As Brexit bubbles away, where does that leave the Residential Property Market in the next quarter?

One doesn’t have to be a carnival fortune-teller or political expert (the former being more accurate) to realise that Boris will be a shoo-in candidate for Prime Minister. Top of the job list will be to trudge through a legislative obstacle course to propel a deal through Europe in three months. This is akin to squaring the proverbial circle and this herculean task will be compounded by the fact that the new – unelected – EU commissioners would hardly have had time to raid the Brussels wine cellar, nor file their bogus expenses claims.

Wisely or not, Boris has committed himself to the deadline of 31st October and there is no going back for the ‘blond bruiser’. After three years of May’s failure, he will confront a restive nation that will delight in nailing him to the masthead. While it’s possible that he’ll just do a cut and paste job of May’s withdrawal deal, kicking some of the more contentious elements down the road (i.e. the backstop), given the past obdurate record of the EU negotiators, this seems like an improbable scenario. We don’t need any more choruses of ‘Mais Non’ from them do we? Read more

Boris to switch Stamp Duty from Buyers to Sellers

It’s always gratifying to see one’s ideas vindicated in reality – a kind of benign schadenfreude, if you like. This week, Boris mooted that he could switch Stamp Duty from buyers to sellers, something that I have been proposing for a number of years.

It could end a long period of market stagnation, instigated by witless former Chancellor George Osborne’s Stamp Duty escalator ‘reforms’ in that ill-fated Autumn Budget of 2014.

His strategy (probably scribbled on the back of a chewing-gum wrapper) tried to re-model the ‘slab-sided’ previous system by removing buyers at the lower end out of the SDLT net altogether whilst at the same time clobbering potential buyers of over £900,000. If they had the temerity to own more than one property, they were hammered with a surcharge. So much for the property-owning democracy and the party that supports entrepreneurship. Read more

Corbyn’s Latest Tax-Grab, Stalin-Style

Whilst few of the British reside in castles anymore (apart from our cherished Royal family), property owners of the nation regard their home as hallowed ground. In true socialist style though, Neo-Marxist, Dictator-in-Waiting Corbyn has decided that “what’s yours is mine” and is drooling over a Capital Gains Tax on all PPRs (personal private residences).

No former government has ever had the temerity to stamp on this sacred ground, for fear of an electoral backlash, but evidently there is no stopping this complete buffoon and his audacious tax plans. Read more