FIRST TIMERS v LANDLORDS
FIRST TIMERS v LANDLORDSBy nicematin-immo.com 0 comments
There was an interesting and thought-provoking article in the Sunday Times recently which probed current Countrywide research of property owner occupiers versus property investors.
Countrywide had analysed 210,000 offers made on properties sold through its offices over the past 12 months. Where these properties were sold to investors it looked to see if there had been an unsuccessful offer from a would be owner occupier.
Nationally, only a third of homes sold to investors attracted any kind of offer from someone who wanted the property as a main home. In the West Midlands the figure was as low as a quarter.
The bottom-line was that two thirds of property sold to investors attracted no interest or competing bids from owner occupiers whatsoever. Therefore, the actual impact that property investors are exerting on owner occupiers was found to be negligible outside of London.
With this in mind, I have to ask just how will an additional 3% stamp duty for investor purchasers help owner occupiers in these areas?
More importantly, how devastating an impact may it have on sellers of these properties who have just lost their buying audience?