UK property data distorted by rush to beat April stamp duty

According to the Royal Institution of Chartered Surveyors, there has been a flood of buy-to-let landlords trying to complete purchases before the new tax surcharges come into force in April. The new changes mean that buy-to-let investors, and second homeowners, will have to pay an extra 3% stamp duty surcharge. Peter Spencer, Professor of Economics at the University of York, told the Financial Times that the tax reforms were a big mistake by George Osborne since “this mistake guarantees a bunfight in the first quarter followed by a relapse over the rest of the year.” As a result, the property market for December was "unusually buoyant" as demand reached a three-month peak. The same trend can also be seen in Northern Ireland.  

Northern Ireland's housing market is likely to heat up ahead of April's stamp duty hike, surveyors have said

Northern Ireland's housing market is likely to heat up ahead of April's stamp duty hike, surveyors have said.

From the spring, buy-to-let investors will pay 3% more in duty than residential buyers.

Since Chancellor George Osborne's announcement last November estate agents have reported a rise in the number of new buyer inquiries.

Royal Institution of Chartered Surveyors chief economist Simon Rubinsohn said: "The housing market has experienced an unusually buoyant December.

"Potential buy-to-let investors are looking to pick up properties before the increased stamp duty levy comes into force next April."