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.
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Episode notes
Stamp Duty Increase
- The UK's recent budget included a 2% stamp duty increase for property investors.
- This may lead to market adjustments, but won't end property investment.
Potential Market Impact
- A potential consequence of the stamp duty increase is a decrease in rental stock, leading to higher rents.
- London might see a more pronounced impact due to higher property prices.
Capital Gains Tax
- Capital gains tax increased, but not for property, possibly because people strongly dislike this tax.
- A significant increase might have discouraged property sales, reducing overall tax revenue.
