Buy-to-let surcharge boosts housing demand

Buy-to-let surcharge boosts housing demand


Todays other news

Mortgage shock ahead as rates set to rise

Major lenders reprice deals as swap rates climb, adding further...

Back to school rush as 54k homes hit market

Yopa reports a sharp rise in English housing stock following...

Total bridging completions to hit £8bn by year end

Octane Capital predicts a market rebound following a slower start...

Instant offer for urgent buy-to-let mortgage

Technology helped a landlord secure rapid refinancing after switching from...

Five broker assumptions challenged

Saffron urges advisers to look beyond standard criteria when assessing...


Chancellor George Osborne’s looming stamp duty surcharge is driving housing demand as buy-to-let investors rush to beat the tax hike.

Advertisement

The latest RICS UK Residential Market Survey for December, published today, showed demand for properties leapt to a three-month high.

Advertisement

Surveyors and estate agents say this has been driven by a jump in interest from buy-to-let investors.

From 1 April, investors will be required to pay 3% more in stamp duty than residential buyers looking to purchase the same home.

Since the Chancellor announced these measures in his Autumn Statement last November, 16% more chartered surveyors have reported a rise in new buyer enquiries.

RICS chief economist Simon Rubinsohn said the housing market enjoyed an unusually buoyant December.

“Potential buy-to-let investors are looking to pick up properties before the increased stamp duty levy comes into force in April.

Advertisement

“If that is the case, then we can expect to see the housing market heating up further over the next few months.”

Chartered surveyor Robert Green of Chelsea-based estate agent John D Wood & Co. said:  “December was busier than normal as stamp duty changes have brought buyers back to the market.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Introducer Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Stormy weather for homebuyers but forecast is brighter

Home buyer demand dips as purchase patterns shift across England

The study also reveals a clear north-south divide...
Brokers angry at lenders’ “brutal” buy to let arrangement fees

Landlord exodus from buy to let slows as reform deadline nears

Goodlord gathered views of over 1,200 landlords based across the...
Warning of UK developers edging towards receivership 

House-building shock as construction sector “collapses” say experts

Glenigan's April Construction Index shows work starting on-site declined by...
First-time buyers face record prices as sales recover

Nationwide warns of impending affordability crisis thanks to War

UK economic growth is likely to be slower and inflation...

Biggest decline in mortgage rates since October 2024

Mortgage rates recorded their biggest monthly fall since October 2024...

More mortgage rate misery to come

Rising swap rates are pushing lenders to reprice fixed deals,...

A million homeowners face £283 monthly mortgage hike

More than a million homeowners who took out mortgages in...
Recommended for you
Latest Features

Mortgage shock ahead as rates set to rise

Major lenders reprice deals as swap rates climb, adding further...

Back to school rush as 54k homes hit market

Yopa reports a sharp rise in English housing stock following...

Total bridging completions to hit £8bn by year end

Octane Capital predicts a market rebound following a slower start...
Sponsored Content

95% LTV Second Charge Mortgages, NO ERC’s and Fixed Rates starting from 3.65%

Historically second charge mortgages or secured loans as they are...

One low rate

Lenders must say what they mean and mean what they...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.