Economics
Carrington on Q1: Sliding stamp duty receipts and a Brexit fiasco
SDLT was brought in to cool the market, but this one size-fits-all approach has neither worked for the London market nor the Treasury, says LonRes Chairman William Carrington
SDLT receipts plummeted by 26% in Q1
The Treasury's Stamp Duty tax take fell dramatically from Q4 2018 to Q1 2019, reports LCP, as Brexit amplified the seasonal transaction dip
‘We suspect house prices will rise only 1% over the year and would not be at all surprised if they stagnate’ – EY
EY's Spring ITEM Club predicts muted property price growth ahead, with a 'limited' upside even if a Brexit deal is agreed. A no deal exit could see house prices fall by 5% in 2020
Stamp duty receipts tumble by £1 billion
Latest statistics from HMRC confirm a massive fall from £12.9bn in 2017/18 to £11.9bn in 2018/19, the biggest decline seen since the financial crisis
£1m+ deals rocket despite a ‘lacklustre’ wider market
Twenty Ci reports a 66% year-on-year jump in £5m+ property transactions, while the overall number of new instructions has dwindled and property prices have fallen in most regions
At a glance: Property taxes around the world
CBRE compares how the tax treatment of property differs by country, but which is the most favourable for buyers?
Construction firms facing ‘catastrophic’ changes to insurance contracts
'Unprecedented' tightening of insurance market conditions could end up forcing some firms out of business, warns Mactavish
Labour moots centralised targets and controls for house price growth
Bank of England could set targets for property price inflation, says Shadow Housing Minister John Healey, managing the market through tougher lending restrictions.
IMF creates an ‘early warning system’ to predict the next house price crash
The International Monetary Fund's House Prices at Risk tool is designed to flag property markets at risk of significant price drops at least a year before the market turns
Rent or Buy: Does the British obsession with home ownership pay off?
Professors Colin Jones and Abdulkader Mostafa of Heriot-Watt University and Edinburgh Business School have explored the bottom-line implications of buying a home rather than renting.
ATED receipts tumble as property owners de-envelope & relief claims escalate
Westminster and Kensington & Chelsea provided nearly three-quarters (73%) of all receipts from the Annual Tax on Enveloped Dwellings in 2017-18
Prime property demand builds, but fails to translate into activity in a ‘Brexit-paced’ market
Demand is building in prime regional and prime London markets, says Savills, but prices continue to fall as uncertainty 'dictates the pace'