Property boom to beat tax whammy
With an increase in VAT and stamp duty coming into effect in the New Year, there is likely to be a rush to buy in order to beat the triple tax whammy.
As various hard-won tax concessions are being dropped and higher rates coming back into play, it will inevitably hit people in their pockets at a time when they need it least.
In the new year, buyers of properties under £175,000, who were previously exempt from stamp duty, will have to pay 1% on properties over £125,000 – which will add an extra £1,600 on the price of an average first time property of £160,000.
As more buyers become aware of this, the inevitable consequence will be a rush to buy, fuelling a mini-boom between now and the end of the year. If you are looking to sell your property, now is a perfect time to capitalise on the increasing number of buyers.
Labels: estate agency, estate agent, property auctions, stamp duty, VAT
More properties ‘Must be sold’ under the hammer
If you’re looking for a quick purchase or sale then auctions offer an ideal way to exchange and you can now snap up homes at prices of a decade ago at our next mustbesold.com auction event.
In the UK, property sales take on average 14-16 weeks to complete but many of those who buy at the next mustbesold.com auction will complete the sale within just a few weeks. The process is very fast-moving and that is why our mustbesold.com auctions are becoming increasingly popular with people looking to get on the property ladder, upgrade their home, or build up a buy-to-let portfolio.
In this credit crunch environment, people are keen to hunt out a bargain and snap up these homes at prices of a decade ago. Prices in the auction room accurately reflect the current housing market and are an up-to-date indicator of credit crunch property prices. This allows both buyers and vendors to exchange at a fair cost.
Properties up for grabs on 22 July include two-bedroom terraced houses in Lancashire for just £18,000, a three-bedroom semi-detached house in Coventry for just £50,000, and potential development land equating to approximately .0164 acres in Gwent. Full details can be viewed on the website www.mustbesold.com.
The next auction begins at 1.00pm on 22 July 2009 at the Hilton London Metropole, London. Mustbesold.com auctions offer the opportunity to watch the auction live online so those that are unable to attend are still able to monitor the bidding in real time. Please see www.mustbesold.com for more details.
Labels: buy-to-let, housing market, mustbesold.com, property auctions
