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Posted at 19/3/2016 14:09 by cautious7 Breaking:From express.co.uk =============== We are hoping to buy another proeprty withing the nex few weeks as prices head south and then hold out for a few years for a good profit, heopfully =========== Surveyors expect a drop in property sales from next month when an extra three per cent tax on landlords and second home buyers takes effect. The Royal Institution of Chartered Surveyors (Rics) sent out a warning the tax changes were to have a major impact. Rics chief economist, Simon Rubinsohn, said: "It is inevitable that over the coming months, April's stamp duty changes will take a little of the heat out of the investor market." The survey showed house prices across the country broadly increased in February, with buyers rushing to beat the end of March deadline to complete. But in London values failed to rise, and for the first time in a year more surveyors now think house price will drop in the capital over the coming three months. At an average £530,409 prices in the capital are almost three times the national average of £191,812. Rics' report said: "Anecdotal evidence suggests tax changes, concerns over Brexit and global economic uncertainty are all taking their toll on buyer sentiment........... fulll atricle in the express.co.uk |
Posted at 13/3/2016 16:46 by cautious7 From the BBC - A much respected news source:==================== The pace of house price rises will slow when tax changes "take the heat out" of interest from investors, surveyors suggest. The Royal Institution of Chartered Surveyors (Rics) predicted that the UK housing market will slow down over the next three months. In April, landlords and second home owners face a 3% stamp duty surcharge on new purchases. This would slow price rises, Rics said, but only in the short-term. Surveyors still expect house prices to rise by 25% over the next five years. 'Surge' "Over the past three months, we have witnessed a surge in buy-to-let activity," said Simon Rubinsohn, Rics chief economist. "Investors have rushed to purchase homes before the stamp duty surcharge comes into effect. It is inevitable that over the coming months, April's stamp duty changes will take a little of the heat out of the investor market. "While there remain significant doubts as to whether the government's plans to encourage a more robust development and construction pipeline will be sufficient to address the housing crisis, long-term price indications for the housing market remain strong." East Anglia saw the most widespread house price rises in February, Rics suggested. Other surveys have suggested a pick-up in activity by landlords ahead of the stamp duty rises, but there is some disagreement among commentators over what effect this is having on the UK housing market as a whole. |
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