Posts Tagged ‘Stamp duty’
Increased activity due to stamp duty deadline
UK property prices are expected to slow in the coming months due to concerns about the June 23 European Union referendum and global economic uncertainty, February saw strong growth in property prices across the UK except for London, the rush to buy before the stamp duty hike in April will probably see strong figures continue …
Read MoreNationwide HPI for February
In it’s monthly House Price Index (HPI) report, the Nationwide reported house prices increased by 0.3% in February, no change from the previous month, a slight acceleration in annual house price growth to 4.8%. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist said: “UK house price growth remained steady in February, with prices increasing…
Read MoreHomebuyers save hundreds of millions from stamp duty reform
A government announcement published at the beggining of this week states that over 780,000 homebuyers saved an estimated £657 million on Stamp Duty Land Tax (SDLT) in the year since the tax was reformed. Transactions levels at the top end of the market remained constant under the new regime and stamp duty receipts from homes…
Read MoreVarious factors weighing on housing market activity
Interest rates are expected to remain at their record lows until 2019, according to recent forecasts, the Governor of the Bank of England, Mark Carney, was recently reported as saying “an unforgiving global environment was likely to keep rates at a record low of 0.5pc for longer than previously expected”. With the average mortgage loan-to-income…
Read MoreFixed rate and remortgage lending.
According to a Latest News article from the Mortgage Advice Bureau their National Mortgage Index (NMI) shows more people are choosing to fix their mortgage rate. When compared to the number of people fixing last year, it shows that fixing is now 1.6% more popular than it was a year ago, when 93.1% decided to., there…
Read MoreNear term pressure on house prices
A steady rise in housing supply is being offset by a dash to invest in homes for the rental market ahead of a tax hike in April, which in turn is driving up house prices, the number of homes up for sale has fallen, down 6% overall, that is according to the Royal Institute for…
Read MoreLandlords need to be aware of changes.
No more so than now do Landlords need to be aware of impending changes to their industry, for the past year there has been major changes in the way they should operate and how their profitability should be calculated, most recently are the changes to their mortgage tax relief. The most vunerable of landlords are…
Read MoreGood news for first-time-buyers.
Rightmove reports today that there is surprisingly good new for first time buyers with prices coming to a standstill and more “fresh” property choice. Fist time buyers saw a 6% year-on-year jump in newly marketed-properties in their favoured market sector, prices have hardly risen suggesting the impending stamp duty levy could be having a calming…
Read MoreBuy-to-Let becomes less attractive as an investment.
It would appear that buy-to-let as an investment is becoming less and less attractive, that is the opinion of the Chief Executive of Hargreaves Landsdown Ian Gorham who was quoted in the Mail on Sunday as saying a buy-to-let investment is just too expensive and too much like hard work. The year 2015 has certainly…
Read MoreRightmove predict 6% rise in 2016
According to Rightmove House Price Index report, the strongest December since 2006 and a forecast of 6% rise in 2016. In their latest report Rightmove urges first time sellers and financially-stretched landlords to sell by April, while first-time buyers may want to wait for a better deal until additional stamp duty on buy-to-let properties gives…
Read MoreEffects of extra stamp duty cost.
In the recent Autumn Statement George Osborne announced that there would be an additional 3% stamp duty on second homes and buy to let properties, this increase will come into force from April 2016, adding thousands in tax. Potential buy-to-let purchasers in a rush to avoid the additional stamp duty rate could fuel a 7%…
Read MoreThe future for Buy-to-Let
Following the election back in May of this year there was one sector that shined out above the rest in the property industry, that was buy-to-let, how things can change in just over 6 months. Very few buy-to-let stakeholders would have imagined that when the Conservatives were returned to office without the hinderance of the…
Read MoreRecord high for UK house prices
According to figures recently released from Haart average UK house prices have experienced the steepest annual rise on record with a 10.5% growth from October 2014. Over the last year the supply of new properties had fallen by 10.1%, roughly 12 buyers are chasing each property on the market, Haart stated new buyer registrations had…
Read MoreBoost to housebuilding shares
The stock market (FTSE 100) rose yesterday with housebuilding stocks leading the way after Chancellor George Osborne announced measures to support the sector in his joint Autumn Statement and Spending Review, by the end of the session the housebuilding stocks had come off their earlier highs but remained the top risers including Taylor Wimpey, Persimmon…
Read MoreFall in sales of million pound homes
According to the latest research from Lloyds Bank sales of properties worth at least a million pounds have fallen in the first half of 2015. Sales are down by 11% compared to the same period in 2014 that is from from 6,303 to 5,599, this is in stark contrast to the 46% increase seen in…
Read More