The CEO of reallymoving.com comments on SDLT surcharge for non-UK residents in Spring Budget
Rob Houghton, CEO of reallymoving.com, comments on the SDLT surcharge for non-UK residents announced in the Spring Budget.
“The supply of new housing is currently at a 30-year high, according to the latest data from MHCLG but a shortage of homes at the right price remains the biggest issue facing First-Time Buyers.
“A 2% stamp duty surcharge for non-UK residents, coming on top of the existing 3% surcharge for second-home owners, will reduce the numbers of overseas investors competing against First Time Buyers for limited stock. This demand has undoubtedly contributed to UK house price inflation in recent years, particularly in our cities, pushing home ownership for young people further out of reach.”
Kindly shared by reallymoving.com