The (not so) quiet Americans snapping up Britain’s best homes

Rich buyers from the US don’t care so much about UK politics, they’re happy to pay premium for the best of our country’s properties.

“None of [our American clients] are really talking to us about a Labour government or the general election and how that may impact them,” Camilla Dell, Founder of Black Brick, told The Times this week. “Some of them have been talking to us about Donald Trump, saying that if he gets elected [in the US] they’re going to think twice whether they want to stay there or even come here permanently. But others think Trump is good news for anybody in America who’s got money.”

Read the full article here.

Should you sell your house on social media?

Writing in The Times this week, Black Brick Founder & Managing Partner, Camilla Dell shares her thoughts on the recent trend of listing properties for sale on social media.

“This week alone I must have been sent a dozen invitations to champagne-fuelled property launches. The last time I was being sent this sort of invitation was before the financial crisis.”, she revered.

“The properties I see pop up on my social feed are often overpriced or compromised, or both. Sometimes they have been on the market for long periods, with various agents pushing them on their feeds with slightly different shouty loud music.”

Read the full article here.

How to secure your dream home at a price you can afford

In our latest feature in the press, Black Brick Founder & Managing Partner, Camilla Dell features in The Standard to offer her advice to home buyers looking to get the best deal for their budgets.

“Understanding why someone is selling is crucial to understanding how far you may be able to push negotiations,” Camilla said. “Do they have a mortgage on the property? How long have they been trying to sell for? What offers have they received previously (if any)?”.

She also added: “Have you told the seller why you want to buy their home? A personal touch can go a long way sometimes, think about including a note on why you love the property when you formally submit an offer.”

What does the end of non-dom status mean for the prime property market?

With the news of non-dom tax regime abolition, Black Brick Founder & Managing Partner, Camilla Dell featured in PrimeResi this week to share her thoughts, alongside a panel of other experts in prime central London property.

The key consensus? The are no positive takeaways, Camilla concluded:

“There are no positive takeaways with either the Labour or Conservative Party proposed changes to the UK Res Non Dom regime and undoubtedly these changes will cause some UK Res Non Doms to leave the UK in search of more tax friendly jurisdictions and deter some wealthy people from relocating to the UK. Four years simply isn’t long enough for families to settle.

However it remains to be seen what effect the changes will have on PCL property pricing. Quitting the UK doesn’t necessarily mean a property gets sold in the process. And some UK Res Non Doms who have been in the UK for many years and built a life here may decide to swallow the changes as their lives and their families lives would be too disrupted by leaving.”

Read the full article here.

Spring Budget 2024: Housing and property announcements from Chancellor Jeremy Hunt

Instead of relief from stamp duty, the government today has promised to abolish stamp duty relief in their 2024 Spring Budget announcement.

This means that the Multiple Dwellings Relief, which was introduced to those buying more than one house in a single transaction, has now been taken away. Whilst it was initially intended to support investment in the private rented sector, Chancellor Jeremy Hunt said that an external evaluation found “it was being regularly abused”.

Black Brick Founder and experienced property expert of over 20 years, Camilla Dell shared her reaction to this news in The Standard, calling the move “shortsighted”.

“Many of our buy-to-let clients purchase sic or more properties and benefit from lower rates of SDLT as a result,” she said. “They are providing much needed rental supply into the market and without this tax break it is yet another deterrent towards investment into the private rental sector. Not good news for tenants as fewer andlords results in higher rents.”

Read the full article here.

‘Another missed opportunity’: Prime property industry reactions to the Spring Budget 2024

Black Brick buying agency boss, Camilla Dell shares her industry insights and reaction to the 2024 Spring Budget this week in a piece for PrimeResi, alongside fellow property experts and consultants.

Commenting on the reduction of Capital Gains Tax (CGT), Camilla called the news, “helpful and a step in the right direction to get the market moving.”

However, in reaction to the abolishment of Stamp Duty Land Tax (SDLT), her insight found that the change was “shortsighted”, concluding that it was “not good news for tenants as fewer Landlords results in higher rents”.

Read the full article here.

Budget 2024: Prime property’s hopes and expectations

As the time nears for the Spring Budget 2024 announcement, Black Brick boss Camilla Dell shared what she hopes to be revealed in the statement.

Speaking in PrimeResi alongside a host of fellow prime property experts and agencies, Camilla summarised how the luxury property market was feeling ahead of the budget: I think we were all secretly hoping for some good news in this budget as a last-ditch attempt for the Tories to win back some support, but I just don’t see what they can give away tax wise.”

Read the full article here.

Why the UK’s foreign homebuyers will have to pay more tax

No matter which party comes out on top at the next election, the property industry is gearing up for a stamp duty hike for overseas buyers.

Featuring in The Times this week, Black Brick Founder & Managing Partner, Camilla Dell shares that whilst she believes foreign homebuyers will soon have to pay more in stamp duty, she doesn’t think it will be as high as people fear.

For foreign buyers currently, the top rate of stamp duty is 17%. Labour say they would increase it to around 20%, which would mean a hike of between £15,000 to £30,000 for a £1.5 million property. “I don’t think Labour will end up doing it,” Camilla said.

As a buying agency that regularly deals with overseas purchasers, at Black Brick we believe that a rise of 1% point would be “tolerated”. Camilla added: “I don’t think [that] would be too harmful. Some people would think it’s too pricey but in the prime market people can meet the extra costs. It could slow the market, maybe, lead to some softening in prices. Some buyers would say, ‘I’ve got to pay an extra three percentage points, I want 3 per cent off [the asking price].’”

What would be “unacceptable”, Camilla argued, would be the introduction of “draconian measures” like those in place in other countries, such as Canada, which has banned foreigners from buying properties until the end of this year. “[That] would kill the market.”

Read the full article here.

Black Brick buying agency reports ‘busiest-ever’ January as market reignites

We are delighted to be celebrating our busiest January to date this week at Black Brick, with a flurry of deals and a book of clients with budgets ranging up to £25mn.

Announcing the news in PrimeResi, our Founder & Managing Partner, Camilla Dell shared what recent successes our team has had to lead to this huge feat.

Read the article here.

How to beat a cash buyer for a property purchase

Writing in The Times this week, Black Brick Founder and experienced prime property buying agent, Camilla Dell shares her advice to those who are looking to out-bid cash buyers for their next property purchase.

“My first piece of advice is to be organised. Hire a credible solicitor, ideally one that is used to conveyancing in the area or development you are buying in. This gives comfort to the selling agent and vendor that the deal won’t be let down by a poorly performing lawyer.”

Read the full article here.