Estate agents predict sales surge ahead of stamp duty rise

Estate agents predict sales surge ahead of stamp duty rise

Midland estate agents are predicting a surge in Spring-time sales in the buy-to-let market ahead of changes to the levels of stamp duty.

The move, announced by Chancellor George Osborne in the government’s Autumn Statement, together with reductions in tax relief for landlords, is expected to raise an extra £1bn for the Treasury by 2021. But it has been heavily criticised by landlords.

According to Midland estate agents, it will slow the buy-to-let market down - but may be good news for first-time buyers.

Oliver Knight, a Director of Situ Homes, said:

“In 2015, landlords accounted for one in four property sales. After April, we expect this to reduce significantly, perhaps paving the way for more first time buyers to secure a home.”


The group’s Chairman, John Ozwell, said:

“We are expecting a flurry of investors buying property to let before April because of the changes introduced by the Chancellor in the autumn statement. It will be a busy start to the New Year for the property market across the region.

“We expect sales and listings to be running at the same level which we have experienced since last summer, or perhaps slightly up on that.

“2015 was a good year for the Midland market. In 2016, property prices are expected to keep rising, by approximately 4% to 5%. There will continue to be shortage of stocks throughout the UK, particularly properties for first-time buyers, making the market even more competitive and driving up sales and prices.

“With interest rates forecast to stay low throughout the year - possibly just seeing a small rise - banks and building societies will have even better deals available, again strengthening the market here in the Midlands.”

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ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

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NathanGreen
NathanGreen 16 Jun 2016

Seeing that the tenants are quite satisfied with their landlords and the properties is indeed great. I wonder, though, what is the situation in London alone? The tenants face sky-high rent levels in the...

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AndiMur
AndiMur 15 Jun 2016

TheGuardian published the same forecast. But on the other hand, professional brokers express different opinions. According totranio.com, an exit from the EU would not affect the demand/supply imbalance...

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Gary Holmes
Gary Holmes 14 Jun 2016

Having a professionally completed inventory at check-in and check-out is clearly (to me at least) of minor value. Tenants make un-authorised modifications and/or walk off with items that belong to the

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Violet Gibson
Violet Gibson 14 Jun 2016

Cautious people think buying off-plan is reckless, but over the past few years investors have literally made fortunes.Pre-release prices have obvious benefits for the developer, who gets instant finance...

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Kate Windleton
Kate Windleton 14 Jun 2016

An interesting research indeed. I guess that is in complete contrast with the United States where people often move from one coast to another. It will be interesting to hear the trends for people moving...

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NathanGreen
NathanGreen 14 Jun 2016

I think it all depends on the market conditions and how well your company is doing. You will agree that you can't demand more when you're killing yourself just to hang in there. Sometimes you need all

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ChristinaReedUK
ChristinaReedUK 13 Jun 2016

What does "detecting a bad vibe" mean actually. I've had certain vibes like these and yet have always found a reason , if there's any, why I don't like a certain property. The property maintenance might...

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keybanks estates
keybanks estates 08 Jun 2016

Great News for first time buyers, about time two!

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NathanGreen
NathanGreen 07 Jun 2016

I agree with #6 - you should maintain your garden according to the target buyer. One thing is universal, though - cleanliness and order. Having the yard clutter-free and clean will help people who do enjoy...

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NathanGreen
NathanGreen 06 Jun 2016

I will always say that London is overrated. Sure it is the capital, but it's too stuffed in there. It's more of a business city to me.

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Paul
Paul 25 May 2016

Estate agents are pathetic when it comes to fees. They have this 'I had to do it at 1% because that's what the others were quoting' mentality. We are the most expensive agents in our area, charging double...

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