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Sales Market Comment January 2015

By Eitan Fox  //  Fri 23rd January 2015
Well the early indications for 2015 is that the market has just maintained this trend and that it is business as usual.
When predicting market trends for 2015 and looking to the future often the best way is to look back to the last major issue that may affect the following year.

In this case we only have to look to the 3rd of December 2014 when the Chancellor of the Exchequer altered the Stamp Duty Land Tax. Quite simply no one saw it coming and the initial repercussions were one of panic and confusion.

However the human race adapts to change pretty quickly and similar change in property tax laws have taken effect before, both here in the UK and overseas and certainly the prime central London market has shrugged it's shoulders and just got on with it.

Well the early indications for 2015 is that the market has just maintained this trend and that it is business as usual. We have already received a record number of offers on our property from people hoping to secure a prime central London property.

There is no doubt that vendors with properties over £1,25 million may find that they are involved in harder negotiations and values for certain property will have to adjust but overall this will only bring stability to the market and we could see improved market sentiment through the year.

If you are considering selling your property my advise is that like any market place change is always certain and there is little to be gained in delaying action.

Ultimately,the London property market remains underpinned by on going low interest rates and an enviable economic climate.

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