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Capital gains tax – the impact of speculation, the importance of confidence and the risk to revenue

Speculation about an upcoming rise in CGT is already affecting decisions
Olly Spero. (Hartnell Taylor Cook)
Olly Spero. (Hartnell Taylor Cook)
By Oliver Spero
Hartnell Taylor Cook
September 22, 2026 | 6:00 AM

Growth in property is driven by two things: confidence and liquidity. Without these, deals stagnate and development slows. Speculation holds great power, with the expectation of new policy having as great an impact on investment as actual policy change.

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News | Capital gains tax – the impact of speculation, the importance of confidence and the risk to revenue