UK House Prices -The next bubble waiting to burst ??
chancer - Sat, 24 Dec 05 :
It seems to me that potential sellers (expecially of recently new build in the last 2 years) are asking between 30-50% of what they paid for.
A recent enquiry into one property bought for £160k and rented out for 18 months now on the market for £200k.
Agents said property been on the market for abour 3-4 months and already reduced from £205k.
It seems people are edging their bets but still hoping to make vast amounts of profits. I would tax all profits at 40% now not when IHT kicks in.
This would create revenue income for the government (could put the money into affordable housing for the key workers), affordable housing for the first time buyers and create a liquid market.
Instead, sellers walk away with extortinate tax free profits and the buyer not only pays through the nose but is subjected to Stamp Duty on purchase.
