Wednesday, February 24, 2010

More supply in central London? 2nd homes coming into play

Investors rush to sell ahead of possible CGT rise

Slightly old article (Feb 23rd) in FT saying that many investors might sell before the end of the tax year to avoid potential increases in capital gains tax. Perhaps a non-story if these tax rises fail to materialise, but interesting scenario. Also, I wouldn't have thought that 60% of central London are 2nd homes!

Posted by notyethomeless @ 02:05 PM (1152 views)
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7 thoughts on “More supply in central London? 2nd homes coming into play

  • Why on earth didn’t Brown call election for December/January. Has to be the worst political strategist in history, unless of course if austerity is what the bankers want, and he decided to throw the election? Maybe he racked up that debt on purpose to get us slaving to the bankers. Expect a top job in Goldman, et al for after he looses his job, as Blair got.

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  • Why on earth didn’t Brown call election for December/January. Has to be the worst political strategist in history, unless of course if austerity is what the bankers want, and he decided to throw the election? Maybe he racked up that debt on purpose to get us slaving to the bankers. Expect a top job in Goldman, et al for after he looses his job, as Blair got.

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  • 60%… At least! I lived in three different flats in Victoria over 6 years and at the weekend it was pretty void (except for the station of course).

    FMP: Goldman et al wont want him for either his economic insights nor his political connections… I think it’ll be the standard lecture circuit for him.

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  • It’s interesting that, despite numerous opportunities, GB hasn’t been replaced. I can only think that cohorts like the Millibands, the Balls and Harriet Harman, and of course Mandy, all are content to let him continue with his scorched earth policies. Their thinking being that they are all young enough to “come to the rescue” when it all proves too much for any party. I would expect GB to be replaced soon after he loses the election.

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  • @notyethomeless,

    In zone 1 London, a lot of flats are owned by weekday-only users. I guess they are the ones who make up the 60%.

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  • People are leaving London, why would you stay? It is a dump of the worst order and the quality of life is terrible. It has jobs though, but when the accomodation is more than the job money…

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  • “60 per cent of the properties in Central London are second homes or buy-to-let investments”

    Imagine the intrest behind this 60 per cent and 18% on capital gains tax sounds like an off shore tax treatment when the rest of busineses have to pay 50%.

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