Organisation calls for incentives for buy-to-let investors

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The National Association of Estate Agents (NAEA) has urged Chancellor Alistair Darling to use the March Budget to provide benefits for buy-to-let market investors.

It was advised by the organisation that a better incentive should be offered to investors by making it easier for them to buy and sell property, through the revision of Capital Gains Tax.

The NAEA also proposed a new stamp duty scale, which it felt would help ease the problems faced by first-time buyers who were being priced out of the market.

Stewart Lilly, president of the NAEA, commented: "The government needs to be aware that with inflation rising consumers need a helping hand. We would like to see a scale of stamp duty that reflects the house price inflation in recent years.

"We would also like to see a revision of Capital Gains Tax for buy-to-let investors who are fast becoming the back-bone of the private rental sector."

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