Andrew Langton of Aylesford International
“The referendum has divided families similar to the Spanish civil war, exposed a number of duplicitous politicians, caused mayhem amongst bookmakers and desecrated markets.
Since the Chancellor’s hike in SDLT coming into effect in April 2016, the London residential market has been very quiet and subsequently the indecision caused by the referendum brought it to a virtual standstill in Q1 and Q2 particularly at the higher end.
So where do we go from here? After the Chancellor has introduced an emergency budget in which he increases income tax, corporation tax, inheritance tax and reduces the defence budget but maintains overseas aid, the vote to leave could now see us heading for absolute chaos.
We should remember that we continue to have the highest stamp duty rates in Europe to factor into some of our now overpriced properties and within ten months a number of non-doms will be leaving town. This is not a time for the faint hearted.”