D_Property

More than 92 per cent of landlords believe the government is anti-landlord and want the Chancellor to back them in this week’s Autumn Statement.

A snap survey conducted by Martin & Co – the UK’s largest lettings and property management franchise business with 190 offices – reveals the anger felt by the majority of landlords surveyed by the agency.

Some 783 landlords responded and the most vociferous comments came from those who have been landlords for less than five years and own five or fewer investment properties.

More than 74 per cent of landlords would like to see this year’s stamp duty surcharge on additional properties to be scrapped; more than 50 per cent want the Chancellor to reverse changes in mortgage interest tax relief, which come into force in April 2017.

A majority of landlords surveyed – 61 per cent – felt uncertain about the outlook for the property market in 2017, though the majority of negative responses came from landlords who have owned investment properties for less than five years.

The flip-side is that long-term landlords feel more secure within the UK buy to let sector.

“The government seems to be set on making life as difficult as possible for property investors, while ignoring the fact that landlords provide essential rental properties in locations where there are housing shortages and no realistic ability to buy” explains Ian Wilson, chief executive of Martin & Co.

“People are relying on the private rented sector to supply property, so we need the Chancellor to back our landlords and encourage them to continue to invest and provide a vital pipeline of homes for people who simply cannot afford to buy.

One landlord commented: “Why make it more difficult for landlords when the UK has such a shortage of affordable rentable properties? It will just put off landlords.”

Another landlord said: “In a period of housing shortage, the government should be encouraging investment. The policy is flawed because it assumes that everyone wants to buy which, for a variety of reasons, is not true.”

When asked whether the planning system should be changed to encourage more Build to Rent development, the newer landlords were in favour of this, with the largest group in favour based in the south east.

One landlord stated: “Any system which increases the quantity of high quality of rental accommodation must be good for the country.”

Source: www.lettingagenttoday.co.uk

November 22, 2016
london-140785_1920

Top agency says government seen as anti-landlord, pure and simple

More than 92 per cent of landlords believe the government is anti-landlord and want the Chancellor to back them in this week’s Autumn Statement. A snap survey conducted by Martin & Co – the UK’s largest lettings and property management franchise business with 190 offices – reveals the anger felt by the majority of landlords surveyed by the agency.
November 22, 2016
cabin-1763512_1920

Further calls for government to cut stamp duty

There have been further calls for the government to scrap recent changes to stamp duty today as the latest reseach from Stirling Ackroyd suggests that stamp duty must be cut to get the property market moving. According to the report, house prices at the top of the London property market have been hammered by George Osborne’s stamp duty reforms, with the west London enclaves of Kensington and Notting Hill – the former Chancellor’s home – seeing the biggest price drops.
November 21, 2016
building-1149413_1920

House price growth flattens in October

According to the latest data released this morning from Halifax, house prices in the three months leading to October are 5.2% higher than in the same period a year earlier. This compared to 5.8% in September and continues the downward trend seen over the past six months after the annual rate reached 10.0% in March. October’s 5.2% is the lowest yearly growth rate since July 2013 (4.6%).
November 21, 2016
js52672258

Survey suggests stamp duty is significant barrier for first time buyers

Would be first time buyers believe that not having to pay stamp duty would make buying a home more affordable as the property tax is a significant barrier to doing so, a new poll shows. Some 60% of those looking to get on the housing ladder in the UK said paying no stamp duty would make it more likely they could buy their first home while 22% said it would not make a difference, according to the YouGov survey for Yorkshire Building Society.
November 18, 2016
js60725005

Remortgages drive growth in UK home lending market

Gross mortgage lending in the UK held steady in October but is being driven more by remortgages than new buyers due to a lack of supply in the current housing market. It reached an estimated £20.6 billion, according to the latest figures from the Council of Mortgage Lenders and closely matches September’s gross lending total of £20.5 billion, but is 5% lower than October last year when it was £21.8 billion.
November 18, 2016
home-1596607_1920

Property prices went up in September due to more enquiries and fewer listings

Prices for property in the UK continued their rise in September as interest from new buyers increased slightly whilst the number of homes being listed for sale dropped. On average, a property in the UK was £217,888 in September, with statistics showing a 7.7% increase year-on-year. Property prices increased by 0.2% between August and September, the Office for National Statistics (ONS) revealed. The ONS said the numbers for September “suggested a period of relative stability during the month”. The ONS referred to data by the Royal Institution of Chartered Surveyors stating that there was a modest increase in enquiries from buyers, furthermore, the number of lending approvals also experienced a rise. The ONS also leaned on…
Restricted Content
The contents of this website are intended only for investors from certain qualifying classes (“High Net Worth Individuals”, “Self-Certified Sophisticated Investors” and “Restricted Investors”). To access the full contents of the site you must first register in one of these categories.
Please confirm that you are a suitable investor before proceeding. If you are unsure whether you meet the specific criteria or not, you can check the definitions here.
Will be back soon