🇬🇧💷 The UK Budget 💷🇬🇧 What does it mean for Market Harborough homeowners?

🇬🇧💷 The UK Budget 💷🇬🇧
What does it mean for homeowners in Market Harborough & South Leicestershire?

Key changes from homeowners perspective:

🏡 New Council Tax surcharges from 2028
💷£2,500 on homes over £2m
💷£7,500 on homes over £5m

This move will require the valuation of homes in the top council tax bands:
F, G and H for the first time since 1991.

Landlords face a higher tax burden:

📈+2% tax on rental income and property-related dividends

Tenants may face higher rents as an indirect result.

While the above council tax surcharges may not have as dramatic an impact on the premium homes market, as some of the rumoured policy changes that circulated in recent months, I believe one impact will be an increase in the number of downsizers looking to sell their family home in the coming months.

Those that may have toyed with the idea of a downsize for some years, finally spurred into action by the prospect of further monthly outlays.

This could mean more stock levels and more opportunities for many potential buyers that have delayed a move due to lack of suitable choices.

The forecast for an uplift in activity within the property market for the new year remains positive.

For personal guidance or advice regarding your home and any proposed move, please get in touch.

Charlie Sylvanus-Jones
Director
By Design Homes | Market Harborough
& South Leicestershire
☎️01858 799345
📱07870 564815
📧charlie.sylvanus-jones@bydesignhomes.com
📧marketharborough@bydesignhomes.com
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