Buy-to-let investors and second-home owners were behind three in five property purchases made in Prime London during Q1 2016, boosting the proportion of purchases made in cash, according to estate agent Marsh & Parsons’ latest London Property Monitor.
Accounting for 36% of all sales from January to March, buy-to-let investors were the most prolific type of buyer across Prime London in the three months immediately preceding the April 1st implementation of an additional 3% Stamp Duty. This represents a significant spike from 26% of purchases during the previous quarter, and a sudden reversal of the recent trend of weakening investor influence. Investor share of the market has been in slow decline last year since it peaked at 37% in Q4 2014.
In a story from The Guardian the government’s starter homes initiative could deliver a taxpayer-backed windfall of £141,000 each to 200,000 lucky first-time buyers, but 2 million more aspiring homeowners will be stuck renting, campaigners say.
London will become a city of renters, with just 40pc owning their own home in 2025, according to new research from PwC and reported today in The Telegraph.
This is a reversal of the situation in 2000, when 60pc of Londoners owned a house, either outright or with a mortgage.
The Telegraph reports UK property asking prices have hit an all-time record high of almost £300,000.
House sellers so far this month have been seeking an average of £299,287 across England and Wales, according to property website Rightmove. Continue reading
According to Metro If your street has the name Warren or Chase in it is likely to be worth more…
Roof terraces strong enough to take a helicopter’s weight, squash courts in the basement and car galleries to display vehicle collections are among some of the most extravagant homebuyer requests fielded by Marsh & Parsons recently.