Flats to rent in London 'may be appealing after VAT increase'
A VAT increase in the UK could encourage more people to consider looking at flats to rent in London instead of purchasing a home.
This is because, according to one expert, Brits are likely to become more cautious and watch their spending a little more as the changes come into effect.
Helen Adams, managing director of FirstrungNow.com, said the housing market is already "dented" by worry over employment in the UK.
"It is all well and good it being said that homeowners should welcome the mortgage rates," she continued. "But considering how much interest rates have gone down – mortgage rates haven't gone down as much."
People may also want to act fast if they are considering flats to rent in London, as Ms Adams suggested the move may encourage buy-to-let landlords to sell their properties.
Her comments come after the UK Treasury announced earlier this week that capital gains tax will increase in order to create a fairer system within the country.
By Martyn Glynn
Published 25th June, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
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One expert has discussed how a tax increase could affect the UK housing market.