Wealthy home owners flood rental market as they 'reassess' options - Property Industry Eye

World's wealthy 'leaving London' claims Garrington

One of the UK’s best-known property finding firms has claimed that increasing numbers of London’s wealthy are ‘fleeing the country’ and has blamed Labour’s recent decision to abolish the ‘non-dom’ tax regime. Garrington, which has a network of property finders across the UK including London, says a large percentage of those deciding to leave the UK have been renting out their homes rather than selling them, in the hope that a future UK governmen…

Wealthy home owners flood rental market as they 'reassess' options - Property Industry Eye

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Millionaire exodus pushes prime London rentals up as home sales stall - Garrington Asset Management

London’s prime property market has seen a shift this year as high-net-worth (HNW) owners have switched from selling to renting out their homes. Pippa Mitchell, director at Garrington Asset Management, said the move from selling to renting was down to wealthy owners not wanting to lose one-off, trophy homes, choosing to “focus on a generational, rather than short-term, timeline”. Research from LonRes found the average rent agreed for flats in pri…

Labour's impact on the London property market - Property Notify

Research by London lettings and estate agent, Benham and Reeves, has shown that London is just one of two regions where house prices have fallen since Labour came into power and it’s the prime London market that has seen the largest decline when it comes to the rate at which property values are depreciating. Benham and Reeves analysed the latest house price data looking at how the market has performed since Labour took power in July of last year…