Comment from West End specialist estate agency, LDG

Laurence Glynne, Partner of West End Specialist estate agency, LDG, said: “The 28% rise in CGT for higher rate tax payers as opposed to the feared 40-50% is good news for investors and the property market in general.

It means that anyone holding back from putting their property on the market may consider their options more favourably, not only due to the lower than expected rate, but because they will be encouraged that investment buyers are unlikely to be deterred by the increase.

“Approximately 30% of our property sales last year were to investors, and we don’t expect a decline in investment purchases following today’s announcement. People have been prepared for the worst for the last few weeks, so this is more of a ‘bruise’ than severe muscular damage.”

For further information and to enquire about properties LDG is currently marketing, please visit www.ldg.co.uk or telephone: 020 7580 1010.

LDG is a unique bespoke West End estate agents established in 1987 by Laurence Glynne. Since being established, LDG has built a substantial client base and a comprehensive catalogue of property investors, purchasers and landlords who recognise LDG as estate agency market leaders in the prime West End areas: Fitzrovia, Soho, Covent Garden, Bloomsbury and Marylebone. The company, and NAEA and ARLA member, has both a sales and lettings department, and has recently opened a commercial department to enhance its overall property service.