Tag: UK housing market
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First-Time Buyers Call for Government Support to Revive UK Property Market
Industry pressure grows as UK property market cools The property market in Britain has cooled in the shadow of the forthcoming budget, prompting calls for targeted help for those trying to buy their first home. The boss of one of the country’s largest housebuilders has stepped forward with a clear message: the government should announce…
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Reeves’s UK property tax changes could reshape the housing market: what to expect
Overview: What Reeves is considering With the Labour leadership’s focus on reforming property taxation, the prospect of changes to capital gains tax (CGT) and related policies has sparked wide debate. The central idea under consideration is to broaden CGT to cover main residences, a move that would represent a major shift from current practice. If…
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How Reeves’s UK property tax changes could reshape the housing market
What the reforms could look like Prime Minister Reeves has signalled a shift in how property is taxed, with several ideas under consideration aimed at addressing wealth inequality, housing supply, and tax efficiency. The most talked-about proposal is to expand capital gains tax (CGT) to apply to gains on main residences, alongside reforms to how…
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UK House Prices Hit Record High as October Growth Outstrips Forecasts
Overview: October Defies Forecasts with a Substantial Rise UK housing markets continued to defy political headwinds and uncertainty around government policy, as Halifax reported a 0.6% month-on-month rise in house prices in October. This marked the strongest monthly increase since January, reinforcing a trend of resilient demand and tighter supply in the market. While the…
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UK House Prices Hit Record High: October Growth Surges, Halifax Reports
Overview: Prices Reach a Fresh Peak UK house prices climbed by 0.6% between September and October, according to lender Halifax, marking the strongest monthly increase since January. The uptick comes despite lingering political uncertainty surrounding the Budget and broader economic headwinds. As affordability pressures and mortgage rates evolve, the October data suggests demand remains resilient…
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UK house prices surge to record high as October growth outpaces forecasts
UK house prices hit a record high as October growth outstrips forecasts UK house prices rose at the fastest pace in several months in October, according to lender Halifax, defying ongoing political uncertainty ahead of the Budget. The lender said prices climbed by 0.6% from September to October, marking the biggest monthly increase since January.…
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Conservatives pledge Stamp Duty abolition on primary residences to boost home ownership
Conservatives promise stamp duty abolition for primary residences The Conservative Party has announced a policy to abolish stamp duty on the purchase of primary residences in England and Northern Ireland, a move designed to bolster home ownership and bolster the party’s economic credibility ahead of the next general election. The pledge would see buyers pay…
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Tories pledge to abolish stamp duty on primary residences announced by Kemi Badenoch
Executive summary In a policy-focused speech at the Conservative Party conference, housing and equality minister Kemi Badenoch laid out a bold proposal: abolish stamp duty on primary residences in England and Northern Ireland for purchases over £125,000. The pledge, part of a broader plan to boost the economy, aims to make home ownership more attainable…
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UK Ministers Move to Speed Up Homebuying by Four Weeks with New Proposals
UK ministers unveil plan to speed up homebuying by four weeks Ministers are set to overhaul the housebuying process with reforms aimed at cutting the time it takes to complete a property purchase by about four weeks. The proposals, part of a broader plan to reduce frustrating delays and ‘nasty surprises’, would shift some costs…
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Newcastle Building Society Introduces 98% Mortgage for First-Time Buyers
Introduction to the 98% Mortgage Offering In an effort to support first-time buyers in the UK real estate market, Newcastle Building Society has unveiled its innovative First Step mortgage, allowing borrowers to secure up to 98% of the property price. This ambitious initiative aims to ease the daunting burden of getting on the property ladder,…