Taxing rules for young people

Young people are facing a ‘perfect housing storm’, according to a leading property industry group.

The Residential Landlords Association (RLA) issued the warning after the latest Belvoir rental index for the final quarter of 2017 was issued.

The index found that ‘significantly’ less stock was coming onto the market, increasing pressure on the sector.

A recent survey by the RLA also found that the Government’s decision to impose a 3% Stamp Duty levy on the purchase of new homes to rent in 2017 was putting off more landlords.

RLA policy director David Smith said: “Young people are now facing the full force of the housing crisis.

“Unable to buy a home of their own and with the supply of homes not increasing to meet rising demand, current tax policy is forcing any young adults to rely on their parents for a place to live.”

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