No UK Stamp Duty on Florida Buy-To-Let Properties

Stamp Duty Changes Drive Rental Values To Record Highs Benham & Reeves Residential Lettings has collated the rental value figures for 2015 that clearly demonstrate it has seen rental values climb to record highs across almost every borough. Thanks to the changes in stamp duty, fluid job markets and the way many overseas professionals are taxed in the UK, renting has become a much more attractive option. With demand continuing to rise and the anticipated exit of amateur landlords from the market, rental values in 2016 are likely to continue on this upward trajectory. Virtually every borough in zones 1 and 2 saw rental values increase by more than 4% year on year. In fact, only Richmond-upon-Thames and a small area around Edgware Road in central London saw rents fall. Rental values became slightly more modest the further away from the city centre with even outlying boroughs such as Barnet and Ilford seeing significant growth. Hackney was the clear winner with a staggering 33% increase in rental values over the past year although Bow, Bethnal Green and Haringey all experienced double digit growth, as well. As the British economy has emerged from recession and tenants have finally moved to bigger accommodation in line with increasing household income, the rental market has benefitted. The most significant change, however, has been the changes to stamp duty which have affected London more than any other area of the country. With the average of a house in London now standing at over £500,000, many family homes are now liable for the 10% stamp duty rate with many modest family homes even incurring the...