Greycoat Real Estate has clients affected by stamp duty change
Greycoat explains that among the Chancellor’s reforms on property tax is to raise the stamp duty tax on multiple dwellings, which will raise the cost of those buying a rental property. This will raise the cost of rents across the nation, which will make things harder for a real estate company like the Real Estate Agency and their clients.
This can stop people from buying properties that have their main dwelling with a small apartment attached, which may hurt helping those who want to include ailing parents. Greycoat adds that the costs can hurt a market trying to come out of hard times, such as the British market.
Greycoat shares more on this concern. The relief that helped so many being taken away could cause those already hurting from global inflation to suffer more. Most people have been having issues with even finding a place to live in London, let alone trying to buy property there.
Greycoat and similar companies have worked to make the best of the situation for their clients, but those who have the least savings and lowest credit scores will not be able to have a chance to change their status with real estate investment. A need for tax money seems to outweigh the ability to provide the most people with affordable housing. That is the effect of a simple change in the tax code.