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john westwood

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my expertise in the industry

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It must have escaped your notice Glenn, the Tories have been attacking the property market since 2010, starting with George Osbourne and the hideous Stamp Duty rates, followed by the attack on the private rented sector, culminating in support for destructive and pointless interest rates hikes supposedly to deal with inflation, which of course they created themselves by the completely stupid and utterly ineffective response to Covid. It really could not get any worse, a trained monkey would do a better job

From: john westwood 17 July 2023 12:10 PM

I am surprised that the proposed removal of Section 21 Eviction powers has not sent the letting market into a flat spin. The loss of this provision effectively reverses the reforms of the 1987 Housing Act which effectively created the present Buy to Let market. If you cannot get your Tenant out, for whatever reason within a reasonable time, then surely the Buy to Let market is a goner. I am old enough to remember why nobody rented residential property out for fear of creating a controlled tenancy and slashing the freehold value. This is very bad news and is unbelievable coming from a so called Conservative Government!

From: john westwood 02 February 2022 14:56 PM

As a tool to completely disrupt and destroy the housing market I cant think of a better one. SDLT has already caused serious difficulties because, as with most Government actions the unintended consequences are always a surprise. This idea would make SDLT look like a minor hiccup.

From: john westwood 09 December 2021 14:58 PM

Bang on Edward, Terence you need to remember that it only needs all good men to stay silent in the face of corruption and evil for it to triumph. We all need to tell this bunch of morons who claim to be our Government to remember that our fore-bares sacrificed their lives for freedom. To stand by and watch vaccine mandates and vaccine passports become a reality is an insult to our history and all the brave, fearless people who shaped it.

From: john westwood 03 December 2021 12:34 PM

It`s too much to expect some backbone from Estate Agents, masks are useless, lockdowns are useless and the vaccination is the only one I know that allows you to get the disease it vaccinates you against, priceless really, the claim that the vaccine stops you getting Covid badly is easily made, but of course is not provable one way or another. We should all be telling the Government to get lost and get on with our lives in the hope that it will stop them spending our grandchildrens money like drunken sailors. In my view the Gov and Opposition are criminally negligent and should be prosecuted...if anyone knows how to organise crowdfunding to prosecute them let me know.

From: john westwood 01 December 2021 15:35 PM

Thankyou Mr Copus, I realise now how stupid I was to vote for self determination and control of our borders ,laws and money, much better to let those cleaver EU bureaucrats do it for me....You are the definition of a pompous remoaner, you lost for a very good reason and you should learn to trust democracy, particularly as you have the honour to be in the world`s oldest democracy.

From: john westwood 19 February 2019 15:16 PM

I am always astonished that the entire industry hasn't kept up a constant barrage against the hideous levels of SDLT. This tax is threatening the entire industry. It is no good saying that lower levels of the tax rate are acceptable when the higher rate is so punitive that it actually has destroyed the entire flow through the market. Billions has been taken out of the business in one stroke and yet you have solutions offered like "downsizers being exempt" utter bunk, This tax destroys deals and prevents most buyers at the upper end from moving, it is the most serious attack on the property market and hence, this country`s well being in centuries. Of course that moron Osbourne didn't see that, nor has his equally moronic successor. It really is very simple, buyers in the main do not have hundreds of thousands of pounds spare to pay huge taxes when they move....so what do they do?...not move of course. This really is that simple, the tax levels make the decision, not the buyer or the seller. It is no good saying that the prices have to reflect the tax, that doesn't work as the levels are more punitive as prices go up, so there is an inbuilt imbalance, aside from the fact that reduced prices still throw up huge SDLT which has to be paid from additional resources not connected to the transaction. Reduction to 1 or 2% is the answer which we know is a workable level.

From: john westwood 04 February 2019 14:25 PM

I recall similar doom laden forecasts for the Millenium Bug, and of course the referendum itself. Leaving without a negotiated deal is perfectly straightforward, we have a deal written down and internationally agreed ...The World Trade Organisation rules which we of course were founder members of. Just read what is required and get on with it. It will undoubtedly be the best outcome for us. If by some freak we end up with May`s deal, then there will be a very serious detrimental effect, largely because the shakers and movers of this country are predominantly Leavers and will frankly give up.

From: john westwood 22 November 2018 12:27 PM

Mr Walsh is obviously living in a parallel universe, to suggest that 12% stamp duty, plus a possible surcharge of 3% has nothing to do with a poor market at the top end is frankly incredible. Paying for example over £200,000 to buy a £2,000,000 property kills most transactions stone dead.....people have actually changed their behaviour and no longer focus on moving to a better property, neither do the downsizers who simple take equity release. These levels of stamp duty are a continuing and worsening disaster, and Mr walsh should perhaps wake up and smell the coffee.

From: john westwood 21 November 2018 11:43 AM

I don't care what these online agents claim as sales, under offer means very little, no what is interesting is the number of listings. On this basis if any of their investors see these figures they will want toute suite, these businesses do not make money and unless they can list the entire sales stock, I cant see how they can make money

From: john westwood 15 November 2018 15:36 PM

How much more proof do you need to demonstrate that it is Stamp Duty not Brexit (which is a distraction and delaying factor) that has caused the market to fall and transaction numbers to dive. People have changed their behaviour, they don't move as frequently and when they do it is probably less likely to be an upward move. The costs are just horrific...over £200,000 in duty at £2 million....+ 3% if you don't sell your existing property at the same time. Thankyou George Osbourne, the renowned Editor of a free newspaper! The Gov now can see receipts are falling so perhaps they will do something about it, before people get used to not climbing the property ladder and find something else to do!

From: john westwood 07 November 2018 15:39 PM

I am astonished that those on the agency side of the property business don't see that charging penal rates of SDLT at the top end has effectively topped the market off. There is no movement up to or down from the higher priced properties. This has effectively taken a huge sum of money out of the market and, of course changed peoples behaviour and aspirations. It is catastrophic and must be reversed. That supposed professionals are talking about other reasons for a very poor and deteriorating market is frankly pathetic and does demonstrate that intelligent levels in Agency are not as high as Stamp Duty!!!

From: john westwood 19 October 2018 14:21 PM

it is my belief that unless the SDLT rate is radically reduced the property market will cease to function effectively. The top end will simply contract even further, transactions are already at historically low levels and it is clear that the penal levels are reducing the tax take, but more importantly people are changing their behaviour. As they can no longer afford to move their focus goes elsewhere and the whole appeal of property loses its attraction. It is very simple really, ask yourself if spending £140/200,000 to buy a house/flat etc for £2,000,000 is a serious proposition when there are many other more indulgent places to spend that amount, which of course most people don't have in cash in any event.

From: john westwood 16 October 2018 11:30 AM

Purple Bricks will have to list the entire housing stock every six years to make a profit...plus a few pyramids!!!

From: john westwood 15 October 2018 12:25 PM

Purplebricks is essentially a pyramid structure, it`s business model relies on ridiculous numbers of listings (sales don't matter) which if you do the sums would require the entire housing stock being traded in short number of years. The whole thing will never work and is simply a way of extracting investment from people/institutions who are either greedy/stupid or both. It simply doesn't work

From: john westwood 10 October 2018 10:32 AM

Frankly the reason for the dull market has nothing to do with Brexit, or demographics, it is Stamp Duty at the top end, which has effectively taken the top off the circle (all markets are circular) it is no longer functioning because the top end buyers will not pay 12% stamp duty or 15% if it is a second home or bought on bridging. Why do politicians think that a buyer for a £2 million pound house in Barnes has another £140,000 lying around for Stamp Duty, or that they would part with that monstrous amount simply to move house.Of course for Russians and the like it doesn't matter, however as is now apparent they do not make the market, real buyers who actually live in the properties do and until the rates are radically lowered it aint going to get much better!

From: john westwood 09 October 2018 11:13 AM

Knight Frank should know better, Stamp Duty has cut the top off the market, bleating about Brexit will not change the fact that the Top End market will not wear taxes at this level and the buyers have demonstrated that they are not willing to pay them. Moron Osbourne should have known that but I suppose his forecasting skills match his ability to run a free newspaper!!

From: john westwood 04 October 2018 15:31 PM

How is it that nobody seems to understand, downsizers, particularly in the south and London are not moving because they don't have buyers because of Moron Osbourne`s Stamp Duty hikes of 2010-2016, people will not pay and are doing something else, the market is not functioning and wont until SDLT is radically reduced across the board. The current Chancellor is more interested in sabotaging Brexit than tackling a very important issue....This will undermine the whole market and must be put right.

From: john westwood 10 September 2018 10:16 AM

This article completely misses the central issue, it is not downsizers you need to help, it is buyers at the top end, who wont pay the stupid rates of Stamp Duty, set by that moron George Osbourne. This is a lesson for any would be Chancellor, if you set rates of tax too high, not only will people not pay those taxes, they will also change their behaviour. This has happened to the market which is no longer functioning properly, add in "Help to Buy" and you really have a big problem

From: john westwood 30 August 2018 12:48 PM

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