Taxing the housing market won’t pay off, lenders warn Chancellor
Original Article Summary
The Intermediary Mortgage Lenders Association has warned Chancellor Rachel Reeves against using the housing market as a target for tax rises in November’s Budget. Any more tax rises in the sector would fail to raise meaningful revenue and could instead choke off economic growth, the association warned. IMLA estimated that all of the property tax […] The post Taxing the housing market won’t pay off, lenders warn Chancellor appeared first on PropertyWire.
PropMatch Curated Analysis
The mortgage lending industry warns that proposed property tax rises would generate minimal revenue (under £6bn) while potentially damaging market confidence and economic growth. Market uncertainty ahead of the November Budget is already slowing housing transactions.
Investor Relevance
Critical for all property investors as potential tax changes could affect acquisition costs, holding costs, and exit strategies. Current uncertainty is already impacting transaction volumes and market confidence, which affects liquidity and investment timing decisions.
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