Welcome to the January edition of the McCartan Newsletter! We are very excited about the future of the property market, particularly here in Swansea this year.
As ever, there will be changes that will impact landlords this year, but we are here to guide our landlords and tenants through the adjustments.
I hope you enjoy reading this month's newsletter - and don't forget to check out my Buy-To-Let Deal of the Month at the end!
- Hannah McCartan, Managing Director of McCartan Lettings
General
As we eagerly await news on the Tidal Lagoon and work starting on the City Project, the housing market in Swansea hasn’t had a buzz like this since WW2!
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From this month, a loophole that allowed landlords who had incorporated their portfolios to avoid Capital Gains Tax has been closed.
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9 out of 10 buyers could be paying more tax now whilst they wait for the new Welsh-only Stamp Duty replacement to come in.
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A new Government consultation could mean landlords will not be exempt from making improvements if they are unable to source funding.
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This month's BTL deal is low maintenance, ready to go on the market to let, and in a great location - but watch out for service charges!
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December saw marginal growth again for 1, 2 and 3 bedroom properties, while rents dip on larger properties as they struggle to let over the festive period.
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