020 7538 0102
7th August 2015
New research from CBRE suggests London house buyers are shifting their focus to the outer boroughs, where average annual growth is running at 11.3% versus 5.7% in central London. Sales of homes worth over £1.5m in London and the Southeast have dropped by 17% over the year, partly under the influence of pre-election fears about a mansion tax. House price growth in the Southwest was highly variable, while growth was more muted in the Midlands, with 1% in poorer areas and 4% in hot spots. In Scotland meanwhile, house prices rose 13% in the first three months of 2015. CBRE said it was too early to draw firm conclusions about the impact of Scotland’s Land and Buildings Transaction Tax, which came into force in April 2015, but initial evidence suggested the savings it brought in at the lower end of the market had boosted transactions..