Stacks Manifesto

Stacks Property Search believes that property legislation is due for a big shake up. If Stacks were a political party, the following measures would appear in their Manifesto. James Greenwood of Stacks Property Search says, “Most important for us is the identification of the real problem which isn’t so much lack of stock or capacity, but the way in which capacity is utilised, i.e. too many properties left empty or utilised. The following are some ideas to address this problem.

  1. Both Council Tax and Stamp Duty would be graduated, not stepped. 
  2. Introduction of a bedroom tax for the private sector. Property with three or less bedrooms would not be subject to the tax, but owners of property with more than three bedrooms would be subject to the tax unless the bedrooms were occupied by a family member (including children under the age of 18), or a paying tenant. 
  3. Introduction of a vacant property tax, payable by all property owners whose property is empty for more than six months of the year. 
  4. Help to Buy would be available on resale property as well as new build. Currently the system is more ‘help to sell’ than help to buy, and generally lines developers’ pockets, frequently leaving first time buyers, who have paid a new premium, in trouble when it comes to resale. 
  5. CGT would be scrapped for Buy to Let property owners who sell to first time buyers. The current legislation means that many private landlords can’t afford to sell; scrapping CGT would free up the market at the bottom end. 
  6. Introduce professional qualification and licencing for all property selling and buying agents.

Ends – 

    • For more information, jpgs and interviews, contact Amanda MacCaw, 01386 700068 / 07977 238175 / amanda@wildmaccaw.co.uk

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