Momentum Remains Strong In London Property Market
Finefair's prediction of stamp duty stimulation has proved to be correct with capital city property value gains
The reputation Finefair has for being the leading property experts in London was underlined by new figures released for December 2014. Whilst may believed that the overhaul of the Stamp Duty system in the 2014 Autumn Statement would have a limited or negligible effect on the market, Finefair knew that this would have positive implications for both buyers and seller and did not shy away from stating that this was their view. With the information released confirming across the board growth, congratulations are in order for Finefair in respect of accurately foreseeing the effects the changes would have.
The year-on-year rise of property values in London was recorded as being just over 16%. With most analysts suggesting the figure would be below 10%, Finefair have been justified in their making of a far more optimistic prediction.
One of the most important aspects of the growth in London property values is that sales are not diminishing as a consequence of higher prices. This can be attributed to the changes to Stamp Duty, in which current Chancellor George Osborne made the tax for more reasonable and market related for property buyers. From the perspective of the buyer, the increased price of property in London is absorbed by the reduction in Stamp Duty applicable, which means in effect they are buying a property that is priced hire but has a lower real term overall cost.
Finefair has always been known for having a common sense, all inclusive view of the London property market. Whilst factors from across the UK and around the world have some bearing on what happens to property prices in London, Finefair know that the determining degree of effect is not quite as high as other market analysts or property companies believe to be the case. For over ten years Finefair have led the way in the market through never losing sight of the fact that, whether times or good or bad, London prevails and London is the city people want to own property in. Whilst some believe that the uncertainty over a likely winner of the 2015 General Election, or even the prospect of a referendum about the European Union, will cause a decline in the market, Finefair are of the view that this is highly unlikely.
With over a decade of success in the fields of property management, council leasing, guaranteed rent and property sales, Finefair are the voice which represents a true reflection of the state of the market in the capital city. The company is proud to be the first choice for those wanting to gain the greatest advantage possible from their presence in the London property market.
Finefair are the leading property experts in London. They are known and trusted for their outstanding knowledge and ability to bring people the best from the most challenging property market in the world.
Feb 03, 2015