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georgina abrahams
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There will continue to be a shortage of houses for sale because of new tax rules and it will wrongly be blamed on Brexit! Retired people are trapped with houses they would like to sell because of new capital gains tax rules on properties they have owned for 30 years. Now because of no taper relief or indexation they need to find a large sum for CGT when they sell. They have re-mortgaged their properties to purchase further buy to let properties so have no equity to pay CGT. Anyway they cant sell the buy to let properties to other landlords because new rules have killed that market. So government income will plunge and many properties will not be available for first time buyers or families. Rents and house prices will have to rise.
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23 July 2016 11:25 AM
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From: georgina abrahams
23 July 2016 11:25 AM