Search Results for: landlords selling
-
Latest property news
Chancellor’s assault on buy-to-let “is mystifying”
The Chancellor George Osborne has been slammed for his outright assault on buy-to-let investors following the introduction of a stamp duty surcharge last week, while also exempting landlords from fresh cuts to Capital Gains Tax, and planning further tax increases on property investors. The former Editor of The Times and the London Evening Standard, Simon Jenkins (left), questioned in his latest column for The Guardian columnist whether George Osborne was really a Tory. He also described Osborne’s “assault” on buy-to-let as “mystifying”. He wrote, “With the withering away of public housing, private renting is how evermore people live, especially in cities. They include the migratory rich, millennials, those unable to afford a house and those who are just very poor and cannot get a council tenancy. Between 2001 and 2011, private renting in London went from 17 per cent to 26 per cent of the housing market, and is continuing to rise.” Jenkins believes that encouraging the release of under-occupied space is the one sure answer to the housing shortage, and the most efficient way of doing this is by encouraging letting, especially in London. “Renting is the most efficient use of urban property. It keeps things flexible. It is…
Read More » -
Latest property news
Budget 2016: Housing reaction
George Osborne’s eighth Budget was another intriguing one for the property market, particularly the residential market. He confirmed that the 3 per cent higher rate of stamp duty for those acquiring a second home or buy-to-let property will come into force at the start of April 2016, but he sprung an almighty surprise by announcing that larger investors will not be exempt from the higher stamp duty, as previously thought, which will apply equally for purchases by individuals and corporate investors. Although the Government’s reversal on the exemption for large-scale investors is surprising, it is unlikely to lead to a significant dampening of interest in the build-to-rent sector, according Gráinne Gilmore, Head of UK residential research at Knight Frank. She commented, “Bulk purchases of residential units at the lower value end of the scale will be most affected by the Chancellor’s move, which seems counter to the government’s pledge to provide more affordable housing. But the rental market is an entrenched and growing part of the UK housing market, and as such, institutional investment in this asset class will likely continue to grow.” It was also announced that home movers who have a period that overlaps between buying one property…
Read More » -
Features
What, exactly, is Purplebricks, Mr Bruce?
CEO Michael Bruce says that it shouldn’t be considered to be an online agent and explains why his company went for an AIM listing so early in its development.
Read More » -
Uncategorised
Crowded house
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “Supply is probably the single most feared issue in the property market. Buyer demand is strong, but the supply simply isn’t coming through. Agents may have to find ways of attracting new instructions.”
Read More » -
Regional Reports
Kent, Bedfordshire and Cardiff
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Kent, Bedfordshire and Cardiff.
Read More » -
Housing Market
Investors deterred by buy-to-let clampdown
For many people buy-to-let has been an attractive income investment at a time of low saving rates and stock market volatility. But with the Chancellor George Osborne making it his goal to create what he described as a “level playing field” between landlords and those buying homes to live in, many would-be landlords are now put off the idea of investing in property, new research shows. Around one in four would-be landlords have been deterred from the idea of investing in the buy-to-let sector by the Government’s proposed 3 per cent stamp duty surcharge, according to the study by online investment platform rplan.co.uk. The study has also shown that 9 per cent of UK adults have given up on aspirations to own a buy-to-let property while 30 per cent are still considering whether to do so. Some 14 per cent existing landlords say they will now sell one or more of their properties because of the new rules. In his Autumn Statement last year, the Chancellor announced that a 3 per cent rise in stamp duty for buyers of second homes and buy-to-let landlords will come into play from April, almost trebling the purchase tax on a typical £275,000 buy-to-let…
Read More » -
Adam Walker
What makes a business valuable to a buyer?
You want to sell your business but it’s not happening. What, asks Adam Walker, can you do?
Read More » -
Agencies & People
Leaders expands into Essex
Leaders has added five new branches to its network following the acquisition last week of More Estate Agents in Essex. The deal gives Leaders their first ever branches in Chelmsford, Braintree, Colchester, Dovercourt and Clacton-on-Sea; the company’s total network now spans 115 offices across the country. “We are delighted to have taken our first steps into Essex, which we believe to be an important and prosperous market,” said Kevin Shaw (left), National Sales Director at Leaders. “We have been known for our expertise in the lettings market for more than three decades and in recent years our sales business has also grown at a rapid rate, giving us a similarly strong reputation in this area. This acquisition will allow us to continue to roll out our range of services to sellers and landlords,” he added. Many of More’s members of staff, including Co-Owner Dean Phillips, will remain with the firm, having joined Leaders under the Transfer of Undertakings (Protection of Employment) Regulations 2006, otherwise known as TUPE. This should help Leaders get off to a strong start in developing their sales service in Essex, according to Shaw. Leaders’ arrival in Essex comes on the back of a busy 2015 in…
Read More » -
Features
Auctions under the hammer
What sort of year did the industry enjoy (or not) during 2015 and what will 2016 hold? Nigel Lewis reports.
Read More » -
Agencies & People
Ready, steady, …GO!
Countrywide won Employer of the Year at The Negotiator Awards 2015, and the man who recruits, develops and promotes its employees, has some advice for bosses (and candidates) who want to get ahead in the New Year.
Read More »
