New survey reveals homeowners support the extra 3% stamp duty on buy-to-let
A new YouGov survey for HomeOwners Alliance and BLP Insurance shows 47% of those surveyed support the new extra 3% stamp duty increase for people with 2nd properties against 18% who appose the increase. The government introduced the new tax to reduce and slow the buy-to-let market and help first time buyers.
One respondent to the survey said: “The buy-to-let market is slowly destroying the overall housing market and making affordable properties less available for those wanting to own a home as their principal place of residence.”
“I have been saving for some time (five years) to be able to afford to purchase an investment property. This change has now meant that it is not feasible for me to do so. It is unfair to penalise people who work hard and save,” said one respondent.
Paula Higgins, chief executive of HomeOwners Alliance, said: “The British public believe that homes are for living in and not speculating with. The stamp duty surcharge might be bad for landlords but it will allow more young people to realise their dream of owning the roof over their head. This is why we initially called for the tax system to differentiate between aspiring homeowners and property investors. However, we must see the money raised ploughed back into building more affordable housing.”