After hinting that the responsibility for stamp duty may switch from buyers to seller it appears that the chancellor has quashed this suggestion. In a tweet he said “More speculation about stamp duty this morning. To be clear, I never said to The Times I was planning to put it on sellers, and I wouldn’t support that. I know from the Ministry of Housing, Communities and Local Government that we need bold measures on housing - but this isn’t one of them.”. Watch this space for more stamp duty updates, however, it now seems unlikely there will be much (if anything) changing this side of the budget.
Aldreds are already instructed on many exciting new homes developments in 2020! If you are looking to purchase a brand new home next year call us now so we can talk you through what is in the pipeline and get you registered with us!
Capital Gains tax receipts were around £1Billion up on the previous year. This has been put down in part to second home owners and buy to let landlords cashing in their assets as new tax measures come in to force. In Great Yarmouth and Lowestoft we haven’t really seen the buying and selling patterns change. Indeed the high yields that can be achieved in this area appear to be resulting in people looking to invest in buy to let and holiday accommodation in this area. With strong sales levels and a fast moving letting market this looks likely to continue for some time.
After 12 years and countless happy buyers we are delighted to announce that the last new house on Kings Drive completes tomorrow! But don’t despair if you have missed out. Aldreds are marketing MHKing & Son new development in Bradwell and already have properties available. Call our Gorleston office now on 01493 664600 for more information.
So Boris is PM. No political statement here however, one thing we do want to pick up on is his innuendo on stamp duty. During his campaign Boris suggested that he wanted to reduce the burden of stamp duty on house buyers and even may look at moving the tax from buyers to sellers. With the ‘B’ word on the horizon it can be presumed that this may be somewhat down the agenda…but watch this space for updates!