Liverpool’s property experts have expressed concern over the government’s decision to go ahead with planned stamp duty reforms, as announced in the 2016 Budget.

Agents are worried that the reforms will result in a decline in demand for residential property.

Phil Hartley-Chambers, director at City Residential, says: “The budget was fairly unspectacular for the property sector with most people disappointed that the stamp duty increase for those with investment properties or second homes, will definitely be going ahead as planned.”

Julia Casimo, partner at John Kerr accountants, agrees that the reforms could be damaging to investments in residential property. She says: “Recent changes to taxation of residential property has meant that many investors have been drawn to commercial property as an alternative and this is likely to increase that trend amongst smaller investors.”

Ian Taylor, lettings manager at Reeds Rains Estate and Lettings, says that the impact of the announcement of the reforms in the Autumn Statement is already starting to show. He says: “I think everyone is waiting for the impact of the 1 April changes – we have already seen a slight drop off in viewings from investors, however long term, the increase can be budgeted for as property is a long term investment, so I see that buyers will factor this into any price offered.”

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