Posts Tagged ‘Stamp duty’
Wales draft budget includes proposals for average first-time buyer to pay no stamp duty
This week Finance Secretary Mark Drakeford unveiled a new budget for Wales, reflecting the Welsh Government’s new tax and borrowing powers. In the draft budget the Finance Secretary announces new progressive rates and bands for land transaction tax (LTT) and landfill disposals tax (LDT), which will replace stamp duty land tax and landfill tax, respectively…
Read MoreThe PRS sector could still be seen as an attractive opportunity for investors says Your Move
The latest Your Move Buy-to-Let Index July 2017 data, August 2017 report headlines ‘Bottleneck of housing supply sees rents rise in July’. Average rents increased in most areas of England and Wales this month, with a fall in housing stock causing prices to rise. Shrinking property supply pushes up rent levels, average rent across England…
Read MoreFirst-time buyer’s increase to 36%
February saw the rate of first-time buyer’s increase to 36%, a demographic that currently accounts for just over one third of February’s property market activity, the largest proportion of first-time buyers since July 2011. It is suspected that the reason for this is twofold; near zero base rate mortgages, and the drop in buy to…
Read MoreMore first-time buyers are having to pay stamp duty on their home purchase
As house prices continue to rise more first-time buyers (FTB) are having to pay stamp duty on the purchase of their properties, just 26% of FTB’s in 2016 were able to buy properties worth under the stamp duty threshold (£125k), that is down from 47% of FTB’s 10 years earlier, according to data from the…
Read MoreHunters reports that strong performance continues
Hunters Property PLC, one of the UK’s largest National sales and lettings agency and franchise businesses, yesterday published their latest trading update. The trading update began: The strong performance that we reported at the time of our interim results in September has continued in the second half of the year, despite the well-publicised uncertainty in…
Read MoreProperty Personnel slams Chancellor for not slashing stamp duty
The Managing Director of the UK_s longest-established estate agent recruitment consultancy has slammed the Chancellor for failing to reduce stamp duty in today_s Autumn Statement. Property Personnel Managing Director Anthony Hesse said: _Slashing the rate of stamp duty would have been Philip Hammond_s single most effective fix for UK finances. There is no more economically…
Read MoreAutumn Budget Statement – What’s in it for Housing?
Later today the Chancellor Philip Hammond will deliver his Autumn Budget Statement to the House of Commons, it will be the first for the new Chancellor and Prime Minister Theresa May. Some experts are expecting a possible cut in stamp duty on house purchase to help regenerate the housing market which appears to have slowed…
Read MoreGovernment vs Property – does Nanny know best?
Whether it’s to do with our sugar intake, types of cars we drive or consumption of fruit each day, it seems the Government have our best interests at heart. So one would assume that when the powers that be, “fine-tune” the property market, that they are looking to help us all. Their thinking is that by aiming to…
Read MoreIs the cost of rent rising?
2015 saw the cost of rent continue to rise, but could things be set to change for the better? At the end of April, the Office of National Statistics reported that the cost of rent in the UK had risen by 2.6% over the last year. In the same period, average weekly earnings grew by…
Read MoreRightmove House Price Index (May)
The latest Rightmove House Price Index report headlines buy-to-let feast leaves higher prices for first time buyers. Modest May rise of 0.4% (+£1,118) in price of property coming to market in the last month masks nasty spring surprise for first-time buyers. An 80% uplift in March transaction numbers has left behind a property drought…
Read MoreNew Tenancy rents continue to rise.
The HomeLet Rental Index figures released yesterday show that rents agreed on new tenancies across the UK over the three months to the end of April have continued to grow at remarkably consistent rate. They state: Rents rise in all but one regions of the UK over three months to April, despite concerns about impact…
Read MoreNationwide HPI April
According to the Nationwide House Price Index (HPI) April report released today, the annual pace of house price growth moderates in April. House prices increased by 0.25% in April, down from the 0.7% in March. Annual house price growth slows to 4.9%, down from 5.7% in March. Commenting on the figures, Robert Gardner, Nationwide’s Chief…
Read More“Granny Flats” now not to be included
The controversial new tax for buy-to-let and second homes introduced from 1st of April will not now include homeowners with self-contained “granny flats”, the government will table an amendment to correct the error and ensure fair treatment for annexes. The problem was the changes would have meant anyone buying a home with a granny flat…
Read MoreStamp duty changes apply from today
The new rate of stamp duty on buy-to-let property and second homes comes into force today 1st April. There are exemptions however to this change in property tax, buying a property for less than £40,000, caravan or houseboat will not be included. Home movers who buy their next property before selling the one they are…
Read MoreFears of further clampdown on buy-to-let sector
Buy-to-let investment has risen by almost 100% over the last decade, at present it is around 14.5% of new mortgage lending, this represents a very strong group of investors. There are serious concerns coming from the Bank of England’s regulatory department that an increase in UK base rates, whenever this may be, could set off…
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