Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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Rent slump in London sees ‘record drops’ says latest HomeLet report
Average UK annual rent per tenancy is now £11,808 as rent rose by 6.2% outside the M25 and plummeted by 4.7% inside it.
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Stamp Duty petition signed by 150k people, including many agents, ‘swayed Rishi’
Petitions Committee chairman, Catherine McKinnell hails success of campaign to change Chancellor's mind on Stamp Duty holiday extension.
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LATEST: Industry reaction to Sunak’s ‘double bubble’ 2021 budget
Rishi Sunak reveals expected Stamp Duty holiday extension and first time buyer mortgage leg-up, but corporation tax is to rise in 2023.
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British agency lands global coup with US luxury instruction
Beauchamp Estates has been picked as the sole international agent to market The Beverley House in Los Angeles.
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RICS revamps surveys after consumers give negative feedback
Initiative is results of its Home Survey Standard launched last year to usher in changes to its surveys after 'listening to consumers'.
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Chancellor to re-launch Help to Buy mortgage scheme for first time buyers
Government is to underwrite mortgages once again for buyers who can only scrape together a 5% deposit for their first home.
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Sales fall-throughs cost estate agents £4k each time, says new research
Propertymark says shocking figures is key reason why it wants Chancellor to taper the Stamp Duty holiday deadline and prevent more fall-throughs.
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Stamp duty extension must include tapering clause, warns leading conveyancer
Midlands and national firm Adcocks says tapering is needed to relieve pressure on an already stressed conveyancing system.
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Conveyancers call for end to ‘intolerant and aggressive emails’
Campaign by trade mag to promote greater harmony says the pressure of the sales pipeline is driving some stakeholders to be unpleasant to each other.
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Stamp duty holiday to be extended until end of June, claims leak
Chancellor Rishi Sunak is expected to announced a stamp duty extension to the end of June in his budget speech next week, it has been leaked. The Times has reported this morning that Sunak wants to keep the property market in good shape as the economy emerges from its Covid deep freeze. This will be good news for the thousands sales currently going through the conveyancing process at the moment. Rightmove estimates an additional 300,000 property transactions in England could benefit from the tax saving of an extended holiday, based on previous HMRC data. “Currently, Rightmove estimates that 100,000 buyers who agreed a purchase last year are set to lose out, if the deadline stays as 31st March,” a spokesperson says. Roadmap Moving the stamp duty holiday ‘cliff face’ to June 30th would also align the market with the final easing or restrictions announced by Boris Johnson in his roadmap announcement on Monday. The leaked announcement ahead of the 3rd March budget announcement also suggests that the Ministers have been listening to the industry. Agents, conveyancers, surveyors, lenders and removal firms have all been warning since the New Year that the logjams in the sales progression process were due to…
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