{"id":1654,"date":"2016-03-30T14:17:37","date_gmt":"2016-03-30T14:17:37","guid":{"rendered":"http:\/\/poseidon-gp.com\/property\/?p=1654"},"modified":"2016-03-30T14:17:37","modified_gmt":"2016-03-30T14:17:37","slug":"property-market-warning-house-prices-in-london-to-crumble-amid-tax-changes","status":"publish","type":"post","link":"https:\/\/poseidon-gp.com\/property\/property-market-warning-house-prices-in-london-to-crumble-amid-tax-changes\/","title":{"rendered":"Property market WARNING: House prices in London to crumble amid tax changes"},"content":{"rendered":"

BRITAIN’s housing market is set for a major slowdown over the next few months amid growing fears London’s house prices are about to crash.<\/em><\/p>\n

Surveyors expect a drop in property sales from next month when an extra three per cent tax on landlords and second home buyers takes effect.<\/p>\n

The Royal Institution of Chartered Surveyors (Rics) sent out a warning the tax changes were to have a major impact.<\/p>\n

Rics chief economist, Simon Rubinsohn, said: “It is inevitable that over the coming months, April’s stamp duty changes will take a little of the heat out of the investor market.”<\/p>\n

The survey showed house prices across the country broadly increased in February, with buyers rushing to beat the end of March deadline to complete.<\/p>\n

But in London values failed to rise, and for the first time in a year more surveyors now think house price will drop in the capital over the coming three months.<\/p>\n

At an average \u00a3530,409 prices in the capital are almost three times the national average of \u00a3191,812.<\/p>\n

Rics’ report said: “Anecdotal evidence suggests tax changes, concerns over Brexit and global economic uncertainty are all taking their toll on buyer sentiment in the capital.”<\/p>\n

Fears are growing the top end of the capital’s market could be about to crash, particularly among high-end new-build homes, according to experts.<\/p>\n

Morgan Stanley recently predicted prices for prime flats could crash by as much as 20 per cent, thanks to falling numbers of foreign buyers in London.<\/p>\n

But across Britain long-term expectations for house prices remain strong, according to Rics.<\/p>\n

East Anglia has continued to show the sharpest price increases, with 91 per cent of surveyors there reporting rising prices.<\/p>\n","protected":false},"excerpt":{"rendered":"

BRITAIN’s housing market is set for a major slowdown over the next few months amid growing fears London’s house prices are about to crash. Surveyors expect a drop in property sales from next month when an extra three per cent tax on landlords and second home buyers takes effect. The Royal Institution of Chartered Surveyors […]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,1],"tags":[],"class_list":["post-1654","post","type-post","status-publish","format-standard","hentry","category-news","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-qG","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=1654"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1654\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=1654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=1654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=1654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}