UK property sales surge as investors try to beat tax hike

London

BRITISH property valuers reported a surge of activity on Thursday as property investors tried to beat an increase in transaction taxes on rental investments coming into force in April.

Demand for housing remains buoyant, lifted by tight supply, record employment and cheap mortgage rates, even as the global economic outlook darkens - something which prompted the Confederation of British Industry (CBI) to follow the Bank of England and downgrade its economic growth forecasts on Thursday.