Rishi Sunak Summer Statement: All the Chancellor’s spending pledges July 8, 2020 Chancellor Rishi Sunak today announced a raft of measures in his Summer Statement in a bid to help the UK economy recover from the worst effects of coronavirus. The Treasury boss revealed massive public spending to bolster the UK economy in what people are calling his mini-Budget. While he did not extend the government’s furlough [...]
Stamp duty holiday: Housebuilder and estate agent stocks jump July 8, 2020 Housebuilders and estate agent stocks jumped this afternoon after the chancellor announced a stamp duty holiday in a bid to get the UK property market moving. Chancellor Rishi Sunak announced that the stamp duty threshold would increase from £125,000 to £500,000 until March next year to boost activity after the coronavirus lockdown. He said it [...]
Stamp duty holiday: Chancellor confirms immediate property tax changes July 8, 2020 The chancellor has confirmed an immediate stamp duty holiday in a bid to reinvigorate the housing market after the coronavirus lockdown. Speaking in the House of Commons this afternoon, Rishi Sunak said the threshold for paying stamp duty will be raised from £125,000 to £500,000. The chancellor said the stamp duty holiday, which will run [...]
Stamp duty holiday: Top London areas for potential property tax savings July 8, 2020 Chancellor Rishi Sunak is today expected to announce a stamp duty holiday in a bid to reinvigorate the UK housing market following the coronavirus lockdown. The announcement is expected to raise the stamp duty threshold from £125,000 to £500,000, according to reports. Experts have said that buyers searching for properties in more expensive areas could [...]
Stamp duty holiday: What does it mean for the UK housing market? July 7, 2020 In a “mini-budget” spring statement tomorrow chancellor Rishi Sunak is expected to announce a range of measures to boost the economy which has been ravaged by the coronavirus crisis. As part of the package the chancellor is reportedly planning to cut stamp duty for properties worth up to £500,000 in a bid to reinvigorate the [...]
Halifax: UK house prices suffer longest fall since 2010 July 7, 2020 UK house prices fell for the fourth month in a row in June for the first time since 2010, according to Halifax data released today. Unlike rival Nationwide, which found the value of homes shrank for the first time on an annual basis in June, Halifax recorded a 2.5 per cent-year-on-year rise. But as the [...]
Markets live: Nasdaq hits record intraday high as FTSE 100 rallies on recovery hopes July 6, 2020 The FTSE 100 and US stock markets rose sharply today as investors cheered the prospect of more stimulus for the UK economy and followed the lead of Asian markets. London’s index of blue-chip companies was 1.87 per cent higher this afternoon at 6,2572.5 points. The FTSE 250 index of slightly smaller firms rose 1.27 per [...]
UK house prices fall for first time since 2012 amid coronavirus July 1, 2020 UK house prices posted an annual fall for the first time since 2012 in June amid the coronavirus pandemic, according to Nationwide’s index today. Growth turned negative last month with prices slipping 0.1 per cent year on year, following a 1.8 per cent climb in May, Nationwide said. Its data showed UK house prices also [...]
Burger chain Byron heads for administration with 1,200 jobs on the line June 29, 2020 Burger chain Byron is scrambling to find a buyer who can stave off impending financial collapse, save 1,200 jobs, and reopen its 52 restaurants in the UK by mid-next month. The company has filed a notice of intention to appoint administrators, in an attempt to protect it from creditors during talks with potential buyers. Sources [...]
DEBATE: Will a fall in house prices be good for young people? June 26, 2020 Will a fall in house prices be good for young people? Matthew Addison, chief executive at StepLadder, says YES. Given that we still aren’t building enough homes to satisfy demand as a nation, it is incredibly important for this finite supply to be allocated in a way that works equitably. This hasn’t been the experience [...]