop
Draft legislation for Inheritance Tax and residential property has been published. From April 2017, holding UK residential property in non-UK companies, known as ‘enveloping’, will no longer have tax advantages and will become transparent...Read More
The GV Perspective
Property sales in central London increased towards the end of 2016, largely due to the weaker pound and more realistic prices being set by vendors. Following the increase in base rate by the Federal Reserve in December, the US dollar strengthened...Read More
Quarterly Tip
Buying a property without an advisor is like going to court without a lawyer...Read More
Past issues
- Spring 2014
- Summer 2014
- Autumn 2014
- Winter 2015
- Spring 2015
- Autumn 2015
- Winter 2016
- Spring 2016
- Summer 2016
- Autumn 2016
- Winter 2017
- Spring 2017
- Summer 2017
- Autumn 2017
- Winter 2018
- Spring 2018
- Summer 2018
- Autumn 2018
- Winter 2019
- Spring 2019
- Summer 2019
- Autumn 2019
- Winter 2020
- Summer 2020
- Autumn 2022
- Winter 2023
- Spring 2023