UK surveyors report surge in activity as investors try to beat tax rise
LONDON – British property valuers reported a surge of activity on Thursday as property investors tried to beat an increase in transaction taxes on rental investments coming into force in April.
Demand for housing remains buoyant, lifted by tight supply, record employment and cheap mortgage rates, even as the global economic outlook darkens — something which prompted the Confederation of British Industry to follow the Bank of England and downgrade its economic growth forecasts on Thursday.
The Royal Institution of Chartered Surveyors said there had been the biggest increase in sales since April 2014 last month, and that 74 percent of participants in its monthly poll expected buy-to-let investors boost demand before April’s tax rise.
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