The real estates in London maintained on stable levels for the second consecutive month in February, due to the seasonal increase in demand and the fact that many potential buyers rushing to make a deal before it expires measure of tax exemption.
The tax advice from the large advisors and companies is coming to such buyers to save money from such deals. The tax policy of GB remained unchanged for the citizens, which supported the economy in the financial and debt crisis. The accountants uk are giving information for increase in the economy and the deposits of the people. This definitely can be felt by the stabilizing of the prices for real estates in Great Britain.
The average price of homes in England and Wales remained unchanged from January.The number of potential buyers, registered in the real estate agencies, has increased by 18%, which is the biggest increase in five years. The data partly reflect the desire of people to benefit from a two-year measure of property tax exemption for first home buyers of less than 250,000 GBP, which expires in March.
According to Hometrack balance between supply and demand assumes housing prices go down again in the coming months as banks tighten lending, and Brits are squeezed by state budget cuts and rising unemployment. This month price decrease was recorded in 6 of the 10 regions tracked by Hometrack, the change in the three regions is small, but in London there is a “slight increase”.
In any case the good financial policy and the good economy development saved the countries from united Kingdom from the crisis and the last reports are for good and stable development for the future years. The economy forecasts are predicting the even Ireland, which was in the similar position as Greek, got high increase of the GDP and restricted the expenses in the measures for decrease of the public debt. The accountants from the UK are giving good advices for the customers and consumers in the way to develop their business and to decrease their taxes expenses.
This should be the main criteria for the strong increase of the GDP, as the free from taxes money are reinvested in the economy twice and even more. This is the measure, which opens the markets and increase the richness of the citizens of the UK countries. The tax advices, which was gives from the analysts definitely are directed to the people, but not to the companies. According to the analysts the taxes for the corporations and large business companies are quite low for now and they should not be decreased, as the spendings there are lower, in comparison with the personal finances.
After all these publications, was released also the information that the Mayor of London intends to introduce a levy on public works since the beginning of April. This means that all construction projects authorized for construction after the first day of this month, subject to the new fee, the online edition writes Property Wire. The local authorities aim to collect 300 million pounds, which will be used to cover the cost of construction of the railway line between East and West London.
The amount of tax will vary depending on the neighborhood in which a work falls. In general, central and southwestern regions will pay the highest tax rate of 50 pounds/sq. Neighborhoods meters to the west, northwest and southeast will pay average of 35 lb/sq.m., while the southern and northeastern regions will levy is lowest – 20 lb/sq.m. The expert by Colliers International said that it expects the new fee structure totally changes of construction costs in London.
The new taxes of the United Kingdom capital will not reflect the customers, according to the government authorities. They will reflect only to the business sector, which should get all the expenses for them. The stable prices of the real estates are good prove for that, as their index is good figure for the processes into the country, which had some public debt crisis in the beginning of the year, but according to the latest data, the situation is quite stable.