BREAKING NEWS – top 5 stories 22/03/2021
HUNTERS NOW OFFICIALLY PART OF THE PROPERTY FRANCHISE GROUP
The sales of the Hunters Group to the TPFG was finalised last week, growing the footprint of the group, Hunters has within it a number of successful brands including Countrywide Properties.
ON THE MARKET TO ACQUIRE ALL OF GLANTY
Already owning 20% of the company Glanty, OnTheMarket are looking to buy the remaining 80% by the end of May 2021. The sum involved is not known, but the original buy in was £797,000 for a fifth of the company. Teclet is the centrepiece of the operation.
ASKING PRICES AT AN ALL TIME HIGH
New instructions to the market are according to recent statistics at an all time high, spurred on by an extension to the SDLT holiday, interest rates remaining at a base rate of 0.1% and the usual Spring market kicking off. The clouds on the horizon are of course the amount of people on Furlough, due to end in September as is all forms of stamp duty revisions.
WILL THE PROPERTY SECTOR BE FURTHER TAXED THIS WEEK?
This week the government unveils what if any revisions will be happening in the property sector, including Capital Gains Tax. There had been noises of a hike to 20% and 40% respectively for those in lower and higher rate tax bands looking to dispose of a second or non-main residence. Let us see what the chancellor has up his sleeve.
WILL THE NEW STAMP DUTY DEADLINE OF JUNE CAUSE FUTURE PROBLEMS?
Though June seems a long way off, some industry figures are already concerned that the artificial cut off date of the 30th of June may cause havoc to pipeline sales that will not be completing by then. With a typical sale taking 26 weeks, clearly the huge majority of sales being agreed presently will not transact in time. And will this lead to sales being re-negotiated as we get closer to the extended Rishi Sunak finishing line.
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