Will the world’s super wealthy still buy in London? November 7, 2024 The abolition of non-dom status and stamp duty on second homes may sound like bad news for super-prime property, but the reality is more nuanced, says Trevor Kearney The delivery of Rachel Reeves’ first Budget marks a significant shift in the UK’s fiscal landscape, especially for London’s super-prime property market. While headlines focus on the [...]
How to protect your wealth from inheritance tax November 7, 2024 The inheritance tax regime is changing but don’t panic – plan. Here’s how… The Chancellor’s Budget featured many ambitious promises, bold changes, and, of course, cuts. Among these was a reform to Inheritance Tax (IHT), which is the levy applied to the estate of someone who has passed. By bringing inherited pensions into the scope [...]
Property prices hit record high as analysts warn rise will continue November 7, 2024 House prices have hit a record high as analysts suggest higher demand has come up against a continued shortage in the housing supply. The cost of the average UK home reached £293,999 in October, the highest ever recorded, outstripping the £293,507 reached in June 2022, according to Halifax. The 0.2 per cent rise is the [...]
Square Mile and Me: Together’s Ryan Etchells on going from intern to CCO November 7, 2024 Each week we dig into the memory bank of the City’s great and good. Today, it's Together CCO Ryan Etchells, with a northerner's perspective on the Square Mile.
London house prices gloom revealed but owners set for £84,000 boost November 6, 2024 The average home in Britain will be £84,000 more valuable in five years’ time, according to a new forecast, but London house prices will grow slower than anywhere else in the UK. Real estate giant Savills has said it expects the typical property value to reach £442,000 by the end of the period to 2029, [...]
Stamp duty hike: a ‘bitter but manageable pill to swallow’ for UK landlords November 5, 2024 Last week’s Budget announcement raised Stamp Duty Land Tax (SDLT) to five per cent tax, yet household landlords seem unfazed. London-based estate agent Benham and Reeves carried a survey to find out how UK landlords reacted to this hike. Concerns about potential hikes in capital gains tax (CGT) on property investments weighed heavily on landlords [...]
IWG buoyed by workers returning to the office November 5, 2024 Hybrid workspace platform International Workplace Group (IWG) has reported an uptick in revenue boosted by strong growth in its managed and franchised properties. Revenue grew by two per cent in the three months to 30 September, 2024, on a year-on-year constant currency basis, the company told markets this morning. The firm grew revenue at its managed and [...]
UK fund withdrawals reach largest on record amid Budget panic November 4, 2024 UK equity fund withdrawals reached their largest on record in October as investors pulled billions out of markets to escape tax rises in the Budget. Investors sold a £2.7bn stake in funds throughout the month in anticipation of Chancellor Rachel Reeves hiking capital gains tax, up from £564m of withdrawals in September, according to data [...]
Is your business about to feel the Ozempic squeeze? November 4, 2024 Reshaping stomachs with weightloss drugs like Ozempic likely means reshaping some markets (and probably your strategy), says Paul Armstrong Ozempic, Wegovy, and Mounjaro are driving a subtle but undeniable shift in obesity rates across the U.S, showing a 2 per cent drop so far. While it’s too soon to crown these drugs the cure-all, their [...]
How Shared Ownership can help Londoners escape high rents November 3, 2024 If you’re looking to get on the housing ladder then a range of new Shared Ownership properties (some in Zone 1) appeal this autumn Fears of a rise in stamp duty for first time buyers were allayed yesterday when Chancellor Rachel Reeves announced the rise would only affect second home buyers. The news means landlords [...]