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buzzardo

Cml "warns Budget Tax Rises Will Hit Property Market"

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The VAT hike risks further weakening house-buyer confidence and putting pressure on residential property prices, the Council of Mortgage Lenders' has warned.

Director general Michael Coogan the rise in VAT and other taxes will mean that the 'age of aspiration' recently referred to by the housing minister will be even further out of the grasp many would-be homeowners.

'In the short term pain is likely, as the effect of tax rises on household finances dampens the already fragile recovery in house-buyers' confidence, house-building is affected, and support for housing costs across all tenures is curtailed,' he said.

The CGT trigger wasn't as big - or as well-timed - as we hoped.

But as others have said, the rest of the fundamentals ain't good.

Not even the CML VI's can be ar$ed talking up the market today. Maybe we shouldn't be so disappointed after all, as there's still a long way to go with this one.

B

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The VAT hike risks further weakening house-buyer confidence and putting pressure on residential property prices, the Council of Mortgage Lenders' has warned.

They keep saying this as if it's a bad thing. Can some journalist PLEASE PLEASE ask them, in a one sentence answer, why HIGH house prices are good?

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The CGT trigger wasn't as big - or as well-timed - as we hoped.

But as others have said, the rest of the fundamentals ain't good.

Not even the CML VI's can be ar$ed talking up the market today. Maybe we shouldn't be so disappointed after all, as there's still a long way to go with this one.

B

The HPC will be coming! VAT up, 25% dept cuts, local govt cuts, pay freezes and uncertainty on jobs. Would you want to take on anice big new mortgage if there is uncertainty for you? Business will be pressed by these economies before they can recover. Growth expectations are reduced. The USA is quietly diving into a hole and the Eurozone is on the brink with no levrs left except printing and buying off debt with other illusory bits of paper.

Another 91 props on round here in the last 7 days.

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The CGT trigger wasn't as big - or as well-timed - as we hoped.

But as others have said, the rest of the fundamentals ain't good.

Not even the CML VI's can be ar$ed talking up the market today. Maybe we shouldn't be so disappointed after all, as there's still a long way to go with this one.

B

Thanks for that I was dissapointed with the budget but happier now.

Have you a link?

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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