The main fear for the private rented sector, and for those selling homes to investors, was an exodus of buy to let investors if they were hit with a Capital Gains Tax (CGT) rise from 18% to 40%. Thankfully George Osborne was more modest in his actions and increased CGT to 28% and only then for higher rate taxpayers.

Liz Peace, CEO of the British Property Federation, said, “Simplifying the CGT rise to 28 per cent by not tinkering with taper or indexation relief shows a welcome desire to keep things simple. Thankfully, the rate of CGT has not been brought into line with higher rate tax levels but this is something that many will not be happy about. Particularly, buy-to-let investors who have propped up the housing market over the last 20 years will suffer and this could hit the future supply of rented housing.”

Andrew Sainsbury of GO Lettings in Leeds commented, "Letting agents across the country are reporting shortages in good quality properties to let and with fewer new landlords entering the market, this will inevitably put pressure on rent levels. In some areas, we have seen sizable rent increases this year – a welcome bonus to landlords in the current climate".

Click here for a summary of the implications of the Emergency Budget on the Private Rented Sector

Free Instant Valuation

Want to know how much your home is worth? Find out in an instant...

Click here

Testimonials

  • Claire O'Neill - Landlord and subsequently Vendor

    A huge thanks to the team at Granger & Oaks - they were a pleasure to deal with and I would have no hesitation in recommending them . Granger & Oaks managed my letting READ MORE

  • Mr Wotjak - Tenant, Purchaser & Landlord

    "I am in the unique position to have been involved with Go Property as both a tenant and as a landlord and in both cases have found their services to be excellent. They have READ MORE

  • Mr Sansom - Landlord

    "Being a landlord myself wih several properties managed by various agents arouind the country I would have to save without a doubt that GO have been the best a long shot. They READ MORE

More

LATEST NEWS

  • Landlords Electrical Safety Testing

    16/01/2020

    After many years of talk, legislation surrounding the compulsory electrical safety testing of privately rented property finally looks like it is going to introduced in 2020.  It is propsed that READ MORE

  • Marriage Value - Lease Term Extension

    08/01/2020

    Owners of leasehold flats are being warned to look out for the expiry date of their properties lease after a BBC story uncovered the practice of freeholders adding 'Marriage Value' to leasehold READ MORE

  • Hotpoint & Indesit Washing Machine Safety Recall

    18/12/2019

    Whirlpool, the makers of Indesit and Hotpoint washing machines, are carrying out a huge recall of certain models due to safety issues around the door locking mechanism. We are asking all tenants to READ MORE

View all news