WE'RE OPEN: 7 DAYS A WEEK, 8am - 11pm
    Get a Valuation
    Register/⌂ Propertyfile
    Logo
    LogoLogo

    Open 7 days a week, 8am - 11pm

    Property Management

    PROPERTY MANAGEMENT / EMERGENCIES
    t: 0208 878 4277

    Barnes

    SALES
    e: sales@jabarnes.co.uk
    t: 020 8876 0100
    Contact Branch
    Properties for sale

    LETTINGS
    e: lettings@jabarnes.co.uk
    t: 020 8878 8688
    Contact Branch
    Properties to rent

    BARNES MARKET DATA

    East Sheen

    SALES
    e: sales@jasheen.co.uk
    t: 020 8876 6611
    Contact Branch
    Properties for sale

    LETTINGS
    e: lettings@jasheen.co.uk
    t: 020 8392 6161
    Contact Branch
    Properties to rent

    EAST SHEEN MARKET DATA

    Putney

    SALES
    e: sales@japutney.co.uk
    t: 020 8788 6611
    Contact Branch
    Properties for sale

    LETTINGS
    e: lettings@japutney.co.uk
    t: 020 8785 4400
    Contact Branch
    Properties to rent

    PUTNEY MARKET DATA

    Market Reports

    Latest: November property market report

    9 months ago
    Latest: November property market report

    The first Labour Budget for 14 years was a hotly anticipated political event, with rumours swirling in the build-up. Now, with Rachel Reeves safely back in No. 11, we can start digesting the contents. Here is what’s relevant to home movers.

    The Chancellor tried to curry favour by freezing two thresholds that, despite devolution, apply in Scotland and Wales, as well as England. While there was an increase to capital gains tax applied to non-property assets, the rate applied when selling an additional property was frozen. This remains 18% for basic rate tax payers, and 24% for higher and additional rate tax payers.

    Inheritance tax thresholds unchanged

    Inheritance tax thresholds were also frozen. This tax applies when a deceased’s assets are worth more than £325,000. The £500,000 remains when a residence is passed to direct descendants, and the threshold will remain at £1 million when a tax free allowance is passed to a surviving spouse or civil partner.

    Unexpected rise to additional property stamp duty

    Those hoping to purchase an additional property – perhaps to rent out or use as a holiday home – were almost instantly hit with a higher tax bill. In England, the stamp duty surcharge on additional homes increased from 3% to 5%. The change took effect from 31st October 2024.

    The Budget’s second home stamp duty news was in addition to a previously-announced change for first-time buyers. Currently, first-time buyers pay no stamp duty on the first £425,000 of a purchase. This is changing on 1st April 2025, when stamp duty will apply to the portion of a purchase over £300,000.

    The Budget was, however, delivered against a positive backdrop. Zoopla’s October House Price Index revealed just how upbeat home movers were feeling. Thanks to optimism, there are 26% more homes with ‘sale agreed’ status now, when compared to a year ago.

    The most active group are first-timer buyers. The portal found 36% of all sales are made by property novices, with existing homeowners buying with a mortgage accounting for 31% of purchases. Cash buyers represented 27% of buying activity.

    So what are buyers paying? The UK’s average house price is £267,500 – up £100 on the last set of figures. As a result, Zoopla says house prices have risen 1% in the last year.

    Rent controls in the news

    Back to Wales and the publication of a new white paper designed to reform the country’s housing sector. The document, released in October, concluded that rent controls in Wales were not appropriate. Instead, the Government wants to gather better, more localised rental data before developing ideas.

    Justifying their decision, ministers cited ‘emerging evidence from Scotland’ - where temporary rent controls are in force - as one of the reasons for scrapping the idea. It also felt rent controls could have a negative effect on private tenants, reduce the number of rentals available, lead to higher rental costs and increase the risk of homelessness.

    Worries about rental inflation and supply

    In Scotland, the SNP want to make the country’s temporary rent controls permanent by way of control zones with individual price caps. Its New Deal for Tenants Bill also proposes to make it easier for private renters to decorate and keep pets, as well as give tenants greater protection from eviction.

    The news coming out of Scotland and Wales is being followed by those in England, as rent controls have been mentioned by Labour in the past. Of concern is the impact similar measures have had in Scotland. It has experienced the UK’s highest rental inflation, according to The Negotiator, with landlords exiting the Scottish market and housing emergencies being declared in three regions.

    If you would like to know more about your local property market, please get in touch.

    Share this article

    More Articles

    Latest: July property market report

    Latest: July property market report

    Published about 1 month ago

    We have reached the midpoint of 2025. The first half of the year has been surprisingly steady but what happened in the last four weeks? We take a look at the trends shaping the current UK property market.

    Read More
    Latest: June property market report

    Latest: June property market report

    Published 2 months ago

    Both portal heavyweights provided a monthly snapshot of the sales market in May. As ever, Rightmove focused on asking prices. The UK’s average asking price for new instructions increased 0.6%, with a more expensive advertised price of £379,517.

    Read More
    Latest: May property market report

    Latest: May property market report

    Published 3 months ago

    How did April pan out in the property market? We take a look at the price reports and moving trends to inform your next move. Plus, we’re discussing Donald Trump and his surprising effect on the UK mortgage market.

    Read More

    Sign up for our newsletter

    Subscribe to receive the latest property market information to your inbox, full of market knowledge and tips for your home.

    You may unsubscribe at any time. See our Privacy Policy.

    Back to Home

    GUIDES 

    Selling a property
    Letting a property
    Buying a property
    Renting a property

    LETTINGS BRANCHES 

    Barnes
    East Sheen
    Putney

    SALES BRANCHES 

    Barnes
    East Sheen
    Putney Hill
    Lower Putney

    ARLA
    Guild
    NAEA
    OnTheMarket
    RightMove
    ThePropertyOmbudsman
    © 2025 James Anderson
    Privacy policy|Terms & conditions|Cookie policy|CMP Certificate
    Powered by