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Increase In Housing Demand As Buy-To-Let Investors Look To Beat Stamp Duty Rise - RICS Press Release

Posted on Thursday, January 21, 2016

The RICS have sent a Press Release today with their latest Resdiential Market Survey results which show a lift in housing demand following the announcement of Autumn Statement measures. 

The main points were as follows:

  • Demand for properties increases in December to three month high.
  • Anecdotal evidence points to a jump in buy-to-let interest leading demand.
  • First rise in new instructions since the beginning of 2015. 

 

The demand for new properties in the sector has been attributed to a rush to beat April's stamp duty rise as the reason, according to Chartered Surveyors. 

From April, buy-to-let investors will be required to pay 3% more in stamp duty charges than residential buyers looking to purchase the same home. Since this rise was announced, 16% more chartered surveyors reported a rise in new buyer enquiries. 

 

Reference: RICS (www.rics.org)

For the full article, please click here: http://www.rics.org/uk/news/news-insight/press-releases/rics-uk-residential-market-survey-december-2015/