Market for buyers ripe for second homes
The planned increase in the tax has created a buoyant market for sellers as buyers wanting to purchase a second home are actively looking now before the legislative change.
Gemma Miller, a manager and valuer at George F White, said: “If you are considering selling a property that is likely be sold as a second home, it is definitely worth marketing now as buyers looking to invest will likely want to do so before the increase comes into play in April.”
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Hide AdFrom April, there will be a three per cent stamp-duty increase, on top of existing stamp-duty rates, for every buy-to-let and second home purchase, meaning three per cent is paid on the first £125,000.