Monday, 27 April 2009

New properties only

If the aim of the bonus payments version of the first home buyers grant is to stimulate the building industry then it will make sense for the May budget to limit any extension of the bonus to people buying newly constructed housing. The evidence I get from within the real estate industry is that the major beneficiaries of allowing existing properties to be eligible have been investors able to get a higher return from sales than they otherwise would have.
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