The stamp duty holiday is coming to an end at the end of this year; all property, money and finance newspapers, blogs and industry magazines are speculating the impact of the holiday on the property market. While some are calling for an extension to the stamp duty holiday to further stimulate the market, others question the number of homeowners who benefited from this tax relief.
Between 2 September 2008 (when the holiday took effect) and 1 September 2009, the tax relief saved property buyers only £173 million, compared to the £600 million forecast by the government. It is not thought that the last three months of 2009 will treble the actual figure to meet the Government predictions
The London property market was never likely to benefit from the stamp duty holiday anyway where homebuyers are unlikely to find a house under stamp duty holiday threshold of £175,000.
There may be signs of a scramble to buy before the deadline and the return to the £125000 level, for the first time buyer, or those home buyers in other areas of the country. These are perhaps the areas that most need the relief and would most benefit from an extension of the holiday. It has been argued that this is benefit enough. However the more popular line this week has been the need to regionalise such tax relief in the future, so that those areas of the country where housing is more expensive should benefit from a higher threshold, so that all geographical areas of the market are stimulated, and all tax payers/ homebuyers get the benefit.
Thursday, 26 November 2009
Saturday, 31 October 2009
Cycling Facilities Becoming a Deal Clincher for London House Buyers
A report in This Is London today reveals that secure bike storage and proximity to cycle paths are rivalling Tube stations and car parking in determining London's most sought-after properties.
Where once new home owners were considering close proximity to travel links such as tube stations and over ground stations, with more and more journeys being made by bike in London it appears that prospective home owners are now factoring in the nearest cycle path and bike shed before making that all important decision.
With London Mayor Boris Johnson pledging a cycling revolution in with his London Cycle Hire Scheme and his Cycle Superhighways, cycling is set to get even more popular next year. And with more cash promised for secure bike parking facilities at stations there will be plenty of storage and cycle routes for cyclists.
Where once new home owners were considering close proximity to travel links such as tube stations and over ground stations, with more and more journeys being made by bike in London it appears that prospective home owners are now factoring in the nearest cycle path and bike shed before making that all important decision.
With London Mayor Boris Johnson pledging a cycling revolution in with his London Cycle Hire Scheme and his Cycle Superhighways, cycling is set to get even more popular next year. And with more cash promised for secure bike parking facilities at stations there will be plenty of storage and cycle routes for cyclists.
Thursday, 29 October 2009
Monday, 26 October 2009
Buy to Let is Back
Investors with ready cash and an eye for repossessions revive buy-to-let market
Buy-to-let investors are back, according to the latest figures, which show that estate agents have reported an increase in landlords buying property in the past three months.
Figures compiled by the Royal Institution of Chartered Surveyors (RICS) for The Times showed a 2 per cent increase in the number of surveyors that reported an increase rather than a fall in buy-to-let demand in the three months to September.
However, investors are no longer interested in snapping up city-centre flats; RICS reported increased demand for houses from buy-to-let landlords, with 5 per cent more surveyors reporting an increase, while there was a sharp drop in demand for flats, with 15 per cent of surveyors reporting a fall rather than a rise.
Times online
Buy-to-let investors are back, according to the latest figures, which show that estate agents have reported an increase in landlords buying property in the past three months.
Figures compiled by the Royal Institution of Chartered Surveyors (RICS) for The Times showed a 2 per cent increase in the number of surveyors that reported an increase rather than a fall in buy-to-let demand in the three months to September.
However, investors are no longer interested in snapping up city-centre flats; RICS reported increased demand for houses from buy-to-let landlords, with 5 per cent more surveyors reporting an increase, while there was a sharp drop in demand for flats, with 15 per cent of surveyors reporting a fall rather than a rise.
Times online
Thursday, 22 October 2009
London Property Market Sealed Bids and Gazumping
Sealed bids and gazumping are once again prominent features of the Central London property market, as the severe shortage of homes for sale drives prices back to 2007 levels.
10% of sales are generating multiple offers and ending in sealed bids, with the vendor often achieving in excess of the full asking price. Properties which are particularly sought-after, such as family houses and large apartments in prominent locations such as Hyde Park, Chelsea and St John's Wood, and those close to good schools in Battersea and Clapham, are achieving in the region of 20 bids per property.
Foreign buyers are still making up a significant proportion of buyers in Central London as they move to take advantage of the weak pound.
For more of this article
10% of sales are generating multiple offers and ending in sealed bids, with the vendor often achieving in excess of the full asking price. Properties which are particularly sought-after, such as family houses and large apartments in prominent locations such as Hyde Park, Chelsea and St John's Wood, and those close to good schools in Battersea and Clapham, are achieving in the region of 20 bids per property.
Foreign buyers are still making up a significant proportion of buyers in Central London as they move to take advantage of the weak pound.
For more of this article
Sunday, 18 October 2009
Flat To Let Shirland Road, Maida Vale, London, W9
A lovingly refurbished three bedroom two bathroom apartment set on the second floor of this imposing block within close proximity to Swiss Cottage and St. John's Wood. Benefits include a spacious reception room with wood flooring, master bedroom with dressing room and ensuite bathroom, two further double bedrooms, family bathroom, storage, beautifully furnished, potential off street parking, 24 hour concierge, lift, available NOW!
Shirland Road, Maida Vale, London, W9
Friday, 2 October 2009
Sunday, 27 September 2009
How Much Publicity Can One Road Sign Generate? Abbey Road
The London Informer informs us; An Iconic Abbey Road street sign made famous by the Beatles' multi-million selling album is being auctioned on eBay.
The enamelled St John's Wood street sign, which was installed near the world-famous zebra crossing at the junction of Abbey Road and Grove End Road six years ago, was removed in 2007 because graffiti from Beatles' fans could not be scrubbed off.
This sign, and a further 42 from the West End including one for Covent Garden and others for Drury Lane and Bow Street, went on sale this week in a seven-day auction which closes on Tuesday.
The Abbey Road sign has a reserve price of £1,000, while the others start from £50 or £100.
It is hoped the auction, by Westminster Council, will raise up to £20,000 to plough back into transport projects and street improvements in Westminster.
The West End signs have all been in use for more than 10 years and are being replaced with a new design to create a more distinct character for the theatreland district.
All the signs feature Westminster's traditional black and red capital lettering, which was first created by designer Sir Misha Black in 1967.
The font is unique to Westminster's street signs and is not available anywhere else in the world.
Other organisations are forbidden by copyright to reproduce the signs, making them even more highly-prized.
The enamelled St John's Wood street sign, which was installed near the world-famous zebra crossing at the junction of Abbey Road and Grove End Road six years ago, was removed in 2007 because graffiti from Beatles' fans could not be scrubbed off.
This sign, and a further 42 from the West End including one for Covent Garden and others for Drury Lane and Bow Street, went on sale this week in a seven-day auction which closes on Tuesday.
The Abbey Road sign has a reserve price of £1,000, while the others start from £50 or £100.
It is hoped the auction, by Westminster Council, will raise up to £20,000 to plough back into transport projects and street improvements in Westminster.
The West End signs have all been in use for more than 10 years and are being replaced with a new design to create a more distinct character for the theatreland district.
All the signs feature Westminster's traditional black and red capital lettering, which was first created by designer Sir Misha Black in 1967.
The font is unique to Westminster's street signs and is not available anywhere else in the world.
Other organisations are forbidden by copyright to reproduce the signs, making them even more highly-prized.
Saturday, 26 September 2009
The Next Station Is Archery; New Olympic Tube Map
A NEW Tube map will show the locations of Olympic sporting events.
The Mayor wants visitors to the 2012 Games to be able to identify easily the correct stop for different events. Relevant stations could either be indicated by the Olympic rings symbol or the symbol for each sport.
Although the majority of the events take place in the Olympic Park, served by Stratford and West Ham Underground stations and Hackney Wick Overground station, there are several elsewhere in London. They include volleyball at Earl's Court, archery at Lord's, near St John's Wood, and tennis at Wimbledon.
The Mayor wants visitors to the 2012 Games to be able to identify easily the correct stop for different events. Relevant stations could either be indicated by the Olympic rings symbol or the symbol for each sport.
Although the majority of the events take place in the Olympic Park, served by Stratford and West Ham Underground stations and Hackney Wick Overground station, there are several elsewhere in London. They include volleyball at Earl's Court, archery at Lord's, near St John's Wood, and tennis at Wimbledon.
Friday, 25 September 2009
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