The reforms to stamp duty announced by Chancellor George Osborne in the Autumn Statement could encourage investors to buy homes for the rental market.

Estate agent Jordan’s says the changes to stamp duty, which will change the way houses are taxed when they are bought, will not have a ‘huge impact’ on the rental market. However, it may allow some tenants to climb the rental property ladder because more investors will make homes available.

The changes mean investors can consider a greater range of properties in Liverpool because a property worth £275,000 will attract a stamp duty of £3,750 compared to £8,250 under the previous system.

Managing director of Jordan’s, William Jordan, says: “With more investors entering the market tenants will benefit from more choice of properties. As demand for small family homes is increasing – and this type of property would usually have incurred a high stamp duty cost for investors – these changes are likely to improve the availability of this type of property which will in turn allow some tenants to climb the rental property ladder.”

The new stamp duty system, which was announced yesterday, will also prevent the practice of putting in offers below the stamp duty threshold and paying extra for ‘fixtures and fittings’, according to the agent.

Related posts:

Former student complex marketed to housing developers Award for Wirral regeneration masterplan Prescot masterplan highlights new housing potential Studio homes planned for Renshaw Street Anfield improvements bring ‘more pride’ for residents Deal struck to finally complete Liverpool’s Herculaneum Quay