Thursday, 10 November 2016

Shepherd's Bush House Prices Keep Getting Sillier

Never mind Brexit, the fall in the value of Sterling, punishing increases in Stamp Duty, slowing economic growth and a Trump presidency.  Despite all the headwinds, Shepherd's Bush House Prices just keep on getting sillier. Recently a house was listed for a breathtaking £3million in Macfarlane Rd, a fairly average street of Edwardian terraced housing which sits just west of Westfield and south of the new TV Centre development. It's hard to imagine prices like these in our neighbourhood. Will Barnard Marcus get £3million - or even close - for a relatively modest Edwardian three story house?

What is really astonishing is that the Stamp Duty payable on the purchase is a jaw-dropping £273,750. That's almost £300,000 in tax - just for the privilege of buying a house that, not so very long ago (remember The Bush before Westfield?), wouldn't even have cost that much to buy.

Still, one thing is clear: despite all our problems - house prices don't appear to be falling.

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