Money

Given that the government is running a £40 billion deficit, is determined to increase spending on infrastructure and will not be facing an election for another five years, no-one should get their hopes up too much for tax cuts in the Budget. Indeed, most of the talk has been of possible rises. But if any tax is going to be cut it is likely to be Stamp Duty on property purchases, at least those made by owner-occupiers at the lower end of the market. No tax has been jacked up quite so much over the past two decades. When Gordon Brown started as Chancellor buyers paid a flat one per cent of the value of the property they were buying. Now there are progressive bands, as well as a three per cent surcharge for second or investment properties.

With prices in many parts of the city already beginning to fall, buying in London is a minefield. Striking a balance between liveability and getting a good return on investment is the trick we should all be aiming to pull off. Afterall, buy somewhere that’s already got too many tattooed men selling flat whites and you’ll end up paying the price later when you realise values in the neighbourhood have topped out. Equally, buy somewhere that’s cheap, but far below the radar for cool hunters and you could end up with the same problem. We’ve picked out some areas in the north, east, south and west of the city that have that perfect trade off between up and coming property prices and great liveability.

Staring into a stranger’s armpit on a rush-hour tube train can often lead to thoughts of moving to a tiny village. We imagine that, there, we might find the space to be ourselves. As a description of Louis de Bernieres’ fictional Surrey village, Notwithstanding, reads: it is a place where, “a lady dresses in plus fours and shoots squirrels, a retired general gives up wearing clothes altogether… and people think it quite natural to confide in a spider that lives in a potting shed.” Perhaps it’s just me, but as a Londoner, that all sounds rather liberating. In the interests of bucolic fantasies, we’ve put together a list of commuter villages near the capital.

At first glance you could be forgiven for thinking that Labour’s publication ‘Land for the Many’ is a set of policy ideas that solves the housing crisis. Increasing the supply of affordable housing and freeing up land to build, improving access to existing stock and transparency sounds fair, right? Yet tucked away inside the report, you’ll find a range of measures that could pull the market as we know it to pieces; it’s the most radical sets of property proposals since the mass building plan after the Second World War. The report’s editor, George Monbiot, has not thought through the unintended consequences of the proposals. Just one example and perhaps the most damaging is the desire to reduce land prices.