Hips and CGT dominate property market
Online property sector leader Rightmove has today confirmed a 22% increase in the number of properties for sale after the UK government abandoned home information packs. However, there is a growing belief that the increase in properties for sale may also have something to do with forthcoming changes in the capital gains tax regime which could see landlords taxed more heavily upon the sale of their properties.
Whether or not an increase in properties for sale will actually increase demand for UK property remains to be seen as there is a chance that more property for sale could soften prices. What we need to see is an increase in liquidity in the UK mortgage market as a means of tempting first-time buyers and secondary buyers back into the marketplace. It will be interesting to see if this increase in properties for sale continues for the remainder of 2010 and what impact this eventually has upon property prices.
The UK property market is proving very difficult to predict and forecast due to a number of external factors which appear to come and go on a regular basis. While there is little sign of prices softening at the moment this may change in the latter part of 2010.
Share this..
Related stories
Government Fights Back In Housing War Of Words
As the housing market continues to crumble the government has become embroiled in a war of words with those operating in the property sector. Fighting claims that the decision to announce a possible suspension of stamp duty and then pull away for following through with the move until the autumn has frozen the market, the authorities claim the market has been in free fall for some time.
Government Figures Confirm Property Market Slump
House sale data from HM Revenue and Customs (HMRC) have revealed that the UK housing market has seen a sharp fall in transactions over the last 12 months. Figures for the first 5 months of 2008 show there were 504,000 sales above the £40,000 stamp duty threshold, a fall of over 30% from the 743,000 sales confirmed for the same period last year.
Alarmingly the figures also show s...
Why do we depend so much on the property market?
While we have touched on this subject in some of our earlier post it is still a subject which confuses and annoys some people. Why do we really depend upon the property market so much? Why is it such an integral part of our lives?
There are many reasons why we depend on the property market which include:-
Some where to live!
While this may seem the mos...
Persimmon positive on 2010
UK housebuilder persimmon has confirmed that the outlook for 2010 is much more positive than 2009 with £500 million in sales already taken for next year. The order book looking forward is very healthy and the company is cautiously optimistic about the short, medium and long-term situation in the UK. However, there are potential problems on the horizon.
Persimmon, while being upbeat...
Brits opt for home improvements to add value
More homeowners than ever before are opting to fork out on home improvements in the hope of adding value to their property, according to research from Halifax.In the last year, a quarter of all homeowners undertaking home improvements did so specifically to add value to their home - up from just seven per cent last year - with over half believing the work would add up to £5,000 in value of their...
Read More