Breaking Property News – 26/06/2023

June 26, 2023

Daily bite-sized proptech and property news in partnership with Proptech-X.

 

Did Rishi Sunak make a fatal error in SDLT taxation policy causing a potential housing crash.

Whilst Chancellor for the Exchequer did Rishi Sunak make a fatal error in SDLT taxation policy causing a potential housing crash. With Brexit, Covid, Boris, and three PM’s in the space of a few months, it has been hard to see what has been thought out government policy, and what is just reactionary legislation to act as a sticking plaster. But as we suffer our thirteenth and probably not our last Bank of England rate rise, it is time to ask who is to blame.

For my money, the incumbent PM Rishi Sunak, whilst in his previous role as Chancellor of the Exchequer is guilty as charged, not only has he allowed about £26BN of tax payers money to go walkabout to criminals who abused Covid funding. Rishi stoked the fires of hyper-house-inflation with typically a 20% rise in house value in 24-months.

Now we as a nation are dealing with the fallout of this scandalous ill thought out SDLT giveaway, that has meant for many their mortgage repayments are set to increase by 50% just a the time the CALC still rages. Fiscal competency should be the compass of any Chancellor, this one just went with a populist cure all that was always going to funnel activity and inflate prices.

 

Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X

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

Estate Agent Talk

Mortgage overpayments in a confident market

Financial experts are encouraging homeowners and first-time buyers to take a fresh look at mortgage overpayments as confidence builds in the UK property market and interest rates begin to ease. With major lenders cutting rates, improved loan-to-value options for buyers, and growing optimism in the 2026 market, mortgage overpayments are emerging as a powerful and…
Read More →
Breaking News

House price growth remained subdued in August

UK annual house price growth remained broadly stable in August at 1.6% House prices were up 0.2% month on month Headlines Aug-26 Jul-26‡ Monthly Index* 550.1 549.1 Monthly Change* 0.2% -0.1% Annual Change 1.6% 1.4% Average Price (not seasonally adjusted) £275,465 £276,581 * Seasonally adjusted figure (note that monthly % changes are revised when seasonal…
Read More →
Letting Agent Talk

What Adds Three Weeks to Leasehold Conveyancing?

As government reforms target a four-week reduction in homebuying times, Konnect You analysis points to management packs, extra lease enquiries, third-party responses and title issues as recurring leasehold bottlenecks. The government is targeting a reduction of around four weeks in the homebuying process through reforms published in June 2026. Its roadmap proposes more property information upfront and recognises that leaseholders can face delays…
Read More →
bank of england interest rate
Breaking News

Bank of England Money and Credit Report July 2026

Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals decreased to £4.3 billion in July, from £7.7 billion…
Read More →
Breaking News

Breaking Property News 1/9/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   infinitSpace to be new operating partner providing technology and operational infrastructure The Stack, Amsterdam’s new home for AI founders and builders, has selected infinitSpace as its Workspace Operating Partner ahead of its opening in September. The partnership will provide the technology and operational infrastructure behind The…
Read More →
Breaking News

Why Living Near London’s Top Schools Costs a Fortune

Homes near London’s top private schools command premiums of up to 77%   The latest research from London lettings and estate agent, Benham and Reeves, has revealed that homes located close to some of the capital’s highest-ranking private schools command substantial premiums, with property values sitting as much as 77% above the wider local authority average.…
Read More →