Chancellor of the Exchequer Rishi Sunak has announced that there will be no stamp duty on homes selling for £500,000 or less; this temporary holiday will last until the end of March 2021. The threshold for ‘no stamp duty’ therefore rises with immediate effect from £125,000 to £500,000. The Chancellor claims that this means nine out of 10 main homes …
The governments announcment has thrown the housing market into chaos.
UK landlords are adapting to the current financial landscape by shifting focus away from risk management to growing their cash reserves and expanding their portfolios. According to the latest research from Mortgage for Business, landlords who are remortgaging are currently doing so primarily to build a war chest, with 30% of property investors according to Mortgage for Business. The specialist …
uying a home has historically been one the defining traditions among British residents, but over recent decades the affordability gap for buyers across the country has on average continued to stretch, and the inequalities that could deepen as a result of the coronavirus pandemic may lead to greater financial hurdles for many, at least over the coming years.
A new analysis reveals three key figures that suggest the rental market will bounce back from the lockdown and the Coronavirus crisis rapidly – and faster than the sales market. In an article exclusively for Letting Agent Today, the head of research at Zoopla – Gráinne Gilmore – explains that while activity in the rental sector has been significantly hit …
The emergency measures announced by chancellor Rishi Sunak this week included a three-month mortgage holiday to protect families who may find themselves in financial difficulty during the Coronavirus outbreak.
The number of residential property sales lodged at the Land Registry declined by 5.6% last year, official data shows. The Land Registry’s latest Price Paid Data report shows it received a total of 994,246 registrations for residential property sales during 2019, down from 1,054,260. This is not necessarily a reflection of total sales as there is a time lag between …
The Association of Residential Letting Agents says the number of tenants successfully negotiating rent reductions has hit an all time low – another likely manifestation of landlords’ resolve after the fees ban. The latest ARLA market snapshot shows the number of tenants negotiating a rent reduction fell to 1.1 per cent last month from 1.6 per cent in November; the …
The housing market is springing into life after December’s election result delivered much-needed stability for home-movers, new Rightmove data has revealed. There has been a 2.3% surge in the price of property being listed for sale, the largest monthly rise we have ever recorded at this time of year, with many signs pointing to an active spring market ahead. Commenting …
The majority government result could pave the way for pent-up demand to be released in the spring market. Rightmove forecasts a 2% rise in price of property coming to market in 2020 as the majority government gives home movers a window of certainty for an active spring moving season. Rightmove’s property expert Miles Shipside said: “With much of the political …