Are you an " accidental landlord" ? Perhaps you decided to hang on to your existing house and rented it when you bought your new property . A survey from the Nationwide Building Society today highlighted this as an increasing trend over the last year. The effect has been an increase in rental properties - and a drop in the amount of rent you can charge. The opposite side of the coin is the shortfall of properties up for sale, which increases house prices because of the demand.
What everyone wants to be able to predict is what happens next ? The Stamp duty threshold goes back to £125,000 at the end of this year so anything over £125,000 will attract stamp duty at 1% of the purchase price . The current threshold of £175,000 was due to run out at the beginning of September but was extended by the Govermnment to 31/12/09. That may affect the number of properties being sold in the early part of next year.
