GEOFF WILFORD

WILFORDS

City
London
Category
Property Advisers
Company Size
Boutique

Geoff Wilford says the former chancellor’s tax hike is proving more ‘restrictive’ the higher up the market one goes. ‘Buyers would rather stay where they are and dig up a basement or extend sideways than pay a million’s worth of stamp duty to move house,’ he says. The sellers suffer, too, as the ones ‘taking the bitter pill of either accepting the offer which encompasses the additional stamp duty or not selling the property’. Such effects have dampened the Kensington and Chelsea market, where the west London specialist says prices have dropped by nine to 12 per cent in the past year: ‘There’s no point in putting it on for the same price as a similar house traded at 18 months ago — that’s being in denial.’

Geoff Wilford