House sales down 40pc since property boom

[Old Hack]

People selling bequeathed properties, where insufficient funds are otherwise available to pay death duty?

And law's of average would state most of the people dying would be of an older generation who's houses are already paid off

Different issues

[minestrone]

Cannot see me moving for at least 15 years.

( Unless I get kicked out of course )

[escapeUK]

Why is the economy linked to housing SALES? Why is there never mention of the booming rental market out there?

The only way I can think of it being linked is the more people pay for over priced property and or rentals the less they actually have to spend in the actual economy, it also means people demand higher wages making us uncompetitive as a nation.

[OwlHoot]

Different issues

If a non-spouse is left a property worth say £625K, then they must pay death duty at 40% on the value over £325K, which is 0.4 * 300K, i.e. 120K.

If they are skint (which is what I was referring to) then they must sell the property one way or another immediately, to raise the cash.

[DimPrawn]

Why is the economy linked to housing SALES? Why is there never mention of the booming rental market out there?

Government Orders Everyone To Move House

[alreadypacked]

Government Orders Everyone To Move House

Chancellor Alistair Darling said: "It is now more than 20 years since moving house replaced coal mining as this country's chief economic activity."

[DodgyAgent]

Government Orders Everyone To Move House

[AtW]

Have you considered branching into estate agent business?

I think you'd do well...