If you are a landlord with several rental homes, you may wish to enlist the assistance of property accountants in the months to come, in order to cope with any unusually substantial increases in house prices.
Whether you are trying to handle capital growth in your property portfolio in a tax-efficient way, or looking to purchase new properties in a climate of rapidly increasing prices, property accountants can help you to determine the best way to proceed.
In the summer of 2013, that could become particularly important, as many homeowners are now expecting to see substantial rises in valuations before the end of the year.
The latest Halifax Housing Market Consumer Confidence Tracker shows a balance – that is, the difference between those expecting a positive house price shift and those expecting a fall – of +33, the highest since April 2011, when the survey began.
Just 12% of people expect to see a fall in house prices in the coming year, compared with 45% who expect an increase.
This represents a positive shift from the overall balance of +20 that was seen in December 2012.
For landlords, however, any substantial increase in valuations could lead to concerns about property tax such as capital gains tax – something our Manchester accountants can help you to forecast and manage.