As 2015 has now rolled into 2016, we here at Brown & Co Auction Department must put the unrivalled success of our final sale of 2015 behind up and commence the whole process again with the first sale of the new year, which is scheduled for 22nd March 2016.
There are new changed in Stamp Duty coming into force the beginning of April this year and changed in the way landlords can claim tax relief on their mortgage finance costs from April next year and I am often asked whether this will have a detrimental impact on the property market and what will happen to house prices.
Personally, I feel that there will be a short term impact but once it becomes the norm, these changes will be absorbed into the system and the whole process will carry on as before. Historically, purchasing property as an investment or buying something in need of improvement to sell on again has always been a good bet, and i think that this will continue to be the case.
Getting back to our March sale, for which we are still taking entries, we have a number of interesting lots - something that will suit the shrewd investor to the discerning owner occupier. Our first featured property is an older style three bedroom end terraced house which has been let for many years and is now to be sold vacant. This will be ideal for the investor or those looking for a refurbishment project. The other property featured is a substantial 5/6 bedroom detached residence which would once again, after improvement and updating, be a fine family home. However, there is attached to the property a self-contained flat which could provide an income. Alternatively, the main property could be divided into a pair of semi-detached dwellings or even a number of flats, this of course, all being subject to planning, so plenty of scope and potential exists here.
For further enquiries or to enter your surplus property or parcel of land into our March sale, please call the auction team on 01603 629871