Some 97% of property investors do not think the government is doing enough to support the UK property market, new research from MT Finance has found.
Its latest Property Investor Survey asked 135 investors what changes the government could introduce to better support the UK property market. Half (50%) said scrapping the 3% stamp duty surcharge would improve conditions in UK real estate.
What’s more, 33% of property investors called for a reversal of the changes to tax relief on buy-to-let mortgages, while 17% believed introducing a tiered tax system on buy-to-let property would better support the UK property market.
When asked who they would vote for if a general election were called today, half revealed they would back the Conservative Party, 18% said the Liberal Democrats, and 16% said the Brexit Party.
Only 3% of property investors revealed they would back the Labour Party in a general election.
Gareth Lewis, commercial director at MT Finance, commented: “It is interesting that the Stamp Duty surcharge and removing it is more important to property investors than mortgage interest tax relief - it suggests this group of investors are the ones who are most likely to expand their portfolios.”
“The government has introduced a series of changes to slow down an overheated property market and reduce the number of buy-to-let investors over the years.”
He added: “Property investors have been dealt some serious setbacks, impacted by changes to stamp duty and changes to tax relief but despite the changes, many remain resilient and still see property investment as a key tool for retirement planning, and a good home for their monies while interest rates are low.”