23 Mar

Budget 2011: tax reform could boost houses for rent in Oxfordshire

Budget 2011: tax reform could boost houses for rent in Oxfordshire

Government plans to reform property taxes could result in more houses for rent in Oxfordshire, Hampshire or Somerset entering the market in 2011.

In today's Budget speech, chancellor of the exchequer George Osbourne has pledged to review and adjust stamp duty land tax rules applied to bulk purchases.

The Treasury says the measure will strengthen demand for property for sale across the UK, encouraging buy-to-let investors to increase their portfolios.

In turn, this will help boost the number houses to rent in Staffordshire, Suffolk, Essex and other counties across the UK.

An increase in the number of properties to rent will enable Team estate agents to help more tenants find their ideal homes.

Today's announcement could help to alleviate estate agents' fears of demand outstripping housing supply.

According to the Association of Residential Letting Agents (Arla), demand for houses or flats to let rent in 2011 will remain strong and will continue well into 2012.

In addition, four in ten Arla offices believe more buy-to-let investors will enter the market over the next year.ADNFCR-1222-ID-800473889-ADNFCR

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