how developer Stonebond is advising buyers to get their skates on to avoid a big tax bill when Stamp Duty increases in April Pages 14-15 Fast, affordable, conveyancing services
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by Jon Massey
Things at the very top end of the UK’s property market are hotting up. Recent research from property advisory firm JLL found that the number of sales in prime central London in the last three months of 2024 was at its highest for 10 years.
Nearly 2,000 properties exchanged over the course of the full 12-month period, a rise of 6.5% on 2023. The company said prices on homes above £10million were up 1% in the last quarter, year-on-year, with falling interest rates given as the likely explanation for the positive activity.
As is often the case when the sales market begins to perform better, JLL found the rental market in prime central London had started to tail off with tenants paying just 0.4% more year-on-year in the last quarter, down from a high of 15% in the first three months of 2022.
Marcus Dixon, director of UK residential research at JLL, said: “The pendulum has swung from trepidation to momentum for London’s residential sales market.
“The hope now is that this continues as the political and economic landscapes become more settled in 2025 and beyond.
“Increased confidence and certainty among businesses and investors, which we hope will emerge as we get more clarity on the UK economy and taxation in 2025, is forecast to support growth activity and rents across the prime rental market in 2025.”
Away from JLL’s study, in the UK as a whole, house prices were found to be increasing by various measures. The Land Registry reported that values had risen 3.3% year-on-year in November, while Nationwide put the figure at 4.1% in January. Halifax and Zoopla both reported figures for December of 3.3% and 2% respectively.
London as a whole, however, remained the only region in the country to have experienced price falls, which the Land Registry recorded at 0.1% in November. The average London property then stood at £511,000, perhaps stretching the affordability limits of buyers.
Nevertheless, broadly most organisations are predicting price rises over 2025.
Go to jll.co.uk for more details
for The Gosfield, a four-bedroom home at Woodbanks near Bishop’s Stortford, about 40 minutes’ drive from Canary Wharf
by Jon Massey
For many Londoners, escaping the smoke is the dream. The idea of cashing in and leaving the city behind for more space and a better quality of life is a potent temptation.
Developer Stonebond is currently urging those in a position to do so not to delay.
The company is currently marketing three schemes, one at in Hertfordshire, just up the M11 and two in Cambridgeshire about an hour from Canary Wharf by car. Why the urgency?
Well, on April 1, Stamp Duty is set to rise both for first-time buyers and those already on the ladder, presenting a window of opportunity.
Stonebond said those purchasing their first home would be hardest hit with an extra £6,250 payable thanks to a drop in the threshold when tax becomes payable from £425,000 to £300,000 and a 5% charge for homes priced between £300,001 and £500,000.
Other buyers will see the threshold halved from £250,000 to £125,000 increasing the cost of moving home across the whole market.
However, those able to buy and move into a home before March 31 can beat the tax rises and Stonebond has properties that are all ready to go.
Closest to east London is Woodbanks, a scheme in Takeley near Bishop’s Stortford. The development benefits from 11 acres of green space and is located a six-minute drive from the M11, offering rapid journeys into Canary Wharf.
Homes available include The Gosfield, a four-bedroom house extending to some 1,497sq ft and on the market for £599,999.
Somewhat further out is Waterbeach, a scheme just north of Cambridge off the A10. Properties on offer include apartments offered through the Discount Market Sale scheme.
For those who’d prefer a house, The Newbury is a three-bedroom detached home with two terraces and a private garden priced at £625,000.
There’s also The Beckett, a four-bedroom townhouse with two en suites and a top floor terrace for £685,000.
Finally, Wintringham, close to St Neots, promises a “thriving new community” and a range of four-bedroom homes with prices starting at £485,000.
We’re pleased to be providing an opportunity to our customers, allowing them to take advantage of the savings
Annette Cole, Stonebond
All three schemes have properties that are ready for buyers to move into before the end of March.
Waterbeach buyer Karen Wong, who recently purchased a property at the development said:
“I’m thrilled to have purchased a three-bedroom home.
“From the moment I first visited, I was captivated by the peaceful, natural surroundings, and now I can’t wait to move in and start enjoying everything this incredible location has to offer.
“My new home is characterful, with a cosy and beautiful courtyard garden and two terraces, giving me the perfect spaces to take in and enjoy in the breathtaking and scenic views.
“When I learned about the tax
thresholds changing, I started my property search earlier than I initially planned.
“The adjustments could potentially have cost me an additional £6,000, so I knew I needed to start looking for a new home quickly.
“The Stonebond team have been brilliant, guiding me through every step of the process and ensured I could complete ahead of the deadline, even with purchasing off-plan. Their support has been invaluable.”
Stonebond sales and marketing director, Annette Cole, added: “We’re pleased to be providing an unmissable opportunity to our customers, allowing them to take advantage of the savings that come with completing before the adjustments set in.”
key details
Find our more about Stonebond’s developments on the company’s website or call 01245 377 299. Go to stonebondproperties.com for more information or to register interest in a home
Stonebond’s schemes all have options for those looking to move by March 31
YOUR WINDOW TO THE CITY
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DISTINCTIVE 1, 2 & 3 BEDROOM APARTMENTS MANY WITH SPECTACULAR VIEWS ACROSS LONDON
FROM £885,000
BOOK YOUR VIEWING 020 7099 5743
“ I think what really appealed to me about living at Woodbanks was the idea of having such a lovely and high-quality new home in a perfect location. As a dog owner, it’s amazing to have so much open space outside of my doorstep, as well as Hatfield Forest just a short distance away too. I really enjoyed the personal touch I received through Stonebond. My favourite part of the house is probably the kitchen – it’s the heart of the home, isn’t it? It’s great to have a breakfast bar, which is very social. I’ve sat there with my son and my friends, and it makes the kitchen a fabulous space to entertain. ”
Candice - Woodbanks Resident
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LICENSING ACT 2003
LONDON BOROUGH OF TOWER HAMLETS NOTICE OF APPLICATION FOR A PREMISES LICENCE
Notice is given that: Cheers & Chatter Ltd has applied to London Borough of Tower Hamlets Licensing Authority for a Premises Licence under the Licensing Act 2003.
The premises are situated at: Attic Self Storage, London, E3 2TB
The licensable activities and timings are: Sale of alcohol for o -site consumption (online only) Operating Hours: 24/7 (storage use only)
Anyone who wishes to make representations regarding this application must give notice in writing to: The Licensing Section, London Borough Of Tower Hamlets, Tower Hamlets Town Hall, 160 Whitechapel Road, London E1 1BJ or email: licensing@towerhamlets.gov.uk Website: www.towerhamlets.gov.uk Tel: 020 7364 5008
Representations must be received no later than21/02/2025. The Application Record and Register may be viewed between 10am and 4pm Monday to Friday during normal o ce hours at the above address.
It is an o ence under Section 158 of the Licensing Act 2003, knowingly or recklessly to make a false statement in connection with an application and the maximum ne for which a person is liable on summary conviction for the o ence is up to level 5 on the standard scale (unlimited ne).
LICENSING ACT 2003
LONDON BOROUGH OF TOWER HAMLETS NOTICE OF APPLICATION FOR A PREMISES LICENCE
Notice is given that: Amber Nar Ltd has applied to London Borough of Tower Hamlets Licensing Authority for a Premises Licence under the Licensing Act 2003.
The premises are situated at: Unit 4, 1 New Drum Street, E1 7AY
The licensable activities and timings are: The sale of alcohol and the playing of recorded music – Monday to Sunday, 8:00-23:00
Anyone who wishes to make representations regarding this application must give notice in writing to: The Licensing Section, London Borough Of Tower Hamlets, Tower Hamlets Town Hall, 160 Whitechapel Road, London E1 1BJ or email: licensing@towerhamlets.gov.uk Website: www.towerhamlets.gov.uk Tel: 020 7364 5008
Representations must be received no later than11/02/2025. The Application Record and Register may be viewed between 10am and 4pm Monday to Friday during normal o ce hours at the above address.
It is an o ence under Section 158 of the Licensing Act 2003, knowingly or recklessly to make a false statement in connection with an application and the maximum ne for which a person is liable on summary conviction for the o ence is up to level 5 on the standard scale (unlimited ne).