14 Mar

Buy-to-let investors 'likely to hold on to properties'

Buy-to-let investors 'likely to hold on to properties'

The upcoming capital gains tax (CGT) changes announced in this week's Budget are not likely to prompt buy-to-let investors to sell their properties, according to a property broker.

Lynsey Sweales, marketing and PR director of The Money Centre, said that as the majority of landlords have a long-term view of their investments, there is not likely to be a rush to sell before April.

In the Budget announcement, Chancellor Alistair Darling said that CGT will be changed to a single rate of 18 per cent from next month.

Research from The Money Centre reveals that almost one-quarter (22 per cent) of buy-to-let investors are not planning not to sell their properties for between 11 and 20 years, while another 19 per cent will hold on for between six and ten years.

"I think a rush to cash in come next month is unlikely given most landlord are committed to a longer term strategy," Mr Sweales concluded.

John Wriglesworth of the Wriglesworth Consultancy recently claimed that the fundamentals of buy-to-let were still strong.

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