Over in Wales Carol Peett, managing director of West Wales Property Finders thinks that the Chancellor’s announcements will see bigger changes than meet the eye. “The Chancellor confirmed that people will be allowed to put their pension pots in other investment opportunities rather than an annuity. This move will give the property sector a major boost. Many pensioners will look at the buy to let, or holiday property sectors, as an attractive place to put their hard earned money.” And it’s not just pensioners who will benefit, “Of equal importance will be the new “Help to Buy” ISA for first-time buyers, which will mean the government tops up by £50 every £200 saved for a deposit. More buyers in the market, particularly at the entry level, will encourage house builders to target this growth sector. It will also mean ‘second movers’, and ‘downsizers’ will be in a better position as there will be more activity in the market.” She added. Major Boost or Missed Opportunity
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