Capital Gains Tax Changes Didn’t Change Buy to Let Investors
A recent survey carried by the Young Group – property portfolio manager – has found that 84 per cent of the buy to let investors think that the proposed Capital Gains Tax changes didn’t affect their property investment plans.
The survey asked 500 active UK property investors in the buy to let market. Thirty nine percent of the respondents believe that property prices outside London are likely to remain stagnant this year and 95 per cent plan not to sell their residential property investments this year.
A staggering 50 per cent declared that are actively looking to buy London residential properties in the next 12 months, while no more than 6 per cent of those surveyed wish to acquire UK property outside London.
Eighty Six per cent of the participants think property prices in London will raise or remain the same for 12 months, in comparison to 82 per cent in the last quarter of 2007.
Lastly, 89 per cent of property investors anticipate the Base Rate to be below 5.00% in the first quarter of 2009.
The chief executive of Young Group, Neil Young, added:
As purchase transaction volumes in the residential property investment market reduce, it is increasingly evident that the London market is distinct from that of the UK as a whole. Both property and rental values in the capital are cushioned from the cooling in the housing market, buoyed as a result of the inherent disparity between supply and demand.
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Tim Ramsey