Blog Post No.88
Central London Market Update 2022
30 / 03 / 2022
Join us for commentary on the property market trends for 2022. Local agents share their experiences and views on what is happening, what is the focus for buyers and sellers right now and changes in the international market with regards to Prime Central London areas.
“What we are seeing in the market at the moment is that it is full of very good buyers but short on stock as there is a lot of pent up demand from last year. The gulf between the good and the very good in terms of stock has widened considerably and people are willing to pay more for “best in class” properties. ”
“What sustains prices is the shortage of supply. I personally think that we’ve got an artificial shortage of supply which could easily be resolved by dropping Capital Gains Tax. If the tax was dropped to a more reasonable level, then people would be more inclined to sell and this would create a more fluid market. Stamp Duty is also an unfairly high tax and the net effect of this is it limits the number of transactions, which means less tax coming in overall. ”