Posted by: katalysis
What a year its been. General election, radical pension changes, stamp duty tax and extensive BTL regulations to name but a few.
So let’s start with London. It is widely commented from some quarters that the revised stamp duty scale has apparently had a dampening effect on high-end London (or is it simply that London is now finally settling to its true level?) Will this ripple out through the country as in previous markets we wonder? In the wider market, instruction levels are still falling and available stock now sits at such low levels as not seen since the late 1970s! The knock on effect of which is to push the price of most property even higher. Official Land Registry data shows recorded sales continuing to decline over 10% whilst average sold prices are up over 5% on the year. Then there’s Buy-to let. Well the chancellor has announced massive changes of late that over time could have noticeable impact. Or perhaps not? Landlords will factor in costs and returns across their portfolio for tax changes and additional 3% stamp duty and given an ever rapidly increasing population BTL is surely a market that will have no end.
With such twists and turns over the past year we look forward to the coming 12 months, who knows.. challenging but exciting times lie ahead.
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