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Bedfords Review Issue Two6 Property Bedfords Review Issue Two6 Our job is to secure editorial content in the media much sought after because editorial is why people buy newspapers and magazines in the first place. Editorial is what they tend to believe like and trust. Furthermore and unlike advertising editorial is seen as having third-party endorsement the approval of the journalist or media outlet in question. This sort of sanction means PR is considered to be worth around 10 times the value of advertising. So we scour the properties on our books for PR opportunities tirelessly trying to track down aspects or qualities which might catch a journalists eye and therefore be deemed worthy of editorial coverage. In 2015 we secured editorial with an advertising value of over 180000. Admittedly the process is an art rather than a science and nothing is ever guaranteed. But its an art which can reap dramatic dividends by substantially increasing the number of people who are aware that a property is on the market. This is the value that PR can provide. In short its the coverage that money cant buy. Eric Dixon PR Department COMMENT The coverage that money cant buy Advertising you pay for PR you pray for In 2015 we secured editorial with an advertising value of over 180000 for 1million or more during the first half of 2015 over the same period 2014. Perhaps it is not surprising that buyers have baulked at the sight of their tax bills. However we can be sure that the new rates are here to stay. In fact Mr Osborne announced in Novembers Autumn Statement that he intends to implement a further 3 levy on top of the existing rate of Stamp Duty for the purchase of buy-to-lets and second homes from April 2016. However it is probably true to say that most people will not put their plans on hold indefinitely even if the incentive is to avoid a new tax regime Therefore slowly but surely activity levels at the top of the market will return to normal as buyers accept the new reality. Those buying as an investment or for a second home will begrudgingly accept the extra tax burden. After 50 years in the business David Bedford has seen most things before and he commented pithily to me on the day the new rates were announced It may take the froth off things for the next year but dont worry you dont buy a Bentley if you cant afford to fill the tank. Ben Marchbank Partner Burnham Market office If we cast our minds back to December 2014 Chancellor George Osborne announced a fundamental reform of Stamp Duty. Henceforth rates would entail no tax on house purchases up to the value of 125000 a 2 tax on purchases between that and 250000 5 in the band up to 925000 10 between that and 1.5m and 12 beyond that. Osborne declared that this would cut the rate of tax for 98 of purchases and it was hailed as a masterstroke by opponents of Labours mooted mansion tax which was quietly booted into the long grass as a result. The RICS predicted a bumper 2015 suggesting the number of sales in the UK could increase by 5. Whilst the volume of sales has not increased as anticipated the Land Registry recorded 909000 transactions for the period Jan Sept 2015 as opposed to 927000 between Jan Sept 2014 the alteration to Stamp Duty rates seems to have fuelled activity across most sectors of the market our offices have all performed well during 2015 and demand for property remains strong. Of late though it has been suggested that the increased rates of Stamp Duty now payable on transactions over 1million have led to a slow-down at the top of the market London agents have reported a lull in activity whilst research published by Lloyds Bank suggested 11 fewer homes were sold A review of the property market in 2015 George Osbornes stamp collection You dont buy a Bentley if you cant afford to fill the tank