• Michael Poole

    Sales, lettings and auctions throughout Teesside

    Sales, Lettings and Auctions Throughout Teesside
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HIGHER RATES OF STAMP DUTY LAND TAX. 

According to a recent estate agency survey, the proposed increase in Stamp Duty Land Tax on purchases of second and subsequent residential properties, may impact local property markets.

In a national survey conducted amongst its members, Relocation Agent Network found 74% of respondents indicated that the proposed increase in Stamp Duty on purchases of second residential properties, may impact their local property market. When asked to elaborate on what kind of impact this will have, two thirds suggested that the number of buyers entering the market may decrease. However, the government has stated that it estimates around 90% of residential property transactions in England, Wales and Northern Ireland will not pay the higher rates of SDLT.

The national network of independent estate agents also asked its members whether they anticipate a rise in rental rates in the long term, because of the added Stamp Duty cost to landlords. Indeed, 61% said ‘yes’. The most significant trend that Relocation Agent Network members anticipate from the proposed increase in Stamp Duty rates on purchases of second properties, is the ‘decline in available rental properties’. Indeed nearly half (45%) of respondents indicated so. This would appear to be due to the increased Stamp Duty costs deterring both prospective buy-to-let investors from entering the market and current landlords from purchasing additional rental properties.

On 28 December 2015, the government published an open consultation on higher rates of Stamp Duty Land Tax (SDLT) on purchases of second and subsequent residential properties. This consultation closed on 1 February 2016. It is proposed that the higher rates, which will apply from 1 April 2016, will be three percentage points above the current SDLT rates and will be charged on the portion of the value of the property that falls into each band.

Partner, Mike Poole, from Michael Poole Estates and Lettings, a member of Relocation Agent Network, a national network of specially selected estate agents said, “Although we expect these new measures will have some impact on the market, we do not think they will be too significant for the majority of buyers and sellers. If you have a property to sell, contact us today. We’re Relocation Agent Network’s appointed Local Expert for Teesside which means we have access to out of town buyers moving into the area.”

For further information, please contact Michael Poole at Michael Poole Estates and Lettings: Call-01642 254222 or Email mike.poole@michaelpoole.co.uk

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Marketing and valuation advice from a professionally qualified Valuer who belongs to a professional bodyWhy choose us

  • Marketing and valuation advice from a Professionally Qualified Valuer who belongs to a professional body
  • 9 Prominent offices throughout Teesside
  • Members of the Ombudsman for Estate Agents scheme
  • Members of the Relocation Agent Network with over 600 associated offices nationwide
  • Independent local, Family Owned Estate Agent
  • Web advertising on major property portals
  • Inhouse Property Maintenance and Cleaning teams
  • Full spectrum of Estate agency Services Sales by Private Treaty or Auction lettings & student lettings Fully Managed or Tenant Finding service

Michael Poole Sell HousesWhat clients say

  • It was a long year of being on the market but thank you to Michael Poole in helping me finally selling my property. Overall was happy with their customer service and support in guiding me through the process right through to completion of sale.
    Carlee Chan
    from Costain Grove, Norton
  • We can not thank the team enough at the Billingham branch, would highly reccommend
    Mrs Lightowler
    from Billingham
  • super service all the long, long way through, ending in a successful move to my new home.
    David Nobel
    from Glenluce Close, Eaglescliffe
  • A very professional service offered that resulted in an excellent level of customer service. I was very satisfied with all aspects of the service and would use Michael Poole again to sell our current property and would happily recommend to anyone we know above other agents in the area.
    Clare Twizell
    from Billingham
  • Excellent service. Very helpful with matters we didn't understand. Would recommend your services
    Liz Davies
    from Eston
  • I would recommend Michael Poole to anyone thinking of selling a property. We were kept up to date all the time. Excellent service.
    Lily Newbury
    from Acklam
  • Just moved today. Staff where very supportive when at times Difficult decisions had to be made. Could not praise your staff enough.
    Shirley Edwards
    from Marske
Michael Poole properties for SaleOur Properties
  • Blantyre Road, Normanby - £180,000
    +
    Blantyre Road, Normanby. TS6 OEJ
    £180,000
    3 Bed Semi Detached House.
  • Keverstone Grove, Billingham. TS23 3RW - £125,000
    +
    Keverstone Grove, Billingham. TS23 3RW
    £125,000
    Two Bedroom Semi Detached Dormer Bungalow. Located in this Ever Popular Area of Billingham.
  • Darlington Road, Hartburn. TS18 5HA - £384,995
    +
    Darlington Road, Hartburn. TS18 5HA
    £384,995
    4 Bed Detached Home, 3 Receptions. A High Class Finish and Generous Accommodation Throughout Combined with a Large Plot and Gardens Make This Home a Rarity.
  • Ormesby Bank, Middlesbrough. TS7 9ED - £145,000
    +
    Ormesby Bank, Middlesbrough. TS7 9ED
    £145,000
    A Mature Bungalow in a Sought After Location, Occupying a Generous Plot and Requiring Some Updating.
  • Branksome Avenue, Tollesby. TS5 7PA - £135,000
    +
    Branksome Avenue, Tollesby. TS5 7PA
    £135,000
    Tastefully Decorated Three Bedroom Semi Detached Family Home. Positioned within the Popular Residential Area of Tollesby
  • The Green, Kirklevington, Yarm. TS15 9NW - £285,000
    +
    The Green, Kirklevington, Yarm. TS15 9NW
    £285,000
    A Deceptively Spacious, Four Bedroom Detached Family Residence, Benefitting From A Full Width Ground Floor Extension To The Rear.
  • Lowestoft, Redcar. TS10 4GJ - £220,000
    +
    Lowestoft, Redcar. TS10 4GJ
    £220,000
    This Impressive Four Bedroom Detached Family Home Boasts an Enviable Plot with Generous Drive, Front and Rear Gardens and Double Garage.
  • Blantyre Road, Normanby - £180,000
    +
    Blantyre Road, Normanby. TS6 OEJ
    £180,000
    3 Bed Semi Detached House.
  • Keverstone Grove, Billingham. TS23 3RW - £125,000
    +
    Keverstone Grove, Billingham. TS23 3RW
    £125,000
    Two Bedroom Semi Detached Dormer Bungalow. Located in this Ever Popular Area of Billingham.
  • Darlington Road, Hartburn. TS18 5HA - £384,995
    +
    Darlington Road, Hartburn. TS18 5HA
    £384,995
    4 Bed Detached Home, 3 Receptions. A High Class Finish and Generous Accommodation Throughout Combined with a Large Plot and Gardens Make This Home a Rarity.
  • Ormesby Bank, Middlesbrough. TS7 9ED - £145,000
    +
    Ormesby Bank, Middlesbrough. TS7 9ED
    £145,000
    A Mature Bungalow in a Sought After Location, Occupying a Generous Plot and Requiring Some Updating.
  • Branksome Avenue, Tollesby. TS5 7PA - £135,000
    +
    Branksome Avenue, Tollesby. TS5 7PA
    £135,000
    Tastefully Decorated Three Bedroom Semi Detached Family Home. Positioned within the Popular Residential Area of Tollesby
  • The Green, Kirklevington, Yarm. TS15 9NW - £285,000
    +
    The Green, Kirklevington, Yarm. TS15 9NW
    £285,000
    A Deceptively Spacious, Four Bedroom Detached Family Residence, Benefitting From A Full Width Ground Floor Extension To The Rear.
  • Lowestoft, Redcar. TS10 4GJ - £220,000
    +
    Lowestoft, Redcar. TS10 4GJ
    £220,000
    This Impressive Four Bedroom Detached Family Home Boasts an Enviable Plot with Generous Drive, Front and Rear Gardens and Double Garage.
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