Moshe Moses, Partner in the Residential Real Estate Team, was recently featured in a Telegraph article discussing how rumours from the latest budget regarding council tax and stamp duty have slowed activity in the housing market.
Moses stated that Seddons GSC had “unquestionably seen a slowdown” in new transactions, explaining that “This has been most pronounced at the top end of the market – anything in the £2m-plus bracket – where new instructions have dropped noticeably. We work daily with agents and property professionals across all areas of prime central London, and the hesitancy is certainly evident across the market.”
Despite this, Moses did advise that he has seen an increase in deals being agreed in the past few days. “We suspect this is because buyers now feel comfortable agreeing terms in the knowledge that there is no risk of being required to exchange before the Budget, meaning they can walk away with minimal cost or liability if the landscape shifts,”
Read the full piece, here.