Keith Gorny, director of estate agent Marsh & Parsons, commenting on the impact of the City bonus ‘supertax’ on the London prime property market
"It is vital for the whole of London’s economy that the city remains a competitive global financial centre. London developed its world status over a number of years by providing a stable and predictable tax environment - the Chancellor’s recent bonus tax undermines this hard earned reputation. Should institutions and individuals depart in preference for other financial centres this will harm the economy as a whole and the subsequent drop in demand for high end London housing will see the market soften. We have already experienced concern amongst potential buyers for the uncertainty this move on bonuses has created. The housing market hates uncertainty."
For further information please contact:
The Wriglesworth Consultancy Tom Urpeth / James Staunton 0207 427 1440 / 0207 427 1400
Marsh & Parsons has been part of the London property scene since 1856. The sales and lettings agent has 14 offices situated in prime positions across central, west and south London. They have an intimate and extensive knowledge of the area.
Marsh & Parsons are an independent and professional firm with a 'can-do' attitude covering all aspects of residential property. They aim to establish individual relationships with clients through a business built on energy, agility, professionalism and knowledge. Their business aim is to be the agent who not only understands the local area around their offices better than any other agent, but also to be at the heart of the community.
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