Prime numbers

4th March 2016

Demand for property in London's luxury home market has slowed, with JLL reversing its forecast that new-build central London developments would rise in price by 1% this year. The property consultancy is now forecasting a 3% decline. The Mail says several factors may have hit the sector, including global economic uncertainty and the increase in stamp duty for properties valued above £937,500. Andrew Frost, head of residential research at JLL, notes the impact the upcoming stamp duty increase will have, saying: “By including new build property within the 3% stamp duty increase, the Government has directly undermined its own priority to boost housing supply.”

Daily Mail (01/03/2016)