How changes to Britain’s stamp duty scheme affect Middle East property investors

Chancellor Rishi Sunak has officially announced plans to launch a stamp duty holiday for UK property buyers, in a bid to boost the market.

However, all good things do have to come to an end, and after 31 March, the holiday will end and overseas buyers will have to pay an additional 2% surcharge on stamp duty.

“Basically you are paying an extra 5 per cent as an overseas buyer,” Black Brick’s Camilla Dell summarised in a new The National News article. “This is because they must pay the 3 per cent for buying a buy-to-let or second home as well as the additional 2 per cent.”

Post-pandemic city exodus? These property hotspots are bucking the trend

“City living has suffered during the pandemic, but some village-like pockets have thrived”, writes Liz Rowlinson of The Telegraph this week.

This new piece focuses on the impact that the pandemic and subsequent lockdown has had on our communities here in the UK, reflecting on how many of us have began to “embrace a more local way of life”.

Sharing her insights into how this culture-shift has impacted the property sector, our Founder and Managing Partner, Camilla Dell commented: “Buyers that might have bought in central London have been looking at Richmond-upon-Thames, Kew, Wimbledon, Chiswick, Hampstead, East Sheen and Dulwich. Access to parks has become more crucial.”

Read more in the full article here.

Village feel and green appeal lure homebuyers to Dulwich

As people continue to yearn for community, property prices in pretty suburbs like Dulwich are on the rise.

As buying agents for London and the wider UK, this is certainly something we’ve noticed over the past year here at Black Brick. Sharing his insights into the topic this week in The Financial Times, our buying partner, Caspar Harvard-Walls commented:

“It’s so popular at the moment because we’ve seen this real need for a sense of community — a high street and outside space. People want to be a part of the area they’re moving to. They want to know people on their high street — who the butcher is, say hi to the guy they get their coffee from.”

From private chalets to penthouses: property trends for the ultra rich in 2021

What does the future hold for London prime property in 2021? Our Founder, Camilla Dell shares her thoughts in a new piece for The Telegraph.

Whilst 2020 was all about escaping to the country, Camilla shared that she believes 2021 will be the opposite: “Half of them stayed commutable in the Home Counties. The other half moved to Somerset, which is risky if you are suddenly called back to your desk at 8am tomorrow,”.

With many not actually having sold their properties in London, and instead just buying 2nd home country houses, Camilla expects that in 2021, “the masses will flood back to the city,”.

Read more in the full article here.

The year the UK housing market defied gravity

This past year has been a roller coaster for the housing market here in the UK, to say the least.

As the year draws to a close, our Founder, Camilla Dell has been featured in The Financial Times to share her insights and thoughts on what the luxury London property sector has been like in 2020, and what the future may hold for 2021.

“This time of year people are always drawn to the portals for some good old ‘property porn’ — and perhaps this year more than ever as, let’s face it, there isn’t much else to do,” Camilla said. “But, whether this will translate into a flurry of new transactions in the new year remains to be seen. I think a lot of people wanting to make a move this year already have.”

Read more in the full article here.

Property market predictions for 2021 – what can we expect?

As 2020 draws to a close, we’re shared our predictions for the 2021 UK property market in Property Investor Today!

Black Brick’s Founder and Managing Partner, Camilla Dell, alongside buying partner Caspar Harvard-Walls, featured in the article sharing their expectations for next year’s property sector.

A key suggestion made was that “being green will overtake being swanky” next year in property, as people increasingly look for properties that are environmentally conscious.

UAE residents can still access UK mortgages post-Brexit

In a new article this week by The National, it’s been revealed that UAE residents looking to buy property in the UK after the country exits the EU can continue to sign up for expatriate mortgages.

It comes after Santander announced it would bar applications from non-residents.

As a leading property buying agent for London, Black Brick’s Camilla Dell shared her perspective on the subject of Middle Eastern investors in UK property, featuring in the article as expecting more lenders to follow in Santander’s footsteps.

“There are still lots of options for expats and international buyers, particularly in the HNW (high net worth) space where Private Banks can take a more flexible approach,” Camilla added.

“The treatment of UAE or Middle East-based clients has not changed markedly for some time and Brexit should not affect this as these clients are clearly outside of the eurozone. EU nationals who recently moved to the UK or are primarily resident in their home countries will be the most affected by these rule changes.”

Read more in the full article here.

Biggest property bargains on offer since financial crisis in London’s most expensive postcodes

As prime property prices in London drop to their lowest level in seven years, Black Brick’s Camilla Dell shares her thoughts in a new piece for The Telegraph.

She reflected on how the number of PCL properties for sale do not match up with the number of sales agreed, as overseas buyers continue to be restricted from the country amid the pandemic-induced global lockdown.

As a result, Camilla shared there had been property bargains that hadn’t previously been seen since the financial crisis: “This time, it’s even better because there are fewer buyers around to compete with. There are not many moments I’ve seen where you can get these kinds of deals.”

Read more in the full article here.

Lack of overseas buyers hits London’s prime property

London’s not getting much hype right now with its usual array of cultural events and activities put on hold until the pandemic is over.

“It’s clear that the buzz and many of the things that make London great are just not there right now”, Black Brick’s Founder, Camilla Dell commented in her feature for The Financial Times this week.

Reflecting on the pandemic’s impact on London’s prime property market, Camilla shared how, in recent weeks, the popularity of London’s greener suburb regions like Richmond and Hampstead had surpassed that of the ‘golden’ postcodes in Belgravia, Knightsbridge and Kensington.

“When we do viewings there, it’s clear that the buzz and many of the things that make the city great are just not there right now,” says Dell. “But it’s too early to say whether the shine has gone off London as an investment.”

Read more in the full article here.

Footballers turning to hotels as coronavirus shrinks supply of pricey rental homes

“Footballers in the Home Counties are having to move into hotels ahead of the new season as the supply of high-end rental homes has dried up”, writes Melissa Lawford this week in The Telegraph.

For a take on the situation in London, Black Brick’s Camilla Dell shared that landlords who have recently renewed tenancy agreements in the capital have had to accept 10pc and 20pc rent reductions, adding that “Flats without outside space are faring the worst,”.