Capital gains tax is reduced: Good news if you are selling and buying
The Chancellor, Jeremy Hunt, announced in the budget that capital gains tax will be reduced from 28% to 24% in April.* So, if you are selling a property that is not your main residence, you will pay less tax. This could increase market activity and the supply of homes, which is good news for homemovers, first-time buyers, and some landlords thinking of selling.
Holiday lets tax breaks scrapped: Good news for landlords and tenants
The Chancellor announced that he will scrap tax breaks that make it more profitable for second homeowners to rent out their properties as holiday lets instead of letting to long-term tenants. This should encourage more buy-to-let investment, which is good news for tenants and landlords, increasing opportunities for both.
Stamp duty relief scrapped for multiple purchases: Good news for homemovers
Stamp duty relief is being scrapped for property transactions from June 1st for people buying more than one dwelling at the same time. This may also help increase the supply of homes in the UK property market for homemovers, which in turn could also help to increase the number of property transactions, helping to keep the market buoyant.
Zoopla*
