Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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Gove claims Labour plans to hike Stamp Duty for first-time buyers
Housing Secretary Michael Gove says if Labour doesn't make a Stamp Duty cut permanent then FTBs could pay more than £11K extra.
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Major housebuilder in shock switch from sales to renting
Berkeley Homes says the strategic move is in resoponse to 'sluggish' sales within the new homes market, not helped by the withdrawal of Help to Buy.
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Really? Moving home more stressful than COVID says conveyancing firm
Research from My Home Move Conveyancing reveals 77% of home movers experienced higher levels of stress as a direct result of their last home move.
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AGENT: ‘Overseas buyers rushing to buy before Labour takes power’
Beauchamp Estates has seen a 30% rise in overseas clients enquiring about suitable homes in the Capital that they can buy and get fast-tracked before the Election.
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Estate agents urge BoE to cut interest rates as inflation drops
The target for the headline CPI figure is 2% - set by the Bank of England and central banks across the world – and a drop to 2% had been widely forecast.
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Price reductions continue to blight prime London market
More than 60% of sold properties in South Kensington are being reduced prior to a deal being agreed, compared to 37% in Mayfair & St James’s says LonRes.
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Cheaper properties and northern regions maintain asking price momentum
Rightmove reports prices flatlining after reaching a record high in May with the average price of property coming to the market dropping by just £21 to £375,110.
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Renting still cheaper than buying with a 5% deposit
Mortgage guarantee schemes are in Conservative and Labour manifestos, but their effectiveness will probably be determined by Threadneedle Street rather than Downing Street.
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Chances of UK cut in interest rates slides further after Fed maintains rates
US policymakers indicated that it would not be appropriate to lower rates until they have greater confidence that inflation is moving sustainably toward the 2% target.
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Mortgage delays and long property chains blamed for majority of gazumping cases
Market Financial Solutions boss Paresh Raja says agents, brokers and lenders must work together to reduce the risk of delays and ensure that buyers can secure finance at pace.
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