West Country buying agent Rupert Stephenson, of Black Brick’s Country & Coast Department, spoke with Marc Shoffman, of Estate Agent Today, to share his insights into how the Government is impacting the current UK property market.
Reflecting on the tax rises and IHT reforms expected to be announced in the upcoming Autumn Budget, Rupert commented that older homeowners have been especially spooked by the prospect of paying more, and suggested that this could lead to an increase in larger homes being put up for sale.
“I definitely saw this trend emerging in the last year of people who probably should have moved in their late 70s and early 80s but had put it off because of the pandemic starting to downsize. They wanted to quickly pass on their wealth to their children.”
Read the full article here.