The London housing market will cool next year as a proposed tax on property sales limits demand from overseas buyers, Rightmove Plc (RMV) said.
Asking prices in the capital will increase 6 percent after gaining 10.6 percent in 2013, the U.K.’s biggest property website said in a report published today. Prices nationally will rise 8 percent, up from 5.4 percent this year.
Chancellor of the Exchequer George Osborne plans to introduce a capital-gains tax on non-resident foreigners selling U.K. property, starting in 2015. He denied last week that government incentives to boost the housing market are fueling a bubble and pushing prices further beyond the reach of first-time buyers.
http://www.bloomberg.com/news/2013-12-16/london-house-price-growth-to-slow-in-2014-as-property-tax-looms.html
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