The Autumn Market

After the holiday period in August, schools have gone back and the property market has got underway again, but it is patchy and very price sensitive. Stamp Duty levels are critical with the extraordinary difference of 4% for “mixed use” and 10% plus for Residential property over £1m. So farmhouses with land & cottages should attract the 4% charge and so be more saleable. It is vital that vendors protect the “mixed use” description by farming their paddocks, claiming the Rural Payments and keeping accounts – perhaps even starting a Farm Business with annual returns to the Inland Revenue. The market will become increasingly polarised as buyers do not want to be taking out mortgages just to pay the Stamp Duty. If you would like more information, please do call me.