NEWS OF THE WEEK: Mansion Tax scrapped after PM vetoes the idea

The government will not announce a Mansion Tax at next month’s Budget.

Estate agents and Conservative politicians criticised the idea, and it has now emerged that Sajid Javid - the former Chancellor who resigned on Thursday - had been told by a senior backbench MP prior to the Cabinet reshuffle that many Tories were up in arms at the prospect of such a tax.

https://www.estateagenttoday.co.uk/breaking-news/2020/2/mansion-tax-scrapped-after-pm-vetoes-the-idea

NEWS OF THE WEEK-

New research shows that 77 per cent of consumers use portals to conduct property searches - meaning, surprisingly, that almost a quarter of buyers do not use them.

Another unexpected statistic is that some 59 per cent of agents use portals as their primary marketing tool; suggesting the other 41 per cent do not.

These are the findings of a major study conducted by Zoopla.

It says that its recent State of the Property Nation survey - which involved speaking with 6,000 consumers and over 650 agents across the country - revealed that some 12 per cent of house hunters now using Facebook to browse for homes, a 50 per cent increase from the same time a year ago.

It says that 53 per cent of the agents surveyed are also set to beef up their digital and email marketing with nearly two thirds also planning to make more use of social media.

Email remains the communication method of choice for consumers, however, with the survey revealing that 47 per cent of those wanting homes to rent or buy set up email alerts via portals.

Perhaps unsurprisingly, email alerts are most popular with Londoners where over six in 10 are signed up.

Portals remain important to agents and house hunters alike with almost six in 10 of agents surveyed using them as their primary marketing tool.

Amongst consumers, 77 per cent use portals to conduct their property search.

Particularly popular with renters and buyers, two thirds of leads now originate from a property portal, according to the agents surveyed.

https://www.estateagenttoday.co.uk/breaking-news/2020/2/77-of-buyers-use-portals-and-growing-numbers-search-via-apps

NEWS OF THE WEEK: Government considers Mansion Tax on High Value properties

https://www.estateagenttoday.co.uk/breaking-news/2020/2/mansion-tax-on-high-value-houses-being-considered-by-government

QUESTION OF THE WEEK: My tenants have 6 months remaining on the contracts, but I want to sell. Is the market active for such properties with sitting tenants and should I sell now?

SALE OF THE WEEK: Probate Portfolio of properties, 1 beds, on short leases, in need of refurbishment, lots of capital upside and opportunity to add value. Two flats in Kensington, one in St.John's Wood and one in Earl's Court. Great investment opportunity for developers and cash-buyers

Your weekly London Property show presented by your experts Marius Nazare & Chris Mulry - Episode 012  1) NEW OF THE WEEK: New property listings down by almost 9,000 as the Boris bounce takes its time: https://propertyindustryeye.com/new-p... 2) NEW OF THE WEEK: Online agencies fail once again to push market share above five per cent: https://www.estateagenttoday.co.uk/br... Agents must educate sellers about realistic prices, says Zoopla: https://www.estateagenttoday.co.uk/br... 3) SALE OF THE WEEK: Property near Albert Hall Mansions, off market sale, sold within weeks since getting it on, seller was thinking of putting it on the market but we sold it, 3,000 sqft, development opportunity, great amount of equity to sell for record £ per sqft once refurbished  4) QUESTION OF THE WEEK: "I am looking to buy a property near Hyde Park, do I pay a fee to an estate agent to buy property here?"

Conservative party plan to charge overseas buyers a Stamp Duty surcharge of 3%. Is this the beginning of the end of Section 21 notices and what will it mean for the private rented sector? Sale of the week - The Water Gardens. Question of the week - "What makes a good investment?" New Listing of the week - Trevor Place, Knightsbridge SW7

Your weekly London Property show presented by your experts Marius Nazare & Chris Mulry

There is a chronic lack of supply in the market, on-top of this new instructions are few and far between. Prime London property prices are expected to rise. Your question answered-Why do I have to pay service charge and what does it usually include? Sale of the week - Maitland Court https://www.cluttons.com/residential-property-sales/4-bedroom-apartment-for-sale-in-maitland-court-bayswater-london-w2/4096 Hot listing of the week-Paddington Gardens https://www.cluttons.com/residential-property-sales/3-bedroom-apartmentnewhome-for-sale-in-paddington-gardens-hyde-park-london-w2/4740 You can also follow us on YouTube- https://www.youtube.com/channel/UC2SYIgQY-0r89pMg8HLv18Q

Connect with us on Social Media:

Podcast on Spotify: https://open.spotify.com/show/4OuQdLcD5wujVyM2Czc4RM?si=6rI137SUSOi7NNtVBya4Yw

Podcast on Apple: https://podcasts.apple.com/gb/podcast/london-property-podcast/id1487479493

Instagram: https://www.instagram.com/londonpropertypodcast

Marius' Instagram: https://www.instagram.com/mariusnazare/

Chris' Instagram: https://www.instagram.com/chris_mulry_property

Marius' LinkedIn: https://www.linkedin.com/in/mariusnzr/

Chris' LinkedIn: https://www.linkedin.com/in/chrismulry/

DISCLAIMER: This podcast is produced for information only and should not be relied upon as professional advice. The London Property Podcast accepts no liability or responsibility for direct, indirect or consequential loss arising from the use of reference to or reliance on this podcast or this content. The London Property Podcast accepts no warranty for the accuracy of the information in this podcast.

The views, thoughts and opinions expressed in this podcast, belong solely to the authors and not any external organisation or individuals.