Stamp Duty Land Tax Cut - Comment from Letting Focus
The decision to cut stamp duty for properties up to £175K will help revive the property market, especially outside London.
Many property investors buy smaller properties priced at around this level and whilst some professional investors may have been tempted to wait for more bad economic news to come out and for property prices to drop further, this welcome fillip from the government could mean that the bottom for house prices could now be as near as 6-9 months away. Obviously, exactly when the bottom will be reached all depends on area and type of property.
Alongside this, there are also signs that the mortgage market is unfreezing a little as lenders begin to compete for mortgage business. Savvy property buyers will know this and I expect to see more activity now and into early 2009 as smart buyers try to buy property at prices which have not been available for 2 or even 3 years.
OFFERS ON OUR NEXT EVENTS
Come to my next Evening London Seminar and Networking meeting – details here… Property Seminar and Networking. Just email us at david@lettingfocus.com and give us your full name – and that’s it. Then just turn up and pay (£25) on the night.
This is our second blog today. Read the other one below!
Many property investors buy smaller properties priced at around this level and whilst some professional investors may have been tempted to wait for more bad economic news to come out and for property prices to drop further, this welcome fillip from the government could mean that the bottom for house prices could now be as near as 6-9 months away. Obviously, exactly when the bottom will be reached all depends on area and type of property.
Alongside this, there are also signs that the mortgage market is unfreezing a little as lenders begin to compete for mortgage business. Savvy property buyers will know this and I expect to see more activity now and into early 2009 as smart buyers try to buy property at prices which have not been available for 2 or even 3 years.
OFFERS ON OUR NEXT EVENTS
Come to my next Evening London Seminar and Networking meeting – details here… Property Seminar and Networking. Just email us at david@lettingfocus.com and give us your full name – and that’s it. Then just turn up and pay (£25) on the night.
This is our second blog today. Read the other one below!
Labels: mortgage lending, stamp duty, Stamp duty land tax
This entry was posted by lettingfocus, on
Thursday, September 04, 2008.
