Foxtons Estate Agents reckons the market will \u201cmove forward with renewed confidence\u201d now the Autumn Budget has financially been delivered.<\/p>\n
While some changes are being viewed negatively by the industry, particularly increased taxation on rental profits, the slow and steady nature of the increases means the market is unlikely to be majorly stymied.<\/p>\n
Guy Gittins, chief executive of Foxtons, said: \u201cThe new surcharge on homes above \u00a32 million will importantly not take effect until 2028, so we have ample time to adjust and plan with our clients.<\/p>\n
\u201cLondon\u2019s prime market, in particular, remains robust, and buyers at this level typically plan purchases over a longer horizon.\u201d<\/p>\n
He added: \u201cThe rental sector continues to evolve and, despite the unwelcome incoming tax adjustments, we expect rental inflation to remain strong over the coming years.<\/p>\n
\t <\/p>\n
\u201cWith demand still far exceeding supply, rental values are set to rise at a pace that is likely to outstrip the relatively small increase in taxation, supporting stronger short and medium-term returns for London\u2019s landlords.\u201d<\/p>\n
Foxtons noted that the introduction of a new surcharge on properties valued above \u00a32 million represents fewer than 1% of homeowners, implying that it\u2019s unlikely to have a big impact on the market.<\/p>\n
The agency group expressed disappointment that there was no stamp duty reform, but admitted that at least \u201cclarity replaces uncertainty\u201d.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Foxtons Estate Agents reckons the market will \u201cmove forward with renewed confidence\u201d now the Autumn Budget has financially been delivered. While some changes are being viewed negatively by the industry, particularly increased taxation on rental profits, the slow and steady nature of the increases means the market is unlikely to be majorly stymied. Guy Gittins, […]<\/p>\n","protected":false},"author":1,"featured_media":6142,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n