Buy-to-let landlords rush to sell before capital gains tax rise

Malcolm.

dopester wrote: »

It's difficult to calculate the impact of BTL on house/land values. It's complicated and I wouldn't like to try and isolate BTL on prices alone.

Spot on dopester. It's good to see some posters taking up a sensible position.

boomerangs

Gorgeous_George wrote: »

It should be the tenants who are paincking. Where will their next home come from?

The tenants become homeowners. Everyone's a winner, except the BTL Landlords of course.

IveSeenTheLight

boomerangs wrote: »

The tenants become homeowners. Everyone's a winner, except the BTL Landlords of course.

boomerangs wrote: »

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Not all tenants can afford to buy.
What about those that want to buy but are still living at home with their parents.

In theory, a reduction in rental property will likely mean a strengthening or rising in rents

MatteH

I've never seen so many 1-2 bed flats & houses up for sale in Oxfordshire. A lot of them are no chain/empty.

new_home_owner_3

they are bringing the new capital gains increase in, but i have read you will only pay the full 40 percent if you are making short time gains, infact i read somewhere if a btl landlord owns the property for over 10 years they wont pay any capital gains, and there was talk of it being bought down to 5 years.

If this happens surely it will encourage landlords to hold onto their properties, who knows we will all have to wait and see.

http://www.telegraph.co.uk/news/newstopics/politics/7740305/It-is-unfair-to-punish-long-term-investors.html

PasturesNew

A lot of BTL landlords are "BTL Holiday homes" though .... for the past X weeks, daily I've logged onto RM to see "all properties in the past 24 hours for my whole county". Every day this gave me 100 results.

This week it's gone up, significantly. I've had 140 on Thursday, 170 on Friday.

Loads and loads of empty holiday BTL flats and houses where I live......

One particular holiday-restricted site I've always had my eye on since 1999, prices were £25-30k in 1999/2000 and up to £120k for the older places. Prices have recently been dropping and the latest one to go to market is now £35k (they're all the same and prices have usually always been consistent).

In 2006/2007 they were promoting a new development on the site, prices were £140k and they're 4-bed detached new build holiday-restricted places.... they're now coming to market at about £80k. There are some regular sellers, pricing them at the peak prices ... alongside some "shfit it quick" sellers.

I should go take a look .... I've heard a rumour that there are some people living there, you only have to move out for a month a year or so, although the lease says differently I think if you keep your nose clean it's not mentioned (the council even put a family in there at one point because there's nowhere to put people in urgent need of housing).

Gorgeous_George

We seem to believe that all/most tenants want the responsibility and hassle of home-ownership.

IMHO, many do not.

It'a all Thatcher's fault.

GG

StevieJ

new_home_owner wrote: »

they are bringing the new capital gains increase in, but i have read you will only pay the full 40 percent if you are making short time gains, infact i read somewhere if a btl landlord owns the property for over 10 years they wont pay any capital gains, and there was talk of it being bought down to 5 years.

If this happens surely it will encourage landlords to hold onto their properties, who knows we will all have to wait and see.

http://www.telegraph.co.uk/news/newstopics/politics/7740305/It-is-unfair-to-punish-long-term-investors.html

So when did the Telegraph become responsible for creating the budget

carolt

Gorgeous_George wrote: »

We seem to believe that all/most tenants want the responsibility and hassle of home-ownership.

IMHO, many do not.

It'a all Thatcher's fault.

GG

Who is 'we'?

I certainly don't think all currrent tenants want to be owners now. Equally, I certainly do think that there are many tenants (such as myself, for example) who would like to be owners.

I don't think anyone actually believes no-one ever wants to rent; there are times in people's lives when it can be suitable. But as a long-term measure, I can't believe anyone would opt for private tenancy over a council tenancy or owning, as there is no security of tenure. In this country, currently, at least.

PasturesNew

I would be a tenant if the rents were affordable and tenure longer, but they're not. It takes a couple to afford to rent these days!