Steady As She Goes

Written by Tim Fairweather

Tuesday, 13 July 2010

The property market in Marylebone and Regent’s Park is holding up well, with transaction levels at least 25 per cent up on last year and prices remaining firm. The supply of good quality properties remains short, contrary to reports in the media of a flood of sales forcing prices down.

Prime central London is different from the rest of the UK property market because it attracts wealthy overseas property buyers and is also sustained by people working in the financial sector who are now seeing renewed growth and higher incomes. But it isn’t that different, so the disconnect between gloom in the media and the situation in the real market as we are experiencing it is striking.

Teenage Cancer Trust

Written by Andrew Ellinas LL.B.

Monday, 5 July 2010

We have just received a lovely letter from Teenage Cancer Trust:

On behalf of everyone at Teenage Cancer Trust we would like to say a huge thank you for all your support at the Marylebone Summer Fayre on 13th June 2010.

It was a thoroughly enjoyable day and the entire event has raised over £13,000 so far, with more money coming in, which is fantastic! We rely on the support of individuals and businesses like you to help raise the profile of the charity and generate the funding we need to build and support new specialist tennage cancer units in NHS hospitals. Our aim is to give every young person with cancer access to a unit by 2012 - which means we have to open another 13 units in the next two years.

Rented Properties On The Rise

Written by Julia Garber MARLA

Wednesday, 30 June 2010

The shortage of mortgage finance is pushing rents up, as would-be home owners are forced to rent because they cannot borrow enough money to buy.

According to the latest Rental Index, average asking rents in London rose 2.6 per cent over the past quarter and are now 6.4 per cent higher than a year ago.  The number of properties available to let in London fell by 4 per cent in the last quarter alone, putting extra upward pressure on rents.

The Emergency Budget

Written by Andrew Ellinas LL.B.

Wednesday, 23 June 2010

The Chancellor of the Exchequer has missed the opportunity to reform the property market in the emergency budget. The tinkering with capital gains tax, while not as damaging as we feared, will do little to help people buy the homes they need or invest in property to rent out.  Meanwhile, stamp duty land tax with its market-distorting artificial bands remains in place, and the opportunity to reintroduce taper relief on investments has been missed.

The Marylebone Summer Fayre 2010

Written by Andrew Ellinas LL.B.

Sunday, 13 June 2010

Well, thankfully the rain held off and the sun shone for most of the day.  Once again we set up our stall at the Marylebone Summer Fayre, not only so we could take part in this wonderful annual event but also to raise money for the nominated charity, Teenage Cancer Trust.

We gave away free Pimms in return for a donation to the charity and by mid-afternoon had used 40 litres of Pimms and nearly 200 litres of lemonade.  A big thank you to all our people who gave up their precious Sunday to come and help and, of course, to everyone who 'bought' a Pimms.  We're still counting the money and have our fingers crossed that it will be more than last year.

There May be Trouble Ahead

Written by Andrew Ellinas LL.B.

Friday, 4 June 2010

Abolition of the Home Information Pack provided a welcome fillip to the property market, but if plans to raise Capital Gains Tax goes to 40 or even 50 per cent are implemented it would smother the recovery before it even gets properly started.

Thousands of investors and second home owners who bought in the 1990s or even earlier were relaxed about the 2008 property slump because they could still look forward to a reasonable increase in the value of their assets. If CGT goes up as much as is rumoured, many will try and sell up before the rise comes into force, an increase in supply that would eliminate the gains we have seen this year.

Rent Rise Ahead

Written by Julia Garber MARLA

Monday, 24 May 2010

The latest figures for construction of new homes make grim reading for people hoping to buy or rent a place this year, but property investors who have had a long period of famine can now look forward to a better future. In short, it means rents are likely to go up.

According to the Department for Communities and Local Government, Britain is building less than half the number of homes that we were in the peak in March 2007, although the trend is now on the way up. And remember that even in 2007 the housing shortage was a matter for very considerable concern.

HIPs are history

Written by Andrew Ellinas LL.B.

Thursday, 20 May 2010

The new government has moved surprisingly quickly to abolish Home Information Packs or HIPs, which should help to loosen up the market by allowing owners to offer their houses and apartments with the minimum of hassle and expense. The fear is that these experimental vendors will not really be serious, but at least they will help to establish a better idea of the true prices of properties in any particular area.

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