Tepilo have been analysing the property market reforms that homeowners are literally begging for, and the results were interesting. If you’re a homeowner we would love to know what you think. This research was UK wide and over 2,000 adults were spoken to.
However, we want to know, as Peterborough homeowners are these reforms something you would like to see in the Peterborough property market?
- 55% of homeowners surveyed said that they would strongly agree with the introduction of new legislation that would stop gazumping from taking place. If you have not yet experienced gazumping, then this is the name for when a seller accepts a verbal offer from one buyer, but then accepts a higher offer from someone else.
- 52% of homeowners feel that caps should be introduced to curb the number, value or location of properties purchased by people who are not residents in the UK.
- 47% of homeowners that own more than one property are against a cap being introduced on the number of residential properties that one person can own. However, 41% of homeowners support this capping measure.
- The top property market reform that homeowners with more than one house want to see is the scrapping of inheritance tax on all property assets. In fact 62% of homeowners with more than one property, that took part in this research, feel this way.
- We were not surprised to see that a stamp duty overhaul came up. Whenever we speak to Peterborough homeowners about property market reforms this is something that comes up. 40% of homeowners want to see new incentives for stamp duty, such as a reduction of stamp duty or an increased scope on the Help to Buy schemes for first-time buyers and homeowners purchasing a new build home.
- 44% homeowners felt that a financial incentive should be on offer for those buying properties that derelict, so they can be renovated and put back on the property market for sale.
So, what do you think? If you could choose one reform for the Peterborough property market, what would you choose?