Thursday, Apr 16, 2015

Fear. Paralysis. Jitters. Because the election.

Telegraph: Mansion tax fears and election jitters crippling property market and causing price bubble

Fears of a mansion tax, jitters over the election result and increases in stamp duty have paralysed the housing market and caused a “worrying” price bubble because so few properties are being put on sale, estate agents have warned.
The Royal Institution of Chartered Surveyors (Rics) said buyers are scrambling to buy the few homes that are currently on the market, squeezing prices up after months of relative stability.
Meanwhile the property website Zoopla warned that Ed Miliband's plans for a mansion tax would have a “significant” long-term impact on the housing market and would make it even harder for young people to buy their own homes.

Posted by debtserf @ 08:59 AM (1822 views)
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2 Comments

1. reticent said...

There's an interesting logic to the way this article is worded. Economic uncertainty ahead of the election has led to a lack of flats being available for sale this month. As a result, RICS are predicting 4.5% house price growth for the next 5 years.

Must be uncertainty about election 2020 then. To be fair, I suspect there's still quite a lot of uncertainty about that.

Thursday, April 16, 2015 03:18PM Report Comment
 

2. icarus said...

Mansion tax makes it harder for young people to buy houses.

Tory policies all make it easier for young people to buy houses.

Or is it just the Tory press is gearing up for an election?

Thursday, April 16, 2015 05:20PM Report Comment
 

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