Overall the Budget was helpful for the housing market, although we could always ask for more. The change in stamp duty lifts the vast majority of first time buyers out of the tax and that will help to encourage more activity in the market. But movers also suffer from the tax and it would have … Read more
International buyers have traditionally seen the UK as a safe haven to invest in property. They’ve seen prime UK property perform better than many other assets and also property in other major cities across the globe. International buyers have historically bought in prime central London, but today they’re increasingly looking beyond the most expensive … Read more
There is no doubt that the UK will launch into uncharted waters as it leaves EU membership. As it begins to navigate the open seas, there will be some choppy times as consumers and businesses try to assess the implications. Confidence will rise and fall along the way, but assuming a relatively smooth transition, the … Read more
We all know that inflation is rising – largely because sterling has fallen against other currencies, making imports more expensive. We import quite a lot so it adds a fair bit to the average inflation rate. But which inflation rate? There’s RPI – the retail prices index; CPI the – consumer price index and now … Read more
Just shy of 1.3 million people bought a home in 2007. A decade ago and the top of the last housing market cycle. Very soon after buying, these people saw the value of their home dip to below what they’d paid for it. For most the fall in value was a paper loss as they … Read more
There have been numerous reports out this week showing that first time buyers have seen a steep rise in property prices. Rightmove have stated that the average asking price for a first time buyer property (with 2 or less bedrooms) has risen by 3% during September. In contrast to this figure, the annual verage price growth across all property types … Read more
The latest Countrywide Lettings Index shows that in the three months after the introduction of the new stamp duty surcharge (Q2 2016), landlord purchases accounted for only 8% of all homes bought, the lowest proportion since 2010 and 5 percentage points lower than the same period last year.
The final chapter of the housing journey begins when people start trading in large family homes for smaller ones.