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Scrap stamp duty on sub-£500k homes say MPs

Stamp duty is "inefficient" and should be abolished for all homes under £500,000, say a group of Conservative MPs. An estimated 94 per cent of homes sold in England are eligible for the tax on property buyers, but when stamp duty was first introduced it affected far fewer people as property prices were much lower. However runaway property price growth over ...

19th Nov 2013

Top schools attract huge property price premium

Top independent primary schools attract a property price premium of up to 170 per cent, according to a new study. The popularity of good schools is no surprise, although the sheer escalation in value shows just how much importance parents place on education when choosing a home. Justin Marking, of estate agent Savills, said that competition is "huge" to get into ...

18th Nov 2013

General news archive

No risk of housing market overheating claims Carney

The housing market is not at risk of overheating, says the new Bank of England governor. Mark Carney, who assumed office in July, has overseen something of a turnaround in both the property sector and wider economy. However with house prices being back on an upward curve some commentators have warned that the UK could slide back into recession, drawing parallels with the ...

14th Nov 2013

Golf courses take up twice as much space as housing

More land is used for golf courses than housing in the UK, despite the popular perception that the country is over-developed. A blogger from Inside Housing, Colin Wiles, calculated that roughly two per cent of the country is taken up by golf courses. In comparison 10 per cent is considered urban, with much of that space covered by gardens, parks and lakes. The UK National ...

13th Nov 2013

Highest quarterly mortgage lending stats since 2007

Mortgage lending is at its highest level since 2007, according to the latest data from the industry. Despite the usual September downturn, lenders still advanced their highest quarterly total to borrowers for six years. Paul Smee, director general of the Council of Mortgage Lenders, called the seasonal fall "expected", but praised the year-on-year improvement in ...

12th Nov 2013

Buy-to-let indicates market is healthy

Healthy buy-to-let yields are evidence that the market is not heading towards a housing bubble, according to property investment experts. The metric, which shows average yields at between seven and eight per cent, suggests that properties have significant potential for price growth. “Yields can be used to assess the health of the property market, indicating whether a ...

4th Nov 2013

Transaction boom forecast for 2014

A boom in transactions is imminent, according to the first major property market forecast for the year 2014 and onwards. Hamptons International say that housing market activity will enjoy double digit growth in the next three years, with transactions back above 1m by 2016. Prior to the financial recession transactions were running at 1.2m per year. The forecast focuses on ...

1st Nov 2013

Home insurers struggle with St Jude storm aftermath

Home insurance claims could be up as much as eightfold in the aftermath of the St Jude's Day storm which battered Britain on Sunday night and Monday morning. That's the estimate of insurer LV, who say they received eight times more calls on Monday than they would usually expect. The financial repercussions for the country's insurers could be as high as ...

30th Oct 2013

London council home sells at auction for £2.96m

The UK's most expensive council home has sold for £2.96m, after fierce bidding at a property auction. The property was valued at £2.3m by Southwark Council, but this was quickly dwarfed as the unique opportunity to buy a 200-year-old Grade II-listed building in the heart of London proved too tempting for house hunters. Located close to Borough ...

29th Oct 2013

London council home sells for £2.96m

The UK's most expensive council home has sold for £2.96m, after fierce bidding at a property auction. The property was valued at £2.3m by Southwark Council, but this was quickly dwarfed as the unique opportunity to buy a 200-year-old Grade II-listed building in the heart of London proved too tempting for house hunters. Located close to Borough Market in ...

29th Oct 2013

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