BREAKING NEWS – top 5 stories 04/03/2021

Estate Agent Networking Breaking News

STAMP DUTY HOLIDAY EXTENDED 3-MONTHS

As many pundits predicted the cliff edge of the 31st of March, has been replaced by the cliff edge of the 31st of June, thanks to the Chancellor. And for the following three-months, ending on the 31st of September there will be no SDLT payable in the £125,000 to £250,000 stamp duty bracket.

Is this good news? Well it means that house prices will rise, first time buyers will need even larger deposits, and we then have furlough finishing possibly in September – unemployment may see a sharp uptick.

HELP FOR TENANTS AND LANDLORDS

The budget did many things, but not for the rental sector, with Lockdown 3.0 still in full swing, and 800,000 plus not paying the full amount of rent, landlords and tenants are still in a whole world of pain. Add in the legal gridlock, and the backlog of cases to be heard at court, the pressure on this sector is growing daily.

CONNELS ACQUIRES FIVE MORE BRANCHES

Not content with acquiring the Countrywide PLC kingdom, Connell’s show no sign of stopping their big acquisition trail by buying Hall and Benson, a five-branch independent, multi-discipline agency with roots reaching back almost thirty years.

Clearly the pandemic, and the amount of founders of good businesses who are now looking at retirement, is hastening the consolidation of the real estate landscape in the UK.

MORE ACQUISITIONS

A retirement sale of Independent Sinclair Properties, founded by Niall McTurk, a topflight, student accommodation centric agency based in York has been announced by the new owner Linley & Simpson, who are continuing their acquisition strategy. It brings their branch head count up to 23.

THE FULL BUDGET – CORPORATION TAX TO RISE BY 31.5%

The full budget is set out in full here,

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/966161/Budget_2021_Web_accessible.pdf

Notable takeaways are that corporation tax is set to rise by 6% an increase of 31.5% in two-years’ time, which means big business is looking to be a big loser. Tax thresholds have been frozen which will have a detrimental effect.

But there does seem to be a very positive push towards digital and technology, which with my other proptech hat on – gives a glimmer of hope that the UK can look to dominate the 4th Industrial revolution with its already impressive tech credentials.

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate.

You May Also Enjoy

Breaking News

Popping the Asking Price Bubble

Where in the Uk Can Buyers Snap Up Property Bargains and Where Properties Go for a Premium Above Asking Price   New research from fast selling property company, Upstix has uncovered the UK’s most surprising postcodes for snapping up a property at bargain prices this year, highlighting a widening gap between sellers’ expectations and the…
Read More
Rightmove logo
Breaking News

Highest demand to lease office space since pre-pandemic

The latest insights from the UK’s number one commercial property website Rightmove, reveals that the number of unique enquiries to lease office space is at its highest point since pre-pandemic, as businesses look for spaces that meet modern requirements. Demand to lease office space is 19% higher than the same period a year ago and…
Read More
Planning disputes on new build land
Estate Agent Talk

Planning consultations for major infrastructure to be streamlined

Robert Bruce, a planning and infrastructure partner at law firm Freeths LLP, said he: “Welcomed the change as a significant step to speeding up the DCO process and the focus on the quality and effectiveness of the consultation, rather than box ticking and a risk averse approach to pre-application consultation due to the current legal…
Read More
Breaking News

‘The property ladder pulls further away’ warns Open Property Group

For many first-time buyers across England, the dream of homeownership continues to slip further out of reach. Despite rising wages, soaring house prices are making it harder than ever to get on the property ladder. A leading UK professional house buying company ‘Open Property Group’ based in Buckinghamshire UK, has raised concerns over the ongoing…
Read More
Estate Agent Talk

How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase

Wondering how long it takes to buy a house in the UK? The average timeline ranges from 8 to 22 weeks, but even that can stretch significantly due to unexpected delays, especially if you’re a first-time buyer or caught in a chain. That’s why working with experienced professionals like Belvoir — one of the UK’s…
Read More
Love or Hate Rightmove
Breaking News

Rightmove to host Renters’ Rights Bill webinar with Guild of Lettings

Rightmove is hosting a live and interactive webinar session with the Guild of Lettings to help agents get Renters’ Rights Ready. The webinar will take place from 10:00am – 11:00am on Wednesday 23rd April. Susie Crolla, Managing Director for the Guild of Lettings, will be joining Rightmove to help agents with questions they may have about…
Read More