HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Unveiling its policy plans as the Conservative Party conference began yesterday, the government said it would begin consultations on Sunday to increase the stamp duty on individuals and companies not paying tax in the UK.
Chancellor Rishi Sunak has extended the stamp duty holiday in the Budget. Anyone buying a home worth up to £500,000 before the end of June will now not pay the tax, and could save up to £15,000, with a reduced discount available until the end of September.
Of 18 areas we looked at, the best value for those wanting to rent is Chatham, on the Medway estuary in North Kent. For those wanting to buy a two to three bedroom house or flat, Chatham also turns out to be the most affordable.
According to a recent report, around 5 million UK households, or 21% of the total, are in private rented accommodation. This is set to rise to 5.79 million (or 24%) over the next five years.
The unstable pound has contrived to aid the property market after Brexit, as overseas investors have made an ever-increasing number of overtures and investments in British property.