The Royal Institution of Chartered Surveyors created RICS Matrics to nurture the interests of members whether new to, or those not long in the profession of surveying.
RICS Matrics Kent members have recently voted for their new local group board and Caxtons' staff have been elected to places at the top table.
Caxtons has always supported its trainees and graduate members of staff and is delighted that the following staff have been elected to the board:
James Roberts, a Commercial Agency Manager at Caxtons in Canterbury has been elected as Vice Chariman. James specialises in acquiring and disposing of commercial property for a range of clients.
Kazeem Agboola has been re-appointed as Treasurer. Kazeem's day job is a Commercial Property Manager and he is based in Caxtons' Gravesend Head Office in Windmill Street.
Tatenda Metzger has been elected as the Student Liaison member. She is a graduate surveyor in the Professional Department at Head Office.
Finally, Tom Foster has been appointed as a committee member (without portfolio) and is a graduate surveyor in the Building Department in Gravesend.
The 40 local RICS Matrics groups provide a network, support and a voice for its members as well as a source of energy for the surveying profession.
It is youthful, forward thinking and provides an environment of inclusion for its newest members to grow and feel like an integral part of the RICS.
Activities at the Kent group includes a monthly event and sporting activities for fun and friendships but focuses on networking to engender long lasting contacts with other professionals and developing their skills.
The 2016 budget created a flare-up in government, but was there a stir in the property sector? Contrary to some rumours, there was no U-turn on stamp duty for purchasers of buy-to-let or second homes, and thus the 3% surcharge looks like it is here to stay.
One announcement that brought a smile to smaller investors was the announcement of new rates for commercial stamp duty land tax (SDLT).
George Osborne made his statement, saying that there would be 'big tax cuts for small firms'.
Charlotte Bland, Associate Director, Commercial Management and Investment said: 'The announced changes came into effect on property purchases completed on or after 17th March 2016 and it is true that this measure favours small investors, individuals, personal pension schemes and small / medium size property companies.
"Less SDLT will be due than before as long as the price of the property in question is below £1.05m.
"Prior to the announcement, on a commercial property purchase of £300,000, the stamp duty would have amounted to £9,000. Now it will be £4,500 – a real reduction of 50%.
"As with residential SDLT there is a rising scale of duty applied depending upon the purchase price which will now be applicable on "slices" of the value. On commercial property below £150,000 no stamp duty will be payable; on the next £100,000 of the purchase price the rate will be 2%; and a top rate of 5% will be due on any amount over £250,000"
This may attract more, smaller investors to the commercial property market, especially in light of the additional duty that residential buy-to-let investors will incur, coupled with the impending withdrawal of tax relief on mortgage interest rates.
Charlotte continued, "While commercial investments may be subject to more risk than residential property, on the plus side, relative returns are higher."
Also, the changes will now mean that an investor will achieve a higher return on any commercial investment purchased below £1.05m due to the reduced stamp duty they will now pay. The downside is that this change may lead to an increase in the value of properties for sale, as the market naturally re-adjusts and any saving on costs will be negated by increases prices.
Another downside of this change to SDLT is that purchases over £1m will be adversely affected and property price will be a deciding factor when calculating net returns. Larger investors – such as Pension Funds – will be disadvantaged with the stamp duty on a £10m property purchase increasing from £400,000 to £489,500.
However, the Chancellor assured his audience that only '9% of buyers would pay more than before, while the tax bills of 90% of purchasers would be cut or stay the same.'
For the fifth time in six years, Caxtons is delighted to have won the coveted property industry award 'EGi Deals Winner Kent' in 2016.
This award is based on the number of completed commercial property sales and lettings achieved in the preceding twelve-month period.
James Roberts, Caxtons' commercial agency manager in Canterbury said, "Once again, this strengthens our position in the commercial property market place and demonstrates that we consistently outperform our competitors.
"While property in general has produced improving returns in recent years, the commercial market proved to be less attractive as an investment. The lack of certain types of property has been difficult, and speculative development is still viewed as a risk. However, of late, commercial property has regained the ground it lost during the recession and prices have reached their peak of 2008."This improvement in the commercial market may reflect changes to stamp duty and the withdrawal of tax relief on mortgage interest rates due to impact the residential buy to let market."
Against all the odds, Caxtons improved on the high level of activity it was able to achieve in 2015, and the Caxtons'
Estates Gazette is the well respected, leading national property publication and its EGi website attracts more people seeking business premises than any of its competitors.