Official Office of Budget Responsibility documents released this week reveal just how badly higher SDLT rates and the Brexit vote have stamped on both the prime London property market and the nation’s finances. “Receipts so far this year have been much weaker than expected,” declares the OBR (as recently predicted by Turnbull Property), with the top-end of the market – particularly in the capital – seeing transaction levels tank as the cost of moving escalates.
- Charlie Ellingworth: Dealing with the property market’s real villain
- William Carrington: Punishing rates of SDLT continue to undermine the London market
- Charles Curran: Why the new SDLT regime isn’t working
- David Hannah: How to deal with a complex & shifting property tax regime
- James Wyatt: ‘The outlook must be for a continued gradual decline in the real value of property’
- Autumn Statement 2016: The prime resi industry reacts
- And… The prime resi industry’s initial reactions to George Osborne’s “complete reform” of the stamp duty regime, from December 2014