So we have confirmation. Buyers purchasing homes that are not their primary residence will be hit with higher rates of stamp duty from 1st April.
How will this affect the housing market? Clearly there are areas in the parts of the East Anglia that we cover where buy to let and second home ownership are very popular. From riverside properties on the Broads to buy to let investments in Lowestoft there will almost certainly be a short term slowdown in these purchases. However, at Aldreds we feel that a short term slowdown may be the only effect.
Property locally still gives a great return and is a tangible asset. Our offices are ready and able to assist and advise you with regards to your purchase and with regards to buy to let we have many waiting tenants registered in our property management department.