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Latest data is pointing to the property market cooling a little.RICS reported a fall in the number of buyer enquiries, saying affordability, lack of supply and new restrictions on mortgage lending was slowing the market.
Good!
The last thing landlords need is for a market boom to force the BoE to raise interest rates.
I'm happy if everything stays nice and flat for many years to come.
Steady as she goes.
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1 comment:
That all depends where you stand in the property market. All cases are different. For example the situation over the past few years has been dismal regarding big drops in property portfolios. (terrible if you got divorced or retired)
Yep rental yields became great with property current value to income but many landlords were stuck with property bought pre 2007 with loan repayments proportional.
Now I am following an exit plan because my property was part of my pension and disposal is vital especially as regards to inheritance tax and the rental property is not classified as a business for CGT purposes.
Property is rocketing where I am...East Mids..and I am one am very glad !! But of course my gain is someone elses burden for the next 25 years. But given current CGT rules together with gift rules etc. make it very difficult to ensure your portfolio doesn't eventually go to the tax man. And as I said to one tenant. I have a choice. Either keep you housed and pay repairs , tax and have hassel. Or sit on a beach drinking cocktails....NO CONTEST !!
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