Send us a text

The UK property market is experiencing renewed growth, with Zoopla forecasting a 2.5% rise in property prices for 2024 and 1.1 million sales expected. Cities like Manchester and Liverpool are leading this surge, particularly attracting buy-to-let investors. Zoopla's report also notes the market's increased stability, with a balanced rise in both seller activity and buyer demand, making it a favorable time for investment.

London's luxury real estate market is thriving, driven by wealthy Americans seeking refuge from US social and political issues. This influx has doubled sales within six months, making Americans the primary buyers in this otherwise sluggish market, with a significant increase in their market share.

The debate on wealth taxes is gaining attention as Labour's union backer, Unite, calls for a tax on the top 1% to fund public sector pay raises. However, historical evidence from Europe suggests that wealth taxes may not be effective, often driving out wealthy individuals without achieving intended revenue goals. In the UK, the top 1% already contributes significantly to tax revenues, and adding a wealth tax could have negative economic consequences.

The UK short-term rental industry is lobbying against proposed changes to the Furnished Holiday Lettings (FHL) tax regime, which the government plans to abolish by April 2025. Industry associations warn that this move could harm the domestic self-catering sector, particularly in rural and coastal areas. They are advocating for a delay in implementation and a more balanced approach to the regulations.

In corporate news, significant shareholders in PRS REIT, a London-listed investment trust, are challenging the boardroom leadership, seeking to oust Chairman Stephen Smith and push for a strategic review that could lead to the sale of the company. Dissatisfaction stems from the recent extension of PRS REIT's management agreement, which some investors view as unnecessary. This boardroom challenge highlights broader concerns about corporate governance within the real estate investment trust sector.

PROPERTY WEALTH - Transforming challenges into opportunities with specialist knowledge and reach. Explore the complexities of the London property market with us—insights, advice, and connections at your fingertips.

Join the conversation! Share your thoughts and questions in the comments below.

Don't forget to follow us for the latest updates and expert advice! https://www.londonproperty.co.uk/en/link-in-bio/

#PropertyWealth #LondonProperty #RealEstate #PropertyMarket #Investment #HomeBuying #HomeSelling #PropertyAdvice #RealEstateTips #PropertyInvestment #LuxuryLiving