The Property Podcast
TPP608: How the budget will affect the property market (and the country)
Nov 7, 2024
The podcast dissects the recent UK budget and its unexpected impact on property investors, particularly through increased stamp duty. It examines the implications of capital gains tax changes and critiques the conservative fiscal approach, advocating for bolder policies. The hosts also provide a positive outlook on the UK property market, highlighting ongoing demand and limited supply. Insights from Rory Sutherland add a unique perspective on customer experience in the realm of investment and infrastructure.
35:35
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Quick takeaways
- The recent budget's increase in stamp duty for property investors may initially frustrate but could ultimately enhance long-term rental yields due to reduced supply.
- Despite concerns, the capital gains tax remains unchanged, providing a sense of stability for property investors amid other rising costs.
Deep dives
Impact of Increased Stamp Duty on Investors
The recent budget has introduced a 2% increase in stamp duty for property investors, making the total additional charge 5%. While this has caused some initial frustration among investors, the speakers argue that it may not drastically alter the overall property investment landscape. The financial burden translates to an extra £5,000 on a typical £250,000 purchase, but considering the long-term returns of property investment over a decade, this increase might be manageable. A potential shift in the market could even lead to reduced rental stock, resulting in increased rental yields for those who remain active in property investment.
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