Peter Rollings commenting on the capital gains tax measures in the budget
Tue 22 Jun 2010
"The rise in Capital Gains Tax has been on the cards since the coalition government came to power, but it is a relief that it has not been introduced at the 40 or 50% level and that it has been introduced immediately. Failure to do so would undoubtedly have skewed the market. The market now knows where it stands and I dont believe it will curtail the investment decisions of those wanting to invest in the London property market.
"In London, there is incredibly strong demand for rented accommodation, particularly from young professionals and international workers who prefer the flexibility of renting. In May, almost one in five purchases (19%) were made by investors in central London and we must avoid unfavourable conditions that discourage investment. It is essential that we maintain a healthy and viable private rented sector in the capital, which caters for the housing needs of the whole population."For further information please contact:
The Wriglesworth Consultancy Tom Urpeth / James Staunton 0207 427 1400
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