TPP383: Market update: July 2020

The Property Podcast

Rob Bence & Rob Dix

Education, Business News, Business, News, Investing

4.8 • 2K Ratings

🗓️ 16 July 2020

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Back by popular demand, Rob & Rob have returned with a market update podcast! Yes, we said goodbye to weekly updates BUT, we were inundated with requests to bring them back. So for now, we’ll be resurrecting them on a monthly basis so you can get your regular fix of the latest developments across the property sector. Today they’re talking about the hot topic of the month: stamp duty. They’re covering the latest changes and what they mean for the property market now and in the long-term. If you’re thinking ‘hang on - they’ve already covered this....’ - you’re right. They did recently cover it on this week’s episode of Ask Rob & Rob but today they’re delving deeper, and they’re also giving you their opinion on the latest market activity and of course, the rental market. Trust us, if you’ve missed the Friday market updates, this is an episode you don’t want to miss! In other news, it seems that not everyone is happy that the new stamp duty charges are applicable to everyone. The Shadow Housing Secretary says it’s a £1.3 billion bung for landlords. However they’ve not pointed out in the article that the 3% surcharge remains in place and where that tax increase came from in the first place. This week’s Hub Extra is something of our very own and it’s sticking with the stamp duty topic. Ideally when you’re now looking at property prices you want to know how much you’ll be saving. Well, we’ve put together an article that not only explains the stamp duty changes but there’s also a handy calculator in there too that you can use to work out just how much you’ll save on your next property purchase. We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do. Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week! If that wasn’t enough, you can also join our friendly property community on the Property Hub forum. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hi Robby here with Rob D and you are listening to the Property Podcast
0:06.2	back by popular demand is the market update. We used to do them weekly. We're now doing
0:12.1	them monthly but most importantly we've got a juicy topic to talk about stamp duty.
0:17.0	What happened? And most important of all, what will it mean for the property market now and in the future we discuss all of
0:26.1	that and more.
0:27.1	Welcome to the Property Podcast where every Thursday property investors come to be
0:36.8	informed and inspired. The Chancellor's given us a bit of a gift. He's given us
0:41.2	a lot to talk about in this first of our monthly market
0:44.3	updates, so let's get straight into it.
0:46.1	So Rob, there's been a lot of positivity around the Stamp Duty announcements, but unlike us, we've
0:51.8	managed to find a negative story because really we don't like
0:54.8	highlighting negativity it's not something we want to endorse but we just had to because
1:00.3	it's just a bit of a crazy headline at least but actually goes on to be a bit crazy when you read into the story.
1:05.8	And the headline is, Labor says, a stamp duty holiday is a bung for landlords.
1:11.6	Yep, a 1.3 billion pound, bunk for landlords according to the Shadow Housing Secretary
1:16.1	who is not impressed that the Stamp Duty holiday up to half a million pounds which we talked
1:21.0	about on our school and Rob on Tuesday
1:22.8	applies to all buyers including investment purchases and second homes.
1:26.9	While that is true Rob, what they've not pointed out is that the 3% surcharge
1:30.8	stays in place and indeed where that 3% surcharge came from in the first place.
1:34.9	Yes because that surcharge, that tax increase came from the Conservatives and actually for the last
1:41.9	five years the taxes have only gone one way against investors and landlords, which is against us.
	...

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