The Americans Are Coming

Written by Andrew Ellinas LL.B.

Thursday, 13 December 2012

London could see an influx of top American bankers next year, when President Obama's tax hikes for the rich begin to bite in the US and Chancellor George Osborne's cut in the top rate of income tax comes into force over here.

Obama is preparing to allow a raft of tax cuts introduced as a temporary measure by George W Bush to lapse as part of his ongoing war with Republicans over the budget deficit. As a result, the top rate of federal income tax will rise from 35 per cent to nearly 40 per cent, possibly as soon as the new year.

Prime Property Prices Stabilise

Written by Andrew Ellinas LL.B.

Wednesday, 31 October 2012

The prime central London property market is stabilising after a period of growth, according to the latest batch of figures.

According to the Land Registry, price growth in the City of Westminster slowed slightly last month to 1.3 per cent, but as that translates to an annual growth rate of a very healthy 17.4 per cent this cannot be seen as a cause for concern.

Property Prices Rise by over 18%

Written by Andrew Ellinas LL.B.

Friday, 5 October 2012

Property prices in the City of Westminster rose by an astonishing 18.3 per cent in the year to August, according to the latest figures from the government Land Registry.

The increase is the highest in the UK by a very long way, and justifies the interest in prime central London that has been shown by investors from around the world through the thick of the global financial crisis.

Rental Stock Increases

Written by Andrew Ellinas LL.B.

Wednesday, 12 September 2012

High rents have persuaded many property owners to remove their flats and houses from the sales market and let them out instead.

The resulting shortage of properties for sale has helped maintain central London prices - some figures estimate the drop in the supply at as much as 30 per cent.

Sandfords in Primrose Hill

Written by Andrew Ellinas LL.B.

Friday, 27 July 2012

Sandfords has opened a new office in Primrose Hill, bringing the combination of deep local knowledge and international connections that has been so successful in the area from Oxford Street to St John's Wood. The new branch handles both sales, managed by Simon Halliday, and lettings, under the direction of Julia Garber.

According to Simon Halliday, the main appeal of the area is its community spirit. "The big feature is the open space and the sense of a village community. There is only one street in and one street out, so there is no through traffic. There is a wonderful high street with bespoke shops and no chains. There are wonderful schools.

Central London property rockets ahead

Written by Andrew Ellinas LL.B.

Monday, 14 May 2012

The property market in central London is continuing to motor away from the rest of the UK, according to analysis of the latest official Land Registry figures.

Prices in London Central (the Land Registry's term for the boroughs of Kensington and Chelsea and City of Westminster) rose by 0.6 per cent in the first quarter of 2012, bringing the rise over the previous year to 10 per cent. For England and Wales as a whole, prices fell by 0.7 per cent on the quarter and by 3.3 per cent for the year.

The only real action is in London

Written by Andrew Ellinas LL.B.

Monday, 30 April 2012

The only real action in the London property market is now in properties worth more than £2 million, according to the banking and mortgage giant Lloyds TSB.

Sales worth more than £2m grew by 9 per cent in 2011 but sales of properties worth £1m were static.

Nothing illustrates better the fact that in central London a million pounds buys you a fairly ordinary family home, not a palace.

Budget 2012

Written by Andrew Ellinas LL.B.

Wednesday, 21 March 2012

The Chancellor of the Exchequer's attempt to punish people who buy mansions through specially set-up companies may, paradoxically, benefit the London property market below the £2 million price level.

Many properties owned by corporations are not homes but investments intended for renting out. However, letting properties at this rarified level does not yield particularly impressive returns and the new tax will make many such investments very marginal indeed.

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