What Rachel Reeves’s Budget really means for the housing market
2 months, 1 week ago

What Rachel Reeves’s Budget really means for the housing market

The Independent  

Rachel Reeves’s measures in the Budget will undoubtedly have an impact on homeowners, aspiring buyers and landlords – but there were probably fewer drastic changes than many people anticipated. In a move that directly targets landlords and wealthier homeowners, the chancellor confirmed that stamp duty for second homes will increase from 3 per cent to 5 per cent from 31 October 2024. Before the Budget, there were concerns that a drastic increase in CGT on residential would cause second homeowners to rush to offload their properties before the tax came into effect, which could have caused a sharp drop in property prices in some areas of the country, but this situation has been averted. Last but not least, our trusted partners at wealth, accountancy and business advisory Evelyn Partners flagged that changes have also been announced to inheritance tax, which will leave many homeowners feeling frustrated.

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Rachel Reeves and her husband 'are making £74,000 a year in rental income from two properties' - despite hammering landlords in tax bomb Budget
2 months, 1 week ago

Rachel Reeves and her husband 'are making £74,000 a year in rental income from two properties' - despite hammering landlords in tax bomb Budget

Daily Mail  

Rachel Reeves and her husband are reportedly collecting £74,000 a year in rent from two properties - despite hammering landlords in this week's Budget. Stamp duty costs shot up from three to five per cent in the Chancellor's first Budget on Wednesday, targeting landlords and homeowners buying a second property. Responding to the increase in the surcharge on additional properties, …

Your guide to L.A.’s ‘mansion tax’ proposal to build more housing, Ordinance ULA
2 years, 2 months ago

Your guide to L.A.’s ‘mansion tax’ proposal to build more housing, Ordinance ULA

LA Times  

The so-called documentary transfer tax would generate an estimated $600 million to $1.1 billion a year, according to a city analysis, and the proceeds would fund affordable housing construction, rental subsidies and tenant defense, among other things. About 30% of the revenue would provide short-term emergency assistance for tenants, subsidies for rent-burdened seniors or disabled people; and funding to provide …

Real estate industry warns of 'perfect storm' for renters and investors
3 years, 5 months ago

Real estate industry warns of 'perfect storm' for renters and investors

ABC  

Single mum of three Alicia Johns spends almost half her weekly income on rent. Key points: The Real Estate Institute of Tasmania warns that as the state's housing market become less appealing to investors, it will put pressure on rent prices Its latest report shows that while rents are increasing, they're failing to keep up with the rising house market …

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