London house prices?

[gibbon]

Adam B said:

anonymous said:

[redacted]

stamp duty? what makes you think that?

Because it was raised in order to bring in more cash to the treasury, it has done the opposite effect. They will be forced to reform it, and we have had sufficient changeover of staff for it not to be embarrassing.

[Adam B]

gibbon said:

Because it was raised in order to bring in more cash to the treasury, it has done the opposite effect. They will be forced to reform it, and we have had sufficient changeover of staff for it not to be embarrassing.

yeah I read that, although if the fall is down to less BTL activity, it could be argued the tax was designed to dissuade BTL rather than raise revenue (and so it worked)

[Burwood]

Adam B said:

gibbon said:

Because it was raised in order to bring in more cash to the treasury, it has done the opposite effect. They will be forced to reform it, and we have had sufficient changeover of staff for it not to be embarrassing.

yeah I read that, although if the fall is down to less BTL activity, it could be argued the tax was designed to dissuade BTL rather than raise revenue (and so it worked)

we all know it's all about revenue grabbing. The rates are not a missive BTL inhibiter.

[z4RRSchris]

nothing to do with BTL. it hits the £2m+ market

[p1stonhead]

z4RRSchris said:

nothing to do with BTL. it hits the £2m+ market

Yep. Its fking destroyed it.

[z4RRSchris]

unfortunately.

im selling a flat which the buyer would pay over £3m in stamp, off a £20m flat.

[Zod]

p1stonhead said:

z4RRSchris said:

nothing to do with BTL. it hits the £2m+ market

Yep. Its fking destroyed it.

Yep. Loads of houses and flats in the estate agents' windows, but no one is buying.

[Croutons]

The ONS says average earnings are £505/ week, and you think "something must be done"? Dream on...

[Harry Flashman]

anonymous said:

[redacted]

This. My mother's house is in Wentworth, Virginia Water, Surrey. And very little is selling there now it seems. Folks are staying put - she was going to sell it and move to Windsor, but that plan is now on hold indefinitely.

Meanwhile Lady F and I have done exactly that - in London zone 3 spent £200k to make a 1m, 2300 square foot house 30% bigger and fully refurbished. There are no longer any house for sale near us at over 2000 square feet for under £1m.
I
So you're spot on.

Edited by Harry Flashman on Friday 18th November 19:30

Edited by Harry Flashman on Friday 18th November 19:32

[P1ato]

Tonkers is spot on.

The extension mania may be good news for the construction industry and that presumably has some impact on the tax going to the treasury.
Unfortunately some of the developments in my patch of SW London are hideous, with every gap between houses being filled.

[BlackLabel]

How's the London housing market looking now?

[housen]

BlackLabel said:

How's the London housing market looking now?

same

strong in 500k-1.5mm area id say

[z4RRSchris]

new build:

strong sub £1m and over £5m.

in between is sticky like a stick - unless you can give a nice discount. Done 13 deals in one development post brexit all over £2m.

[Harry Flashman]

Chris is spot on. Plenty for sale between £1.2m and £2m around us. And the same houses have all been on sale for months.

Loft extensions and basements been done all along our road; every other house, it seems.

We're just finishing our refurbishment. Frankly, if we ever need a bigger house (hopefully not likely), will I spend £200k+ on stamp duty, or will I do a basement? Basement for sure.

London housing market seems dead in the water in this sector.

[JiggyJaggy]

Transactions are still occurring in central London which is an area I can confidently comment on. International currency conversions are giving good reason for this. Still a lot of uncertainty in the market forever.

[z4RRSchris]

i did a £19m, £5.5m, £8.5m, £2m last month. woo

[kiethton]

just out of interest - what proportion to foreign buyers vs UK domestic purchasers?

[z4RRSchris]

they were local local local overseas.

[housen]

z4RRSchris said:

i did a £19m, £5.5m, £8.5m, £2m last month. woo

damn


u must be coining the brokerage on those

im in the wrong game

[okgo]

housen said:

damn


u must be coining the brokerage on those

im in the wrong game

u r inded