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Home > News > Investors give mixed response to new government pledges | Plaza Estates London

Investors give mixed response to new government pledges

By Eitan Fox  //  Mon 27th January 2020
However, 61% of people taking part in the survey believed that the government will fail to reach its target of building one million new homes by 2025.
Property investors support a stamp duty surcharge for non-UK buyers, a new study has found.
Property investors support a stamp duty surcharge for non-UK buyers, a new study has found.

The Conservative Party manifesto contained the proposal to introduce a 3% stamp duty surcharge for overseas buyers, with proceeds to be used to fund homelessness initiatives.

In the survey of 750 property investors, 70% of respondents backed the move. The investors also approved of plans to give residents a bigger say in new developments in their areas.

The data comes from property investment firm, FJP Investments, whose CEO, Jamie Johnson, said: “The December 2019 general election might have been dominated by Brexit, but the Conservatives also promised many potential reforms during the campaign.

“Our research shows that when it comes to the property market, the majority of UK investors are in favour of their key policy ideas, including a stamp duty surcharge for overseas buyers and giving local residents greater say in new-build developments in their area.”

However, 61% of people taking part in the survey believed that the government will fail to reach its target of building one million new homes by 2025.

And, in spite of signs of renewed confidence in the housing market since Boris Johnson’s decisive election victory, less than half (43%) believe his new government will stabilise the UK economy.

In addition, 41% believe Boris Johnson will fail to ‘get Brexit done’ by his deadline of 31 January and 58% said they were concerned that domestic issues are being ignored in favour of Brexit.

More than a third, 36%, want the prime minister to take a softer approach to buy-to-let landlords when it comes to regulation and tax increases.

According to Jamie Johnson: “The question now is whether Boris Johnson and his team can deliver on their promises. And at present, a great many property investors in the UK doubt that they can – particularly when it comes to getting Brexit done, building more new homes and stabilising the economy.”

Read more on this story on the Property Wire and Property Reporter websites.

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