In the latest survey of residential members released by RICS, it’s quite evident that landlords are trying to beat Chancellor’s stamp duty surcharge deadline.
The survey indicates that demand in December defied the typical seasonal slowdown and rose to a three-month high after the government announcement that a 3% duty surcharge would be imposed on April 1st 2016. The chief economist at the RICS Simon Rubinsohn, believes a further increase in activity is very likely before the April deadline.
In the North West, 40% of chartered surveyors reported an increase in new buyer enquiries in December, up from 19% in November.
RICS says high prices across most market sectors continue to be fuelled by a relative shortage of properties, but new instructions to sell homes saw an increase for the first time since January 2015