Finefair Review The 2015 London Property Market Performance Indicators

Dec. 17, 2015 - PRLog -- Finefair, the leading property management company serving London, have noted that the market performance of 2015 was very closely aligned to their projections at the start of the year. The pride which they take in this is not, however, based in a sense of personal satisfaction from being correct. It is rather the case that Finefair rightly stated that the London property market would remain healthy and successful. The team believe more of the same will be true for the year ahead, despite a number of gloomy forecasts being offered for 2016.

In addressing the negative projections some have made for the 2016 London property market, Finefair note that general assumptions have been made on the basis of certain specific, albeit key, points. Finefair have looked at these and are happy to be able to provide a fuller, clearer pictures about what is happening to, as well as affecting, the London property market.

Of all the pessimistic predictions for 2015, the most common was that tax policy changes - in particular with regards to stamp duty - by Chancellor George Osborne could cause a slowdown in the London property market. This has not been the case. Whilst it is true that houses sold for over £1million now have a higher tax obligation, it is the case that - as Finefair pointed out - many properties sold are subject to less tax than they would have been a year ago. The level of tax due has fallen for properties sold for below £937,000 - a value under which a substantial amount of property for sale in London goes for.

Another factor which many believed would cause a decline in the London property market was the anticipated fall in the number of non-UK buyers. For several reasons the number of overseas purchasers did drop during 2015, but no harm to the market occurred as a consequence. What the predictions did not take into account was that this fall would be off-set by an increase in UK based buyers. The year-on-year level of UK based London property buyers rose, as Finefair anticipated, by some 15%.

In closing, there were also numerous predictions of how the "bubble would burst" and London's property prices would fall during the year. This was not the case, with the majority of areas in London seeing an increase in property values higher than the national average. In Newham, Barking & Dagenham and Waltham Forest - three key areas which Finefair represent to London property investors - the average value of properties rose by just slightly under 17%.

The accurate projection Finefair presented for the 2015 London property market has served to illustrate why they are the most trusted name in the sector. The team use their extensive knowledge and insights to ensure that investors in London property always have their best interests looked after.