Tag: Stamp Duty
-
Housebuilding Hopes – Can the Spring Budget Rebuild Britain’s Property Dream?
The upcoming spring budget is poised to be a pivotal moment that could either reinvigorate the struggling housebuilding sector or deepen its woes. With mortgage rates on a downward trend and a general election on the horizon, the government’s next moves could be crucial in addressing the nation’s acute housing shortage. A Rough Year for…
-
Landlords Face Tax Squeeze – How to Boost Profits Despite Rising Taxes
As we step into a new tax year this April, landlords across the UK are bracing for a significant hit to their earnings. The capital gains tax (CGT) allowance, a critical figure for anyone selling buy-to-let properties or other investments, is undergoing yet another reduction. Only last year, landlords could enjoy a CGT allowance of…
-
Super Prime Rentals Rocket in London’s Prime Areas
The number of super prime tenancies has seen a significant boost, with a 10% increase in 2023. This growth marks a resurgence in the most prestigious segment of the UK rental market, according to recent findings from Knight Frank research. Super prime tenancies are essentially the crème de la crème of rental properties. They’re classified…
-
Wales Leads the Way in Rental Yields – A Look at the UK’s BTL Hotspots
Wales has surged ahead in the rental market, achieving an impressive 8.9% yield, which is a 2.2% increase over the past year. This remarkable growth, including a 1.7% rise just in the last quarter of 2023, has positioned Wales at the top of the rental yield league table. Not far behind, the North West and…
-
Landlords Shield Assets from Rising Rates, Set Up Record Number of Companies
Landlords across Britain have been rapidly setting up limited companies to manage their buy-to-let properties. This move is seen as a strategy to protect themselves from the financial strain of higher interest rates. According to the latest data from Hamptons, a record-breaking 50,004 new limited buy-to-let companies were established in 2023, a 3% increase from…
-
Huddersfield’s Housing Market Soars
Huddersfield, a town in West Yorkshire, is witnessing a remarkable surge in house prices. According to estate agent Rob Assi, homes with modern and stylish decor, like a two-bedroom house in the village of Golcar near Huddersfield, are particularly in demand. This trend is exemplified by the experience of Anna Potocki and Toni Haigh, featured…
-
First-Time Homebuyers Get a Little Help from Government Schemes
According to a revealing survey by Uswitch, a staggering 50% of first-time buyers in the UK made their way onto the property ladder thanks to government initiatives. The First Homes Scheme stands out as the superhero here, aiding 36% of the surveyed buyers in their journey to homeownership over the past two years. First Homes…
-
Mortgage Market Set for a Comeback in 2024 After Tough Times
The UK’s mortgage market has faced a challenging period, with mortgage approvals taking a significant dip in 2023. However, there’s a silver lining on the horizon as experts predict a rebound in 2024. According to analysis by GetAgent, a leading comparison website, there was a notable drop in the number of mortgages approved in 2023.…
-
UK’s First-Time Homebuyers at a Decade Low
Recent data from Yorkshire Building Society reveals a concerning trend in the UK housing market: the number of first-time buyers with mortgages in 2023 dropped to its lowest point in ten years. This decline highlights growing challenges in affordability, influenced by rising mortgage rates and persistently high house prices. The Stark Numbers In 2023, approximately…
-
Homes Take Longer to Sell in 2023
The latest data from Zoopla has revealed some interesting trends in the UK housing market. One of the key findings is that properties are taking longer to sell this year. The average time a property stays on the market has increased from 25 days in 2022 to 34 days in 2023. This could be a…