Category: property market news

Stamp Duty stumble

Income to the Treasury from Stamp Duty Land Tax (SDLT) receipts fell by 7.5%, the equivalent of £1 billion in the financial year to the end of March 2019.

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Affordability ratio

The affordability ratio for England and Wales hit another peak at 7.83 in 2018. This means that the median property price in England and Wales is now 7.83 times more than gross average annual earnings, according to new data from the Office for National Statistics (ONS).

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Turn the heating down

6 out of 10 people across the UK support the drive to cut emissions to almost zero by 2050, according to a recent poll reported by the Independent. To reach net zero in this timeframe, millions of people will need turn their heating down to 19°C in winter, as one of many lifestyle changes according to the Committee on Climate Change.

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ONE IN TWELVE LANDLORDS UNAWARE OF LEGISLATIVE CHANGES

One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January.

Over 80% of landlords were aware of the additional 3% stamp duty burden for the purchase of a second home, with two-thirds having knowledge of the changes to mortgage tax relief and the impending tenant fee ban.

Less well known are the reduction in Capital Gains Tax for non-property investments, and knowledge of the minimum rent to mortgage cost ratio required by lenders to approve a buy-to-let mortgage.

The survey notes that legislative changes are considered the main concern for current landlords, while agents are more concerned about tenant behaviour.

If you are a Landlord, or thinking of becoming one and you too were unaware of these legislative changes, please get in touch with me and I would be more than happy to discuss these with you. Now is also the perfect time to take advantage of the current offer of three months free management we have available for new Landlords as well as existing Landlords who are bringing new managed properties on with us. The majority of our property management team are ARLA qualified and would be happy provide you with stress-free management and piece of mind for your property or portfolio. Please do not hesitate to get in touch!

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5 Top Tips For Your Kitchen

Whilst the living room is usually considered ‘the heart of any home’ in most UK households, the kitchen plays a much more central role in day-to-day family life. Follow these simple guidelines to achieve kitchen bliss!

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FIRST INCREASE IN TRANSACTIONS IN OVER A YEAR

There were 101,780 residential transactions recorded (on a seasonally adjusted basis) in February across the UK, according to the HMRC. This was the highest level since August 2017.

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Bowden Hall West

A stunning grade II listed home set in mature grounds take a look below to get a sneaky peak.

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Why Shopping Local can benefit property prices?

Over the years many reports have been done on the economic benefits on local shops. The two national retailers that have mainly been in the press about this topic is Waitrose and Costa. Reports have directly shown property prices increasing due to either one of these retailers opening in a particular area and seeing property prices increasing up to 15%. While we don’t have a Waitrose we do have a Costa, but more importantly we have a selection of great local business owners. Our local retail has grown over recent years with an array of different bars, restaurants, and shops. With some of these getting critical acclaim and attracting out of area punters. The main reason why it increases value in the area is because our village center becomes more attractive and enjoyable, creating a more desirable location. Areas need to offer more than just transport links, schools, housing stock, they need to offer a lifestyle that is easily accessible on the weekends so its residents can wind down from the stressful working week. Watch the video to find out more.

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HOME IMPROVEMENTS

April is National Home Improvements month. Property owners across the UK have spent almost £8,000 each on home improvements over the last five years, a staggering £48 billion in total, according to new research by the National Association of Estate Agent.

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