Get in touch

Speak to us now on live chat

Speak to someone on the phone

We can call you

Send us an email

Go Back

Call us today:

020 8115 4286

If you wanted to speak to a local expert, please go here to contact a specific branch.

Please provide us with the below details and one of our local experts will be in contact.

Please provide us with the below details and one of our local experts will be in contact.

All done

Thank you for providing us with your contact details, one of our local experts will be in contact.

Get in touch
  • Speak to us now on live chat
  • Speak to someone on the phone
  • We can call you
  • Send us an email
Go Back

Please provide us with the below details and one of our local experts will be in contact.

Go Back

Please provide us with the below details and one of our local experts will be in contact.

Go Back

Call us today:

020 8115 4286

If you wanted to speak to a local expert, please go here to contact a specific branch.

Go Back

All done

Thank you for providing us with your contact details, one of our local experts will be in contact.

Contact Sale or no sale? Tempting prices for property

Fill in the form below to get in touch

Sales or Lettings enquiry

Your Details

We will use your data for the purpose of your enquiry. After we have responded, we would also like to send you emails with information on our other products and services, including our regular newsletter which contains special offers, property photos, hot topics and useful tips.
Please tick this box if you are happy to receive this and remember you can change your preferences at any time. If you would like to know more about how we use your data please visit our Privacy Notice here

All done

We received your message. Our expert local team will review your details and get back to you shortly.

If you need any more information call us on

Buy

Selling

Rent

Landlords

New Homes

Land & Investment

Area Guides

Offices

Contact Us

Award-winning customer service

Rated 4.9 out of 5 by our customers

Established in London since 1856

Local know-how, better results

Buy

Selling

Rent

Landlords

New Homes

Land & Investment

Area Guides

Offices

Contact Us

Main Menu

Award-winning customer service

Rated 4.9 out of 5 by our customers

Established in London since 1856

Local know-how, better results

Lander Sudios

Kensal Town, W10

From £495,000

Durnsford House

Wimbledon, SW19

From £500,000

Request Valuation

Sale or no sale? Tempting prices for property

The January sales can turn out a few bargains but can the same be said for the London property market at the
start of the new year? Having faced a number of challenges, including bedding in the 2014 stamp duty changes
at the top end of the market, there was a drop in transactions last year and reduced annual price growth. Then the
Chancellor dropped his buy-to-let stamp duty bombshell in the Autumn Statement, adding 3 per cent to each
banding for these investor purchasers, leaving un-certainty over the effect on the market before the April 2016
deadline for sales at the old rate.

Back to the potential January bargains. There is often a stigma attached to price reductions, says Charlie
Bubear, director at Savills Chelsea, but fundamentally sellers understand that their property must stand out from
the competition for the right reasons. Too small a change wont make a difference, but a sensible reduction can
really pick up the momentum.

Matthew Kaye, partner at Kaye & Carey, recently reduced a property in South Kensington by more than 200,000
to 1.895m to encourage interest. We agreed the sale, which also saved the buyer 24,600 in stamp duty, he
adds.

Figures revealed exclusively to The London Magazine by LonRes show that, of the 3,400 properties currently for
sale in prime London, an astonishing 35 per cent have seen a price reduction since they were first marketed. The
proportion of homes reduced by more than 10 per cent of their initial asking price is highest at over 5m (13 per
cent) with 22 per cent of properties seeing their asking prices reduced by more than 100,000, compared to 11
per cent being reduced by 250,000 or more and 3 per cent with drops of 1m or more.

Peter Rollings, chief executive of Marsh & Parsons, lays the blame firmly at the door of stamp duty rises.
High-end sellers are having to cast off their prices to tempt buyers on board. The supply of homes for sale above
1m has been left high and dry with a reduced stamp duty intake for the Treasury as a result which its now
trying to recoup from landlords with the newly announced higher stamp duty on buy-to-let property.

Martin Bikhit of Kay & Co had hoped that the Chancellor would have rebalanced stamp duty rates so that London
homesellers were not so adversely affected by the huge tax liability placed on purchasers and thus their ability to
sell. It is wrong to assume that everyone actually wants to buy [a property] and the second-home and buy-to-let
markets have pumped a huge amount of money into London and provided accommodation for both domestic and
foreign workers for whom renting suits.

The Pros and Cons of Property Management Read More
Dealing with a leak in the home Read More
Outsmart London’s house-hunting crowds Read More
Changes to landlord legislation in 2023 Read More
Marsh & Parsons appoints Fiona Mongey to expand Prime Lettings offering Read More
Spring into action with our community events this March Read More
Q4 Property Market Update from Marsh & Parsons Read More
How to switch your estate agent Read More
Marsh & Parsons win two marketing awards Read More
Marsh & Parsons raises £2,741 for Sleep-Out challenge Read More

Marsh & Parsons is registered in England (Company No. 05377981) Registered office address: 80 Hammersmith Road, London, W14 8UD (VAT No. GB 231 0965 32) | Copyright © Marsh & Parsons 2024

Client Money Protection is provided by RICS. The redress scheme for Marsh & Parsons is The Property Ombudsman Scheme. Calls may be recorded and/or monitored for training and/or data protection purposes. We are members of The Property Ombudsman (TPO), there to protect your interests. We abide by the TPO code of conduct.

We may refer you to recommended providers of ancillary services such as Financial Services and Insurance. We may receive a referral fee for recommending their services. You are not under any obligation to use the services of the recommended provider, which may also be an associated company of Marsh & Parsons.