Reported 27 days ago
A recent budget presentation by Chancellor Rachel Reeves, the first by a Labour government in 14 years, proposes a significant tax hike on landlords and second-home owners, potentially collapsing numerous property deals. The two-percentage-point increase in stamp duty will impact demand from investors as they face increased costs, further constraining the rental market and possibly raising rents. The budget also outlines various tax increases and spending cuts aimed at covering a budget shortfall while promoting affordable housing, but risks pushing many landlords out of the market.
Source: YAHOO