Ever since Sir Keir Starmer stepped into the Downing Street garden and issued a warning that the forthcoming budget would be “painful”, commentators have been predicting a whole range of possible tax raids, writes Camilla Dell.
Inheritance tax (IHT) changes could penalise older homeowners and create a form of “social engineering” for downsizers, a buying agent has warned.
Sarah and her husband Jack live in a leafy part of south-west London, own a holiday home on Spain’s Costa Brava and send their two young daughters to private schools. They work hard – Sarah is in PR and Jack is a cryptocurrency trader – and are well paid. Yet they want out of the UK.
The phones of London’s high-end estate agents have been ringing overnight. Enquiries from anti-Trump Americans to rent trophy homes on London’s most prestigious streets started to come in during the early hours of Wednesday morning as a Donald Trump victory seemed inevitable.
Tilly Bagshawe, 51, and her husband Robin Nydes, 67, are in a race against time to complete the sale of their £2.85 million “dream” Cotswolds second home.
London’s most expensive homes are having a tough time selling, with both demand and deals down.
Second homes have never been so popular. Before lockdown, just 3 per cent of Britons had a retreat in the countryside or the coast – somewhere to recharge the batteries.
Young professionals are “flocking” to the West Country, says buying agency Black Brick – which set up a Coast & Country division earlier this year to tap into the movement.
Investing in property is a daunting process that is both meticulous and time-consuming. From exterior to interior and everything in between, all of the changes and intricate details of your house contribute to the big jar of property value.
At one time, the £32 million ($42 million) deal for a home in the trendy Notting Hill district would’ve raised few eyebrows among London’s high-end brokers, who have seen dozens of similar purchases over the past decade. But amid a slump in luxury transactions this year, the sale stood out — as did the nationality of the buyer: he’s American.
Once the preserve of the wealthiest, these specialists are now being sought out across the property spectrum.
Listed homes are worth 50 per cent more on average than unlisted ones — but buyers should be aware of the extra costs involved and hidden dangers.
