House prices and stamp duty

[Lockhouse]

My BTL flat that's been on the market for 6 months has dropped from £330 and I can't get a buyer at £280. I'm renting it out again as it's worth more to me rented - I don't need to sell. If I did, I'd have to cut the price some more.

[Gros]

Thanks for the replies.

I understand the sarcasm from some of you. But I should say that we are in a reasonably well to do part of London, and I'm not sure things are quite as bad here as in some places. There certainly still seems to be a fair amount of activity on the market.

Maybe you are all correct, once I get a valuation I may be in for a shock. However, if it has reached as low as 250 at least it solves the stamp duty problem!

It doesn't really matter what the values are to be honest - our problem is finding something we want at an affordable price. So the lower they go, I suppose the more chance there is that we will. The biggest problem, as you say, is going to be finding buyers.

[wonderwaif]

"As for bandings being re-evaluated because property prices have dropped... as long as all property prices are dropping at a similar rate everywhere then the bandings surely remain the same."

I thought the Governmint had not that long ago proposed re-banding on the grounds that house prices had been soaring. Sauce for the goose......

[Xenophon]

I understand the sarcasm from some of you. But I should say that we are in a reasonably well to do part of London

Not at c.£250k, Shirley...

[TykeMerc]

"As for bandings being re-evaluated because property prices have dropped... as long as all property prices are dropping at a similar rate everywhere then the bandings surely remain the same."

I thought the Governmint had not that long ago proposed re-banding on the grounds that house prices had been soaring. Sauce for the goose......

Is NEVER sauce for the gander when it comes to taxes as you know perfectly well.

[Gros]

Not at c.£250k, Shirley...

Quite average (below in many areas) for a 2 bed maisonette... isn't it?

[wonderwaif]

Is NEVER sauce for the gander when it comes to taxes as you know perfectly well.

You're right, I do know that. Just pointing out that dang65's argument SHOULD, in a fair society, work both ways.

[Xenophon]

Quite average (below in many areas) for a 2 bed maisonette... isn't it?

Very possibly. I wouldn't want to guess.

[TykeMerc]

You're right, I do know that. Just pointing out that dang65's argument SHOULD, in a fair society, work both ways.

Fair can very rarely be applied to taxes.

[wonderwaif]

Fair can very rarely be applied to taxes.

Amen to that brother.