PropertyMoose
Property Moose
Premium Member
According to news sources, the average price of a property reached a record high of £300,000. Will house prices continue to rise? If so, when will they slow down?
R
realdeals
Active Member
There must surely come a point when property price growth begins to slow? However, alternatively as more people are priced out of the property market they will need to switch to the rental market, prompting more buy to let investment and pushing prices even higher? A difficult quandary for the government.
L
Lee Filkins
Administrator
Staff member
Premium Member
The slowdown in central London is the result of the most significant change in the housing market in 2016 - a stamp duty surcharge on buy-to-let and second homes.
Since April, anyone buying a home that is not their main residence has had to pay a 3% stamp duty surcharge. This meant that, for second homes or buy-to-let properties, the rate for properties priced at more than £1.5m reaches 15%.
Since April, anyone buying a home that is not their main residence has had to pay a 3% stamp duty surcharge. This meant that, for second homes or buy-to-let properties, the rate for properties priced at more than £1.5m reaches 15%.
M
Michelle Barringer
Member
Forum Partner
Property consistently goes up in value over time - even in the last 5 years prices in England have risen 30%. Will it slow down? History would suggest not - but with all the pressures on economy at the moment it is unclear
L
Longterminvestor
Administrator
On that basis, as wage inflation is not keeping up with house price inflation, the UK will become more and more of a rental market as opposed to an owner occupier market?
