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- Over £6.6 billion has been collected in residential tax receipts (SDLT and LTT) across England and Wales in the first 9 months of 2021, the highest total since 2017.
- This is despite the fact 600,000 sales (56%), did not pay any tax due to the stamp duty holidays, first-time buyer tax relief, or were sold below the taxation threshold.
- In England, over 25,600 sales have been for £1 million or more, nearly double the 2017-2019 average, no doubt a significant factor.
- 5,500 property sales have been subject to the 2% additional surcharge for overseas purchasers since its introduction in England on April 1st, netting the treasury an additional £44 million in tax. Source: Dataloft, HMRC, Stat Wales residential sales
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With the lettings market still very much active one of our landlords asked where they should buy a three bedroom semi detached/terraced house in Crawley? They are looking in Maidenbower and Bewbush and wanted to know what has the most demand.
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Taylor Robinson have just won The British Property Lettings Award for Crawley.
Their team performed outstandingly throughout the extensive judging period, which focused on customer service levels. Taylor Robinson have now been shortlisted for a number of national awards which will be announced early next year.
The British Property Awards provide agents throughout the UK with an invaluable opportunity to compare the service that they provide against the service provided by their local, regional and national competition.
Agents who go that extra mile and provide outstanding levels of customer service are rewarded with our accolade, which acts as a beacon to highlight these attributes to their local marketplace.
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In the current economic climate, it is only natural that people will look for ways to generate additional income. Some people will look at getting an extra job or consider the gig economy but if you have a bit more time and money, you may consider becoming a landlord. After all, with rental fees increasing and a prominent level of demand for rental property, there is a strong platform for entering this market. A recent study suggests that many people are considering becoming landlords and if you are looking to enter this market, we can help.
The study has been undertaken by Sainsbury’s Banking and their findings suggest that around 9% of adults in the UK are considering obtaining a buy to let mortgage this year. This would amount to close to 5 million people. While there is next to no chance of all these people entering the market, it is likely that there will be many new entrants to the landlord sector this year.
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While there is high demand for rental accommodation and rising rental fees makes being a landlord seem appealing to many people, it is essential that landlords and investors realise that there is a lot to consider before buying property. Even in areas like Horsham and Crawley, there are options to consider before investing and it may be that one area is ideal for a landlord while another landlord may be far better suited to investing in another part of the region.
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