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Investment & New Homes
London Property Market 14 December 2017

London Residential Report - Winter 2017

The lingering impact of punitive stamp duty rates for high value property, the phasing out of tax relief on finance costs for buy-to-let landlords and the uncertainty surrounding Brexit caused both buyers and sellers to hesitate for much of 2017 which slowed activity.

Data for the first 10 months of 2017 suggest that transaction numbers across Greater London were around 13% down on the 2016 figure, although this figure was distorted by the highest ever number of sales in March as buyers sought to beat the introduction of the stamp duty surcharge on second properties. A more comparable analysis would suggest around a 5% drop.