Buy-to-let panic selling could flatten UK price growth

The Government's proposal to increase CGT for non-business assets including second homes from a flat rate of 18% to as high as 40% or 50% is likely to encourage more supply of property in the short term, especially in the mainstream market. There are approximately one million buy-to-let properties in the UK and approximately 250,000 families who own second homes, so an increase in CGT is likely to have a widespread effect, according to independent London property search company, Sourcing Property. Jo Eccles, director of Sourcing Property, says: "We have recently seen a gradual increas...