An agency bond says Labour’s plan to slap VAT on private school fees will have a positive effect on pricing of homes near sought-after state schools.
Dominic Agace, chief executive of the Winkworth franchise chain, believes there will be up to a 20% premium on homes near good state schools if the move to impose VAT on private schools goes ahead.
He says: “Parents are facing a big squeeze – a combination of VAT on school fees, and mortgage costs have risen. The VAT move will be a game changer.
“I think we will see more parents opting for a hybrid version, a mix of private and state schools. The result will be up to 20 per cent premium on homes near good state and grammar schools. We will also see an increase in down-sizers as many battle to keep their children in [private] education.”
If Labour wins the July 4 election it is unclear when the private school fees VAT imposition would take effect.
Labour’s housing spokesperson, Bridgit Phillkipson, told LBC this week: “It’s subject to any decisions that will be taken as part of the budget process. I’m not going to commit to a date precisely because it will depend on the parliamentary timetable and fiscal statements by a Chancellor.”
/GregClark-400x310.png)
Housing Secretary Greg Clark, who is also the Levelling Up Secretary,...
Strutt & Parker has revealed where it believes the housing market...
An insurance firm claims estate agents are taught not to quote...
YOPA, the online agency that recently had an extensive TV campaign,...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
The Government may be silent so far on support schemes for...
Shortly after the Leasehold and Freehold Reform Act was granted Royal...
Agency stock has hit a seven-year high but realistic pricing is...
The Government may be silent so far on support schemes for...
Ongoing tax and regulatory clampdowns on landlords have led to warnings...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Jump to latest comment and add your reply
If they can afford private schools, they can afford to pay vat! I didn't even realise it was a thing that they haven't been paying it!
Please login to comment