What Does The Budget mean for Property Investors? Budget & News Update

Mark gives an overview of the current news stories around property including new legislation and the recent budget. Mark also talks about the many changes around serviced accommodation, current house prices and gives his thoughts and opinions on why other markets aren’t investing in the UK. KEY TAKEAWAYS When governments reduce taxes, they generally find they receive more tax as people spend more in the economy. Other markets aren’t investing in the UK as they don’t see our companies as efficient of innovative. There are big changes happening in serviced accommodation, you will no longer be able to claim capital allowances on SA and much more planning will be needed for new serviced accommodation. There have been more changes in the property market since Christmas with some areas seeing 10-15% drops. It’s a fine balance between legislation to help renters and pushing landlords too far, reducing the rent stock further and making the problem worse.   BEST MOMENTS  "As you reduce tax rates, often the amount of tax you take increases” “The markets see our companies as nowhere near efficient” “You’re not going to be able to claim capital allowances on serviced accommodation”  “Inflation is now at about 4%, we need 2%, we were and 10%” “Renters reform bill is on the brink of collapse” "It pushes rent up" VALUABLE RESOURCES  https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/ ABOUT THE HOST Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties. CONTACT METHOD Email: [email protected] LinkedIn: https://www.linkedin.com/in/markhomer1 Facebook: https://www.facebook.com/markprogressive Twitter: https://twitter.com/markprogressive‘Brought to you by Progressive Media’: https://progressivemedia.uk/