Penalise landlords to give first-time buyers investment opportunity
18th September 2008
The government has been urged to adopt measures designed to ensure first-time buyers have a fighting chance when it comes to property investment such as the introduction of a super-tax for one and two bedroom properties.
According to FirstRungNow, placing such a tax on the purchase of one and two bedroom properties and any future rental income they generate would discourage investor landlords from taking everything on the market.
"A lot of one and two bedroom properties are going to investor landlords who are making money out of first-time buyers who can't afford to buy," said managing director Helen Adams.
"We would like to see the landlord penalised so that those properties can be left for first-time buyers."
She also called on the abolition of any stamp duty for first-time buyers saying the current cap on properties below £175,000 was "better than nothing, but it doesn't really help that many people."
According to Mouseprice, the percentage of total housing stock worth less than £175,000 stands at 48.6 per cent.
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UK Property Investment
18th September 2008
The government has been urged to adopt measures designed to ensure first-time buyers have a fighting chance when it comes to property investment such as the introduction of a super-tax for one and two bedroom properties.
According to FirstRungNow, placing such a tax on the purchase of one and two bedroom properties and any future rental income they generate would discourage investor landlords from taking everything on the market.
"A lot of one and two bedroom properties are going to investor landlords who are making money out of first-time buyers who can't afford to buy," said managing director Helen Adams.
"We would like to see the landlord penalised so that those properties can be left for first-time buyers."
She also called on the abolition of any stamp duty for first-time buyers saying the current cap on properties below £175,000 was "better than nothing, but it doesn't really help that many people."
According to Mouseprice, the percentage of total housing stock worth less than £175,000 stands at 48.6 per cent.
Daily News Brought to You by The SimpliGroup – Experts in the UK Property Investment Market
Are you looking to invest in a property in the UK? Simpli Group Property has a selection of properties that will make you a great return on investment. Speak to our property experts.
<< Back to News