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So Capital Gains Tax Changes Were the End of Buy to Let ?

2nd May 2008 | back to article listings BACK    print this article PRINT

Or maybe not. Yet another silly theory debunked.

The theory of buy to let investors selling up en masse just because their tax reduces room between 24% and 40% down to 18% has been shown to be wishful thinking from the house price crash protagonists. It was pretty obvious this was never going to happen for several reasons ; firstly by to let investors generally invest for the long-term, secondly the market is a little weak at the moment if you are a seller, thirdly if anybody was going to sell they would have already brought the property to the market before the April tax change as all they had to do was delay exchange until the 6th of April in order to capitalise upon the new tax rate. There never was a rush of sellers coming to the market before April and any estate agent would have told you that if they had been asked.

Unfortunately the popular press don't sell papers just by telling the truth and looking at the data, it's a little dry. Right now bad news sells newspapers. Of course all my good friends in the press community are above all that and whilst they might agree with many of comments are keeping their powder dry until the market turns to the positive again in the near future. Then the truth will out.

This news story has come from the property investment blog by Stuart Law, CEO Assetz plc.

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