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Found 1 result

  1. Skipton Crash

    Stamp Duty Changes Starting To Bite

    Briefly, a work colleague is in the process of selling his house and the buyer, a cash buyer agreed a price that was near enough the same as the asking price. The buyer has contacted my colleague to say that he is going to have to withdraw his offer as he can no longer afford it. Apparently, the buyer was unaware of the stamp duty changes for second homes! There were loads of people interested at first and it is actually a really nice house, but it seems all of the potential buyers have rapidly evaporated! Meanwhile, my landlord is selling up and I am seeing prices already starting to slide in North Yorkshire. I only deal with the landlord through the letting agent but there really seems to be a lot of urgency on the sale (and hence, the getting rid of me). I had an estate agent round here to value the place so I was sure to point out absolutely *all* of the many defects, and got into quite a frank discussion with him... he reckons the changes will have a "big effect round here on the supply of rental properties" which I took as a euphemism for landlords selling up in droves and a flood of supply, driving down house prices.... Hold on guys, this could be the big one! Interesting times
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