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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.

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