D_Property

A recent spike in buyer enquiries shows how the stamp duty holiday is already boosting the market. Has the government done enough for young property investors? Property investors aged between 18 and 34 are the most likely to take advantage of the government’s recent stamp duty change, new research reveals. According to a survey by FJP Investment, 43% of this age group plan to invest before next April. Across all investor age groups, almost a quarter (24%) intend to buy one or more properties before tax rates change. Data from Rightmove and a number of other property firms and agencies shows that interest in the UK property market has soared in recent weeks. The new temporary […]

The UK housing market saw £37bn worth of property sales agreed in July, representing the busiest month for home buying since data was first tracked by Rightmove. Rightmove’s weekly sales agreed figure was also up by 60% compared to the same week in 2019, as buyers continue with their home-moving plans. There were unseasonal all-time highs for new seller asking prices in seven regiong, with rising popularity of countryside locations driving prices in places like Devon and Cornwall. Miles Shipside, property expert at Rightmove, said: “More property is coming to market than a year ago in all regions, and at a national level the new supply and heightened demand seem relatively balanced. However, those expressing most […]

The stamp duty holiday introduced from the 8th July is helping to lift demand, The RICS UK Residential Market Survey suggests. In July a net 75% of surveyors saw a rise in new buyer enquiries, the second month in a row that demand has rebounded significantly. A net 59% also saw instructions rise, up from 41% in June. RICS noted that the stamp duty holiday is having a big impact on demand based on anecdotal evidence. Ross Counsell, chartered surveyor and director at property buyers, Good Move, said: “Today’s RICS statistics reveal the UK housing market gained further momentum last month which showcases the ongoing recovery – something we’re all happy to hear after a turbulent […]

House prices hit a new all time high in July as the property market gradually reopened, after being put on pause during the coronavirus lockdown. According to the latest Halifax House Price Index the average price of a home was £241,604 last month, 1.7% higher than June’s £237,834. Prices are 3.8% higher than July 2019. Halifax managing director Russell Galley said pent-up demand and a lack of available houses had combined to push up prices. The government’s cut in stamp duty had also boosted buyers’ enthusiasm, he said. Last month Chancellor Rishi Sunak announced a temporary suspension of stamp duty on property sales up to £500,000 in England and Northern Ireland. These latest figures mirror recent […]

The annual rate of UK house price growth edged up to 2.7% in June, after rising 0.2% on the month according to the latest data by Zoopla. Buyer demand has seen strong growth since housing markets reopened, however the number of new homes being listed has not experienced the same increases. This is creating an imbalance of low supply and high demand and is contributing to the house price growth seen in Zoopla’s data. Manchester, Liverpool and Sheffield are in the top six cities for levels of annual house price growth. According to the data, London has seen the biggest market changes since the stamp duty holiday was implemented by the Chancellor, as sales jumped by […]