Budget announcements 'may affect flats to rent in London'
People hoping to move to the capital may want to start looking at flats to rent in London straightaway after announcements made in the recent emergency Budget.
Earlier this week, chancellor George Osborne detailed an increase in Capital Gains Tax to 28 per cent.
Commenting on this decision, head of Knight Frank residential research Liam Bailey described the move as "less painful than expected" but predicted problems for the rental sector.
He also pointed to the changes in housing benefits rules.
"Landlords at the lower end of the housing market will be likely to see rental declines over the next 12 months to accommodate the reduction of funding," he said.
Rental properties may also become more popular if the government introduces a cap on mortgage lending, Hannah-Mercedes Skenfield from Moneysupermarket.com recently told the Guardian.
This may encourage people to secure themselves a flat to rent in the London borough of Camden as quickly as possible.
By Martyn Glynn
Published 24th June, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
Anyone looking for flats to rent in the London borough of Camden may be encouraged to do so as quickly as possible following announcements made in the emergency Budget.