Thursday, April 16, 2015
Fear. Paralysis. Jitters. Because the election.
Fears of a mansion tax, jitters over the election result and increases in stamp duty have paralysed the housing market and caused a Ã¢Â€ÂœworryingÃ¢Â€Â 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 Ã¢Â€ÂœsignificantÃ¢Â€Â long-term impact on the housing market and would make it even harder for young people to buy their own homes.