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Landlords support overseas buyer surcharge but doubt PM’s promises

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  • 21/01/2020
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Landlords support overseas buyer surcharge but doubt PM’s promises
Some 70 per cent of property investors in the UK are in favour of the Conservatives’ proposal to introduce a three per cent stamp duty surcharge for non-UK buyers while 60 per cent support the banning of the sale of new homes as leaseholds.

 

A survey commissioned by FJP Investment of 750 landlords who all own two or three residential properties in the UK found 68 per cent also thought residents should have more say in the style of new builds developed in their area.  

 

Doubts over government delivery? 

Of the other election promises, 59 per cent would be happy to see income tax rates frozen for the next five years, and 54 per cent are in favour of not raising capital gains tax between now and 2025. 

However, the survey results showed some respondents had doubts over the new government’s ability to follow through on some of its pledges.  

Some 41 per cent do not believe Boris Johnson will get Brexit done by 31 January 2020 and 43 per cent do not think the government will bring stability to the UK economy. 

Additionally, 61 per cent did not believe the government would meet its target of building one million new homes by 2025.

 

Brexit dominating

Elsewhere, 58 per cent said they were concerned the government was ignoring domestic issues in favour of Brexit, and 36 per cent want the prime minister to ease on the government’s stance when it comes to regulation and tax affecting property investors and buy-to-let landlords. 

Jamie Johnson, CEO of FJP Investment, said: “The December 2019 General Election might have been dominated by Brexit, but the Conservatives also promised many potential reforms during the campaign. 

“However, the question now is whether Boris Johnson and his team can deliver on their promises. And at present, a great many property investors in the UK doubt that they can – particularly when it comes to getting Brexit done, building more new homes and stabilising the economy.” 

He added: “Evidently, in these opening weeks of 2020, the government must instil greater confidence and start to act on its campaign promises.”

 

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