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.
Monday, 14 December 2009
Friday, 13 November 2009
Camden Estate & Letting Agents: Cycle Routes Rival Tube Links in London Property Purchasers Wish List
Friday, 25 September 2009
Thursday, 24 September 2009
House Prices Rise due to Shortage
A shortage of houses on estate agents' books has pushed asking prices up by 0.6 per cent this month.
The average property put on the market during the five weeks to September 12 was priced at £223,996 – only 1.5 per cent less than in September 2008.
In some areas of the country asking prices are already higher than they were a year ago, with prices up 1.5 per cent in East Anglia and 0.4 per cent in the south-east, while in London they are down by 0.9 per cent.
The average property put on the market during the five weeks to September 12 was priced at £223,996 – only 1.5 per cent less than in September 2008.
In some areas of the country asking prices are already higher than they were a year ago, with prices up 1.5 per cent in East Anglia and 0.4 per cent in the south-east, while in London they are down by 0.9 per cent.
Monday, 10 August 2009
Bayswater Sub Letting Crackdown
Labour Councillors have called on Westminster City Council to launch a crackdown on illegal sub-letting of council flats. With over 3,000 families on the waiting list and over 1,400 families waiting for a transfer to larger accommodation, Labour Councillors say that illegal sub-letting is creating real misery for local residents in housing need, while allowing unscrupulous tenants to rake in thousands of pounds a year in unearned and untaxed income.
Labour Councillors say that the rent for a 3 bedroom Council flat or house in Westminster is £114 a week but on the private rental market the property would command a rent of at least £550 a week in St John's Wood, Marylebone, Bayswater, Maida Vale and Pimlico, netting the illegal sub-letting over £22,600 a year.
Labour Councillors say that the rent for a 3 bedroom Council flat or house in Westminster is £114 a week but on the private rental market the property would command a rent of at least £550 a week in St John's Wood, Marylebone, Bayswater, Maida Vale and Pimlico, netting the illegal sub-letting over £22,600 a year.
Thursday, 23 July 2009
Blairs to Profit From Connaught Square Property
With most house prices in a state of flux across the country, Tony and Cherie Blair have managed to make a profit - on paper - of more than £2 million out of the central London mansion in Connaught Square they controversially bought in 2004 using a loan paid off through Parliamentary expenses.
The Blairs spent £3.65 million on the 19th-century property in Bayswater, close to Hyde Park. Two years ago they also bought an adjoining mews house for £800,000, knocking down its walls to make one house. Estate agents now estimate the former prime minister's five-bedroom, three-bathroom house could be worth around £6.6 million, based on the recent sale of a neighbouring property.
In 2004 Blair re-mortgaged his constituency home in Trimdon, County Durham for a second time, in order to secure a £296,000 loan from Cheltenham & Gloucester. This helped pay for the £182,500 deposit on the Connaught Square property. Blair then claimed the loan interest on expenses.
Despite the volatile housing market, Connaught Village - as the area around the square, formerly called Tyburnia after the nearby place of execution, is now known - is still seen as a good buy by wealthy prospective buyers.
The Blairs spent £3.65 million on the 19th-century property in Bayswater, close to Hyde Park. Two years ago they also bought an adjoining mews house for £800,000, knocking down its walls to make one house. Estate agents now estimate the former prime minister's five-bedroom, three-bathroom house could be worth around £6.6 million, based on the recent sale of a neighbouring property.
In 2004 Blair re-mortgaged his constituency home in Trimdon, County Durham for a second time, in order to secure a £296,000 loan from Cheltenham & Gloucester. This helped pay for the £182,500 deposit on the Connaught Square property. Blair then claimed the loan interest on expenses.
Despite the volatile housing market, Connaught Village - as the area around the square, formerly called Tyburnia after the nearby place of execution, is now known - is still seen as a good buy by wealthy prospective buyers.
Thursday, 11 June 2009
Bayswater Property For Sale
Hyde ParkWestbourne Street
London
Greater London
W2
£ 2,750,000
Freehold Property
This substantial white stucco property is excellently located opposite Hyde Park and is close to a wealth of transport facilities including Paddington Station providing International (Heathrow Express), National and City Links, as well as Lancaster Gate and Bayswater tube stations.
Marble Arch and Oxford Street are moments away with its comprehensive shopping facilities.
This freehold building has been in the same ownership for the last 18 years and is arranged as 2 large maisonettes and 3 flats. the property also has potential to be converted into a beautiful period house.
The property is currently in a poor state of repair and is in need of a face lift.
Paramount Investments are specialists in sourcing freehold and leasehold UK pubs for sale and other investment opportunities in England, Scotland and Wales for potential property investors.
Paramount Pub Sales
150 West End Lane
West Hampstead
London NW6 1SD
Tel: 020 7644 2333
Web: UK Pubs For Sale
Blog: UK Pub Sales Blog
Search: UK Pub Trade Directory
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