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

  • Mark Thompson - Landlord & Vendor - May 2018

    Excellent - We cannot fault the service they have provided us.This review is for both Landlord services as well as Estate Agents.Granger and Oaks have provided us with an READ MORE

  • Martin Holtom - Tenant - June 2020

    Excellent service, nothing is too large or too small to help with. Only an email or phone call away come flood or Honey Bee nest. Friendly and helpful. Thoroughly READ MORE

  • James Steeley - Vendor - June 2019

    Excellent and courteous service for my house sale, from start to READ MORE

More

LATEST NEWS

  • Nottingham Area Letting Agent Market Update

    24/09/2020

    Nottingham Area Letting Agent Market Update   The Nottingham rental market shows no sign of slackening off despite concerns surrounding Covid 19. After an understandably quiet spring, the READ MORE

  • The Architects The Built Nottingham

    22/07/2020

    As with most cities around the country, property in Nottingham is a patchwork of eras with a broad spectrum of styles along the way. Nottingham is a historic city dating back to Norman times, and the READ MORE

  • So What Is Nottingham Famous For?

    08/07/2020

    How well do you know your Nottingham legends?  Nottingham is a growing city with a proud heritage and its fair share of famous names that you may or may not be familiar with. We wanted to take READ MORE

View all news