Winkworth flags hit over mansion tax worriesComments Off on Winkworth flags hit over mansion tax worries
The company flagged up “more difficult” conditions in the first half of 2015, sending shares down 6p, or 5%, to 125p, despite hopes for a “stable” performance over the whole year.
It expects the top end of the London market to be hit hardest with fears over a mansion tax sending prices down 5% in the first half.
“Although the market may pick up slightly after the general election, prices will be flat in central London for the year as a whole,” Winkworth said.
The suburbs are likely to fare slightly better with a sluggish market for the first half giving way to “modest” price rises.
While transaction levels will be flat, it forecasts “the middle market will show the strongest activity in 2015, as delayed interest rate rises prolong the availability of cheap mortgages”.