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Nov 4, 2024 | 
londonlovesproperty.com | Robert Habbitts |Jonathan Hopper |Craig Vile |Sean Newman
An American buyer has purchased the only house in Mayfair designed by acclaimed minimalist architect John Pawson CBE, a £6.75 million 2,845 sq.ft. (264.3 sq.m.) white stucco three bedroom house in Hay’s Mews, the deal was fast-tracked by sole selling agent Wetherell in order to avoid the Autumn Budget’s rise in Stamp Duty for overseas buyers. The house was the last sale in Mayfair before the budget.
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Nov 4, 2024 | 
londonlovesproperty.com | Robert Habbitts |Jonathan Hopper |Craig Vile |Sean Newman
The latest market insight from London lettings and estate agent, Benham and Reeves, has revealed that whilst the threat of a capital gains tax hike was weighing heavy on the minds of the nation’s landlords in the lead up to last week’s Autumn Statement, the increase in stamp duty on second home purchases is far less of a concern.
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Nov 4, 2024 | 
londonlovesproperty.com | Robert Habbitts |Jonathan Hopper |Craig Vile |Sean Newman
The latest research by eXp UK, the platform for personal estate agents and estate agency businesses, has revealed that as of next April first-time buyers will have considerably less choice when it comes to a stamp duty free property purchase, as the current Stamp Duty Land Tax (SDLT) threshold at which no tax is owed reverts back to £300,000 from the current threshold of £425,000 – a move that will see SDLT free stock levels fall by 20% of over 90,000 properties.
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Nov 4, 2024 | 
londonlovesproperty.com | Robert Habbitts |Jonathan Hopper |Craig Vile |Sean Newman
The latest research from over-50s property specialists, Regency Living, has revealed that existing homebuyers in no less than 99% of local authorities across England are set to see Stamp Duty Land Tax (SDLT) increase come April of next year, now that no extension has been afforded by the government in last week’s Autumn Statement – with homebuyers in 67% of local authorities set to be hit with the maximum increase of £2,500.
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Nov 4, 2024 | 
londonlovesproperty.com | Robert Habbitts |Jonathan Hopper |Craig Vile |Sean Newman
The latest analysis from Inventory Base, the UK’s market leading Property Inventory software, reveals that last week’s Autumn Budget has resulted in England’s second-home buyers facing an overnight stamp duty bill increase averaging more than £6,000, leading in a renewed call for landlords and property managers to find ways of reducing operational costs to maintain the profitability of the private rental sector.
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Nov 4, 2024 | 
londonlovesproperty.com | Jonathan Hopper |Craig Vile |Sean Newman |Robert Habbitts
We’ve all been speculating on the impact of the budget for many weeks. Thursday morning, we woke up to the harsh reality. In my case that meant spending all morning having to advise clients that their stamp duty liability on the home they were in the middle of purchasing had increased substantially. Stamp duty on second homes is now: 5% on homes worth up to £250,000 (a rise from 3%) 8% for the next £250,001 to £925,000 13% for £925,001 to £1,500,000 15% for any value above £1.5m.
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Nov 1, 2024 | 
estateagenttoday.co.uk | Sean Newman
Less than 24 hours after the Budget and the Chancellor, Rachel Reeves was already admitting that her £40bn tax-raising Budget was likely to hit pay for workers. She said it’s likely her increases in employer NI contributions (up from 13.2% to 15%) is likely to affect employee pay packets as businesses either absorb the increase or award lower wage increases. All of which is bad news for property professionals employed in traditional agencies up and down the country.
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Nov 1, 2024 | 
theintermediary.co.uk | Sean Newman
Less than 24 hours after the Budget and the Chancellor, Rachel Reeves was already admitting that her £40bn tax-raising Budget was likely to hit pay for workers. She said it’s likely her increases in employer National Insurance (NI) contributions, up from 13.2% to 15%, will affect employee pay packets as businesses either absorb the increase or award lower wage increases. All of which is bad news for property professionals employed in traditional agencies up and down the country.
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Oct 25, 2024 | 
estateagenttoday.co.uk | Sean Newman
The downward pressure on house prices is creating more opportunities for self-employed agents, according to the founder of one self-employed agency networkThe latest Rightmove data showed that house prices in September rose by just 0.3% – much less than might be expected during the Autumn ‘bounce.’As the founder of The Property Experts I can tell you these price sensitive market conditions create a business environment where self-employed agents will thrive.
