Thoughts from our Property Experts

“April is always a welcome month, as the Easter holidays beckon, the days grow longer, and our London parks burst into flower.

We are probably greeting the pending new tax year with slightly less enthusiasm as new stamp duty taxes arrive, local house council taxes increase, and interest rates fluctuate. Don’t forget the UK has the highest property tax burden amongst developed nations and it’s not making us popular worldwide!

 

Last month was a busy month as London home buyers raced to beat the April stamp duty deadline. We saw a flurry of transactions at our Notting Hill Office. In summary, agents reported sales transactions noticeably higher in March.  We have already reported that London housing stock for sale is plentiful – listings are up 15-20% v. last year to date. That ratio does not translate through to offers on homes sadly. Prime London discretionary home buyers have plenty of choice, and needless to say cash buyers are king at the negotiating table.

Here at YOUhome we take a very active role in advising our clients and managing their property to achieve the best possible price that the market will allow.  First class presentation, excellent promotion and working the price elasticity of demand is key to attracting buyers and securing sales.

 

You may have read about the “Donald Dashers” the amusingly apt tag given to American home buyers crossing the pond in search of a better value lifestyle here in the UK. A record 6,100 Americans applied to become UK citizens last year.  Can the surge be attributed to America’s latest president? 

 

Americans are keen home buyers in Notting Hill, Chelsea and Kensington. With attractive currency comparables, preferable employment policies, the ability to keep dual nationality and great British schools, London still offers a perfect package for Internationals!

 

Let’s hope market momentum continues in April, and it yields a buoyant month amidst global economic volatility.

 

If your home has been on the market and you are not getting the response you would like, why not call me on +44 (0)207 908 9280  to explore how we do things differently!” Laurence Lai