Tax changes drive fall in buy-to-let

Yorkshire Post - Property - - PROPERTY NEWS -

IN­VEST­MENT: The num­ber of in­vest­ment prop­er­ties be­ing bought has halved since April 2016, ac­cord­ing to re­search by My Home Move, and num­bers could fall fur­ther thanks to new tax rules that came into force this week as well as the ex­tra three per cent stamp duty now levied on ex­tra homes. Doug Craw­ford, CEO of My Home Move said: “While investors were choos­ing to back-off on buy­ing ad­di­tional prop­er­ties, the num­ber of gifted de­posits was ris­ing at a rate of around one per cent. I sus­pect par­ents, who would have bought a sec­ond home, have redi­rected their sav­ings to help their chil­dren onto the prop­erty lad­der.”

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