Property News Roundup
8th July 2019
The latest news this week in the Property Industry:
How much could prime property prices be increased by under new plans by Boris?
In 2014, George Osborne shook up stamp duty thresholds across the UK. Five years later, Boris wants to roll them back. The changes, made by the then Chancellor, saw the tax thresholds for prime and super-prime properties increase from 5-7% to 10-12%, a move that brought an immediate decline in buyer sentiment and a resulting dip in sold prices across the top end of the market.Read More…
Property market remains resilient as average house prices settle in June
Halifax have released their latest figures this morning and revealed that, despite a less than certain political and financial climate, the UK housing market remains steady. According to the lender, on a monthly basis, house prices fell by just 0.3%, 5.7% higher than in the same three months a year earlier. Halifax says the average price for a home in the UK now stands at £237,110. Read More…
Where is currently the UK’s quickest selling postcode?
The latest research from estate agent comparison site, GetAgent.co.uk, takes a look across the UK to find where homes are selling the quickest in current market conditions. GetAgent’s data looks at all estate agent property sales across each postcode and not only how long they take to sell as a whole, but how this differs between first listed to under offer, and under offer to completion. Read More…
Vast majority of property investors believe government is failing the UK property market
New research from MT Finance has revealed that an overwhelming 97% of property investors do not think the Government is doing enough to support the UK property market. When asked what changes the government could introduce to better support the UK property market, 50% of the 135 property investors surveyed said scrapping the 3% stamp duty surcharge would improve conditions in UK real estate. Read More…
Professional landlords starting to dominate the market
Challenging market conditions, including a combination of increased tax, industry regulation and political uncertainty, seem to have caused a dip in the number of small-scale and accidental landlords in recent years. This has coincided with a rise in the number of professional landlords with large rental property portfolios. In view of this trend, letting agents must ensure they provide a service that meets the expectations of experienced landlords, according to PayProp. Read More…
