Looking for a mansion tax loophole? If your house is worth less than £3m, don’t try splitting it up January 28, 2015 In the very late 17th century, when owners of large properties wanted to avoid paying a very unpopular tax, they bricked up their windows. And now, owners of properties that would be affected by Labour’s proposed mansion tax are already seeking ways to get around this 21st-century levy, even though it might not be imposed. [...]
Mortgage lending drops again – but BBA sees light at the end of the tunnel January 27, 2015 Mortgage lending in the UK fell in December for the six month in a row, with gross borrowing levels 12 per cent lower than they were a year ago. Figures published by the British Bankers Association this morning show that the total figure for mortgages stood at £10bn last month. House purchase approvals dropped [...]
Lack of housing hits first-time buyers January 22, 2015 Younger people are finding it difficult to get on the first rung of the housing market ladder due to a shortage of homes. A report by the Office for National Statistics (ONS) published yesterday shows how the total number of houses built per year has fallen from around 250,000 in 1980 to between 150,000 to [...]
UK house prices pull away from Eurozone’s with 11.7 per cent on the year January 21, 2015 British house prices pushed ahead of those in other major economies towards the end of last year, official figures showed yesterday. While cheap money combined with growth in pay and rising employment has conspired to spark a housing market recovery in some countries, other parts of the EU are still falling behind. Only nations like [...]
London house prices: Capital would be hit disproportionately by mansion tax January 20, 2015 The extent to which London will be disproportionately hit by a new mansion tax has been revealed by new research looking into the most expensive properties in the UK Labour has proposed a tax on properties worth over £2m, which, according to research by Knight Frank, means 2.5 per cent of properties in London would [...]
London house prices: Unseasonable heat in the capital’s housing market January 19, 2015 After a muted end to 2014, London house prices grew 0.9 per cent in January, compared to just 0.2 per cent in the first month of 2014. 10 of the 32 boroughs surveyed by Rightmove reported asking prices having dropped in January, with the positive score for the region pushed up by some top performers. [...]
UK house prices rise unexpectedly: Stamp duty to the rescue? January 19, 2015 Are these the first signs of a bounce back in the property market? Data from Rightmove, a property portal, has shown that average asking prices have risen by 1.4 per cent in January. This may not sound like a huge leap back to the heady heights of last summer, but January is not traditionally a [...]
Savills share price surges on profit outlook upgrade thanks to Stamp Duty changes January 15, 2015 Estate agent Savills has upgraded its profit outlook for 2014 after changes to stamp duty came into effect at the end of last year, sending shares surging almost nine per cent in early trading. Revenue and profit exceeded forecasts in December after a sales boost from the rise in Stamp Duty for properties priced over [...]
London house prices to drop as surveyors see slowdown January 14, 2015 SURVEYORS are predicting a fall in London house prices in 2015, new survey data shows today. Surveyors in London are anticipating a decline in prices of two to five per cent, according to the Royal Institution of Chartered Surveyors (RICS). The price falls are expected to go along with a five to 10 per cent [...]
London house prices: Can stamp duty save the capital from a demand crisis? January 14, 2015 Demand for houses has been falling in the housing market for six months, or eight if you live in London. It doesn’t feel so long ago we were talking about booms and whispering of bubbles, but that's gone for now. The latest figures from the Royal Institute of Chartered Surveyors reveals that 10 per cent [...]