Mo­men­tum lost in prime mar­ket

Buckinghamshire Advertiser - - HOMES-SOUTHBUCKS.CO.UK -

THE lat­est statis­tics from our in­dustr y lead­ing re­search depar tment have in­di­cated that the prime re­gional and coun­try house mar­kets have lost some of the mo­men­tum seen in the first half of this year.

De­spite an im­prov­ing econ­omy out­look, the cur­rent mar­ket sen­ti­ment is be­ing at­trib­uted, in par t, to the ef­fect of the higher rates of stamp duty in­tro­duced in 2012, specif­i­cally at the £2mil­lion mark, and has been com­pounded over the sum­mer months by the Scot­tish ref­er­en­dum and on­go­ing po­lit­i­cal dis­cus­sions sur­round­ing man­sion tax.

“The spec­u­la­tion about in­ter­est rate rises and pre-elec­tion rhetoric around a man­sion tax and other ways to tax high value homes, will sup­press the po­ten­tial for fur ther growth in the shor t-term, even though the un­der­ly­ing fun­da­men­tals of the mar­ket re­main sound.

“As a re­sult, ven­dors who want to suc­cess­fully sell will need to re­spond with re­al­is­tic pric­ing.

“How­ever, those se­ri­ous about buy­ing can still pur­chase, safe in the knowl­edge that the prime mar­ket in Bea­cons­field and its en­vi­rons of­fers in­cred­i­bly good value rel­a­tive to London and this will drive price growth over the longer term.”

“The mar­ket for proper ties priced be­tween £500,000 and £1.75 mil­lion re­mains strong, with con­tin­ued in­ter­est from those mi­grat­ing out of London and a por tfo­lio re­flect­ing some ex­cel­lent qual­ity stock cur­rently avail­able.”

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