Stamp duty change is wel­comed

Yorkshire Post - Property - - PROPERTY -

THE lat­est bud­get re­vealed a re­form of stamp duty land tax for bulk pur­chases to en­cour­age prop­erty in­vestors.

Wendy Evans-Scott, pres­i­dent elect of the NAEA says: “The re­view of stamp duty, for which we have long cam­paigned, is a pos­i­tive step and we be­lieve the Chan­cel­lor is right to ad­dress plan­ning laws and change of prop­erty use. How­ever, with­out the abil­ity to over­come the sub­stan­tial cap­i­tal bar­ri­ers that are cur­rently re­strict­ing prop­erty own­er­ship, the mar­ket will stag­nate in 2011.”

The Chan­cel­lor also an­nounced plans to make it eas­ier to in­vest in REITs, Real Es­tate In­vest­ment Trusts.

ARLA, the As­so­ci­a­tion of Let­ting Agents, wel­comed the moves.

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