Property explosion on Rightmove?

abaxas

clutton wrote: »

""I was wondering if those BTL landlords/ property developers are jumping the gun to market their homes before the capital gains tax changes in April.""

at the moment CGT is 40% - chancellor said last october he was reducing it to 18% in April 2008 - and this week he changed it again to 9% with some taper relief back (i think !) - so if i choose to sell, it certainly would not be before April !!!

Like every other BTler, he'll have to wait until April to liquidate his BTL property.

I wonder what tie in he has with the NR mortgage on it? And, of course, I dont beleieve in any foul play at all......

Kez100

clutton wrote: »

""I was wondering if those BTL landlords/ property developers are jumping the gun to market their homes before the capital gains tax changes in April.""

at the moment CGT is 40% - chancellor said last october he was reducing it to 18% in April 2008 - and this week he changed it again to 9% with some taper relief back (i think !) - so if i choose to sell, it certainly would not be before April !!!

You are right. It's many businesses that will be better of before April (and some still will be even with yesterdays changes). Investors will be better off after.

King_Of_Fools

I have been monitoring the properties in the CB1 postcode on Rightmove for a year now so I can confirm your theory.

A year ago there were 124 properties for sale in CB1. This has increased 107% to 257 today!

Debt_Free_Chick

With properties taking on average about 3 months to complete, maybe the BTLers are marketing now, in order to complete soon after April

m00m00

I'm monitoring 2 postcodes, NG8 and NG15

in the past 2 days using the property bee tool, I've spotted more than 30 reductions, with the most common reduction being 5k.

there's been no huge increase in numbers, it looks like kiteflyers have gone, to be replaced by people who actually want to sell

Doozergirl

Debt_Free_Chick wrote: »

With properties taking on average about 3 months to complete, maybe the BTLers are marketing now, in order to complete soon after April

I have seen one that says 'completion after 01/04/08' so maybe.

If CGT were my motivation for selling, Id get in there about now.

PasturesNew

I've not noticed, but I don't subscribe

And I am not really looking FOR a house, just randomly looking AT them. So numbers available are not registering in my head.

I too am using property bee - and I actually found some price increases. There is a whole new development somewhere (the foundations haven't even been dug out yet) and yet all of them have had £15-20k put on their prices this week "off plan". Which is about 8%

The area that is in, TR7, is a peculiar market. They say (the media do) that the area is still up, up, up .... but driving round there I see empty, empty, empty. So I think that seller is off his head. I think what is for sale in TR7 will just sit there all summer then suddenly all bomb together when they ALL realise NOBODY sold all year.