The UK housing market has seen a rise in demand, on the back of the Governments recent announcement that stamp duty is set to increase for buy to let investors, the RICS latest housing market survey has revealed.
The survey shows the amount of new properties has reached a three month high with Chartered Surveyors, starting a rush to beat Aprils stamp duty rise.
From April 2016 buy to let investor will be required to pay 3% more stamp duty charges than residential buyers looking to purchase the same home. Partner Robert Jones, of Boxall Brown and Jones Survey Department commented:
“ the December Market has been far busier than usual as stamp duty changes which are due to begin in April have encouraged residential investor landlords back into the market. As both residential property managers and valuation surveyors, Boxall Brown and Jones are perfectly placed to advise investor landlords looking to grow their property portfolio.”
Robert also advised that the RICS Homebuyer Report continues to be the most in demand type of survey and valuation for the residential buy to let market. “The advantage of this type of survey is the combination of the detail in the survey and the advice on repairs. It helps prospective landlord’s to understand whether they are buying a sound investment.”
More information can be found on the Boxall Brown and Jones website or by contacting the office on – 01332 383838