"Safe Haven" Status Driving the Rates of London’s Major Properties

According to a report issued by Development Securities PLC and a study conducted by Fathom Consulting, it has been found the desire to purchase a home in a safe location is driving the London real estate market forward. This has further resulted in an historical increase in the prices of homes in some of the major residential properties of London.

The report revealed that since 1995, as much as 75% of the rise in London property values (as compared to the remaining areas in the UK) can be attributed to the fact that properties are completely safe here. Besides, at a time when the UK’s economic condition is not very impressive, prime central London home prices are a record 6 times higher in comparison to the rest of the country.

In essence, the Sterling’s current value, equity prices applicable globally and the safe status of London are the three major reasons behind the growth of London’s major property markets. Of these three reasons, the fact that London is a safe haven for investing in properties has been a major reason why property prices have increased so much in the city. This ‘safe haven’ factor has lifted the price of London properties by over 30% in comparison to the rest of the England since 1995.

The report also stated that foreign money accounted for around 60% of acquisitions in terms of value between 2007-2011 and it is because of overseas property buyers that the prices of homes in London have risen to such an extent. Consequently, over half of the residents of Chelsea, Kensington and the boroughs of Westminster are from overseas. So, if you are a property seller in London who wishes to Sell Your House Fast, now is the right time to approach a cash rich property buyer. Property sellers outside London can approach a Property Buying Company and enjoy a fast house sale in case they cannot find buyers easily.

Home Prices Witness a Massive Increase in UK’s Attractive Locations

In research conducted by Lloyds TSB, the company has revealed that property buyers in the UK are willing to pay higher prices in order to acquire properties with picturesque surroundings and alluring locations. The value for such residential homes has increased by 87% (i.e. £109,355) over the last ten years, from £125,860 in 2002 to £235,215 in 2012. This clearly implies that people who own a home located in attractive locations have witnessed the value of their house rise by over £911 on a monthly basis for a period of a hundred and twenty months consecutively.

In essence, five primary areas boasting of natural surroundings have seen their home prices hit double in the past ten years. Out of these 5 areas, Solway Coast located in Cumbria registered the biggest increase of around 124.5% over the past decade.

On the other hand, Northumberland Coast witnessed an increase of 123.8%, and was marginally behind Solway Coast. Other areas where the prices of homes shot up remarkably included Kent Downs at 115% and the Forest of Bowland (situated in northern England) at 107%. Surrey Hills was the most costly area with natural surroundings to live in England. Here, the average cost of a home was around £407,568, followed by High Weald at £329,441 and Kent Downs at £320,090.

This is evidence enough to state that homebuyers in England are willing to pay a premium for homes surrounded by beautiful and picturesque scenes. This is certainly great news for homeowners who own a residential property, which is surrounded by natural and scenic beauty. They can sell their house to rich cash home buyers and enjoy a Quick Property Sale.  So, if you have been thinking “I need to Sell My House Fast”, now is the time to put your property on sale and indulge in a fast property sale.

UK Government to Levy 15% Stamp Duty and CGT on Homes Valued Above £20m in London

In view of the fact that rich property buyers in London were easily acquiring tax free properties in London through offshore companies, UK’s Chancellor George Osborne has intervened and clarified that the government would be levying a 15 percent stamp duty charge on homes valued over £2m that are purchased or disposed off through companies.

The government will also extend the Capital gains tax (CGT) net so any house sold via an offshore company is taxed at the usual rate. What is important to note here is that at present non-UK residents are not paying any CGT at all. In addition to this, the government will also levy a new charge on an annual basis on homes purchased via companies. This charge would be approximately £15,000 for homes valued at over £2m. However, this will increase to £140,000 for homes priced above £20m.

Non UK residents who purchase homes via off shore companies will have to deal with the UK tax authorities as well. Prior to this, a Property Buyer who was purchasing a home via off shore companies in this manner was paying very little to own a property in London. The only cost that the buyer was paying came in the form of council tax, which was easily payable.

However, this particular legislation will change the scenario completely. Though property buyers will continue to enjoy inheritance tax benefits, these new charges will definitely put things back in order. So, if you are a property buyer who is willing to purchase a house valued over £20m pounds in the UK via an off-shore company, now is the time to act. On the other hand, if you are a property seller and want to Sell Your House Fast, approach a property buying company today. They can fetch you the right price for your property and assist you with a fast house sale.