Property intergenerational war being stirred up by Labour
Labour is stirring up an intergenerational war - pitching young adults against their parents and grandparents, with promises to help young people while taxing their parents and grandparents who are property owners and have invested in property buy to let for their pensions, according to Nick Leeming, Chairman of national estate agents Jackson-Stops & Staff, with 44 offices nationwide. Nick Leeming said: We want to avoid an intergenerational conflict where the young are pitched against the old over property ownership. This is not helpful and doesnt represent the reality of how much has changed in the property market over the past 40 years. We need policies that do not distort markets as this has a short-term effect, rather than delivering a long-term benefit. We support help for first time buyers but Labour promises to fund the abolition of stamp duty under 300,000 through a series of measures against landlords which are neither specific nor realistic. Landlords and property investors are to be encouraged so that the young can opt to rent or buy.