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Sales Market Comment Winter 2015

By Eitan Fox // Wed 2^nd December 2015

There has been vastly improved activity in the prime Central London property market in the Autumn period.

I am pleased to report that there has been vastly improved activity in the prime Central London property market in the Autumn period.

This has been due to the logjam of investors who delayed in buying property in prime Central London over the summer finally investing their money, along with some vendors eventually correcting their prices.

We anticipate that this trend will continue, if vendors continue to lower their expectations and accept that the world is a different place today compared to twelve months ago.

The big news is the ‘Autumn statement’ by the Chancellor, George Osbourne, and that from April 2016 and properties purchased as buy to let or second homes will be subject to an increase of 3% stamp duty on the existing rate of SDLT.

The impact of this in the long run is to be considered but short term my prediction is that many investors and buy to let Landlords will look to increase their portfolio from now to the first quarter of 2016.

I anticipate greater activity than normal with positive results.

Sales Director (Knightsbridge)

I started at Plaza Estates in 1986. Eleven years were spent successfully running the Marble Arch office. Subsequently, I was asked to take on the exciting challenge of running the Sales Department in our Knightsbridge office. I have built an experienced team with the ethos that local knowledge, hard work and professional service will always provide success to our clients. With ever changing technology of which Plaza Estates are at the cutting edge of, I have often been asked, with over 30 years in the business, how I retain my enthusiasm? I am delighted to say many of our multi million pound clients are genuinely my friends and I have a great passion for people. My staff and I never forget that this challenging industry ultimately is a 'Peoples Business'. Therefore I would welcome the opportunity to help you with your property needs and hope you will allow our fully equipped and motivated team to provide you with their professional assistance.

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