Even with Profit-Sapping Tax Change, Landlords Remain Upbeat on Investments

Changes in mortgage tax relief that could mean lower profits are not deterring landlords around the UK from divesting of their property portfolios. And many are even considering expanding them as they snap up houses for sale in London and elsewhere, according to new research and a number of studies. The optimistic outlook among landlords comes despite a general slowdown in rents that could further sap earnings and a housing crisis that seems to be getting worse. According to the National Association of Estate Agents, eleven would-be buyers are battling to purchase every new house or flat that enters the market, as the number of properties available continues to fall. Meanwhile, those involved in the thriving buy-to-let market will be hit by the government’s new tax measures that come into force on April 6. Announced by the previous government in the Summer Budget two years ago, the measure is aimed...
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We Must Tackle The Housing Crisis – Lords Economic Affairs Committee

  The Government must lift its target by 50% and build 300,000 homes each year to tackle the housing crisis. · Local authorities and housing associations must be freed to build substantial numbers of homes for rent and for sale. In their report, Building More Homes, published today, the cross-party House of Lords Economic Affairs Committee criticises the Government’s housing policy for: · Setting a new homes target which will fail to meet the demand for new homes or moderate the rate of house price increases. · Restricting local authorities’ access to funding to build more social housing. · Creating uncertainty in the already dysfunctional housing market by frequent changes to tax rules and subsidies for house purchases, reductions in social rents, and the extension of the Right to Buy. All of these changes reduce the supply of homes for those who need low cost rental accommodation. · A narrow...
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