After months of playing down the prospect of an extension to the stamp tax holiday for property sales of up to £500,000, UK Chancellor Rishi Sunak ultimately opted for a bold new set of stimulus measures for the British housing sector in the 2021 budget unveiled earlier this month. In addition to a three month extension toContinue reading “After lockdowns devastated UK real estate sector, could Covid clauses protect homebuyers and sellers?”
The housing market in England and Wales weakened in December as restrictions were tightened across both nations and the end of the stamp duty holiday drew closer, according to a closely watched survey. Sales, new inquiries, near-term transactions and house price expectations all softened in December, the Royal Institution of Chartered Surveyors’ monthly survey showedContinue reading “Housing market in England and Wales loses momentum”
Even as the EU’s chief Brexit negotiator Michel Barnier stressed the bloc’s willingness to compromise to reach a deal with London, Boris Johnson’s earlier insistence on letting his country crash out of the EU still seems like the most probable option. If Johnson sticks to his words, the decision will sow chaos through the delicate supply chainsContinue reading “Brexit, coronavirus, and the economic crash buffet Britain’s housing market”
Some 325,000 homebuyers who agree to purchase a property before the end of the year are expected to miss out on the stamp duty holiday, costing the economy more than £4 billion.
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Buyers risk missing the Help to Buy and stamp duty deadlines. Nearly one in four agreed sales has collapsed so far this month.
The UK Housing Review published its Autumn Briefing Paper this month, with the document making for uninspiring reading for both private renters and aspiring homeowners looking to plant their first foot on the property ladder. The report, which acts as a supplement to the main spring review, identified a number of vital issues yet to be fullyContinue reading “As Covid’s second wave arrives, UK government grasps for answers on the housing crisis”
For a moment, it seemed as if the UK real estate sector was experiencing a boom in the weeks after the covid lockdown ended. Despite the steepest drop in GDP in the country’s history, the increased demand brought about by months of inactivity in the sector led to a rise in house prices.
The COVID-19 global pandemic that swept the UK – and the world – earlier this year has evidently had a huge negative impact on people’s lives, as well as heavily impacting many industries and businesses. One of the areas to have been worst affected, however, may well be the UK property market.
Rising property prices fuelled by stamp duty freeze will fade away next year with average home losing £7,350, Google search data shows. Google search data shows clicks on the main property sites peaked in August but dropped by 7% this month Experts warn housing prices could fall by up to 3.7% as a result, wipingContinue reading “Britain’s housing boom… will fizzle out”