Friday News 26th February 2021
This week leaked information told The Times that the Chancellor, Rishi Sunak is intending to extend the UK’s current stamp duty holiday by an additional 3 months, running the temporary reduction until the end of June 2021. The official confirmation of this happening is yet to take place though it is expected to be included in the Spring Budget next week.
An extension of the stamp duty holiday would be well received by many intending to buy a home in 2021 and by landlords who might choose to restructure their property ownership during the temporary reduction in applicable taxes.
Whilst an extension to the stamp duty holiday will be welcome, in many cases we are seeing other benefits outweighing this saving for investors who are strategically purchasing with long term vision.
Here’s what we’ve seen in the news:
Three in five multi-property landlords take advantage of stamp duty holiday: As many as three in five (60%) multi-property landlords have expanded their property portfolio since the introduction of the stamp duty holiday in July 2020. Read more.
Stamp duty holiday will be extended to end of June: Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of June in an attempt to keep the property market firing as Britain emerges from lockdown. Read more.
A landlord’s guide to coronavirus: your questions answered: The buy-to-let market is under pressure as tenants struggle to pay their rent. How can landlords navigate the crisis? Read more from the Telegraph.
Tenant demand hits five-year high, but regional disparity grows: Tenant demand reached a five-year high during last year – the highest level since the first quarter of 2016, as almost a third of landlords reported rising levels of enquiries for rental accommodation. Read more.
Is off-plan still an attractive investment? Across the world, the new build property markets are very different and investors will often wonder if off-plan is still an attractive investment? Read our latest blog to learn more.