What Next For London Buyers?

What Next For London Buyers?

January has brought a flurry of activity to the London market as investment purchasers step up their game to ensure they avoid the increases in stamp duty.

Sara Ransom, director of Stacks Property Search in London, says: “Buy to live purchasers can't be blamed for stepping out of the arena for this buy to let mini-bubble. Their reward is likely to be less punchy prices on the kind of property that lends itself to investment purchase. So April will be a good month for non-investment purchasers of new homes where there's a good chance that discounts of up to 3% will be on the table.

At the lower end of the resale sector, buyers may struggle to negotiate discounts. The £300,000 - £600,000 market has gone from strength to strength since the new Stamp Duty bands were introduced in the autumn of 2014. The first time buyer market in areas such as Clapham, Balham and Streatham is buoyant; buyers interested in ex-council apartments in Brixton will have to work hard just to look at one before it's snapped up.

Over £600,000 there's less competition, especially as overseas buyers represent a much smaller proportion of buyers than two years ago, but the market is moving steadily, and there's plenty of demand from those upsizing to a second home, with help from the bank of Mum and Dad. But here may be a little room for manoeuvre on price if you do your research, kick hard in the right places, and get your timing right. April will be a good month to be negotiating.


Sara continued: “Meanwhile, the prime central London market remains in intensive care; its recovery is expected to be slow and painful. The question is, how far will prices fall before people start speculating again?

“Last but not least there are some serious concerns brewing for homeowners in Balham. Crossrail 2 has proposed a new route between Clapham Junction and Wimbledon that puts a station at Balham instead of Tooting Broadway. And why isn't this a good thing? The bad news is that there's a rumour that Balham's much vaunted Waitrose will have to shut for up to six years during the construction work. Balham will surely benefit from this fantastic new infrastructure, and prices will inevitably rise as a result, but in the short term, there may be some long faces.”

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brandonlee10
brandonlee10 24 Jul 2017

The financial ramifications of the triggering of Article 50, the starting gun for Britain's departure from the EU, are far from clear. Buyers will be most cautious in London, given that buying a home in...

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IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

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IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

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cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

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Jo Mullett
Jo Mullett 07 Jul 2017

Here in Swansea, known as the Japanese knotweed capital of the UK, it never fails to amazes me that people have no idea of the potential problems this invasive non-native plant can cause when buying or...

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NathanG
NathanG 05 Jul 2017

McDonalds, for example, have been purchasing their real estate on prime locations for years. If something happens to the company they'll have invaluable assets that will be able to save them. We might

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Jonah
Jonah 04 Jul 2017

Graham: surprised to see you cite the "extra tax liability" as capping out at ?560. It doesn't - the extra tax is exponential, as it is levied on the income (i.e the inflating level of rental income you...

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Dianne Griffen
Dianne Griffen 29 Jun 2017

Be very wary of anyone bringing you deals that they have ?found? and want to ?sell on to you? or ?joint venture? with you on ? you need a proper legal contract for this, involve a RICs surveyor to confirm...

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jason hadzikostas
jason hadzikostas 28 Jun 2017

The most important thing is a budget. Students have to manage their spendings in food, house maintenance, books and many other things. According to me, student Studios are the perfect option for them as...

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SecomTech
SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

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Bertrand
Bertrand 02 Jun 2017

How about the Welsh Govt introducing a scheme to protect landlords against "rogue" tenants who are then taken to court for criminal damage to the properties they trash. Pretty unlikely I suspect and politically...

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AmberMorris
AmberMorris 25 May 2017

"Please don't pick a novelty tune-playing doorbell. They're not 'fun'. They're stupid." Laughed a lot to this. It's actually true, though.

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