Published by: Alex Maile
It’s September and it’s business as usual with everyone back at work and school. And it’s going to be an interesting time for the property industry over the next couple of months.Since the base rate came down, there has been something of a bounce in the sales market, especially as mortgage rates are continuing to fall. Both house prices and activity levels have increased, with Halifax reporting house prices were up by 0.3% in August.
Those rises, however, are being kept in check by concerns over what might be in Rachel Reeves’ budget as she looks to fill her much publicised £22bn black hole.
For landlords, this month has also seen the introduction of the Renters’ Rights Bill. It still has some way to go before it passes into law, but the key details are outlined in this month’s ezine. If you need any more information or want some advice, please feel free to give me a call.
We will, of course, keep you up to date with any new developments in the budget. It looks very likely though that capital gains tax will rise to align with income tax bands. It will mean, for many landlords, that it makes more sense to sit tight rather than sell up, as the cost of exiting will increase substantially.
Well, that’s it from me for now. With so many changes going on, I am only a phone call away, so feel free to get in touch if you need any help or advice. Otherwise, I’ll be back again next month.