tlb01g

There is talk of a rise in CGT on second homes/developed properties going up to 40% from April 2011 (or sooner?), but there are ways around it by designating it as your own residence, under certain rules and time limits. I dare say some will be able to wriggle out. If not, and if this comes in, there might be a downward pressure on prices in some areas where property speculators run for the exit pre-CGT deadline. But what we really need is for base rates to go above 6%, in my day even 6% was a low-moderate rate. Anything below 8% is low, really. Doesn't look likely, does it, they continue to have some magic dust on the eyes of the market and gilt buyers, don't ask me how. TLB

It does look like rental prices in my area are declining. I have approached my landlords and presented evidence that I am now overpaying 10% at least on last year's going rate. If they don't budge, I'll be leaving. The only thing I'm unsure of is what rent I have to pay if I overstay while trying to arrange my next place; I assume it will be the rent previously agreed. I know this 10% drop comment sounds hard to believe, but I base it on 2 places very near me that are superior and let either for the same or less than I pay. Another fact: my old rented place in Herts - landlord there refused to drop my rent so I moved out. He did some refurb last summer but has been unable to let it since, even at the same asking rent price as I paid from 2005. And that's near trains, buses etc. So, for turning down my rent reduction of 10% a month he has it seems had a void costing him at the very least so far £4K in lost rent, possibly £5K. If we assume he had my old place ready to rent out from one month after I left it, the lost rent due to the void is £4900. TLB TLB