The Market
Chancellor cuts VAT on energy-efficient home improvements; commits to reducing Income Tax in 2024
Energy-efficient home improvements - such as solar panels, heat pumps and insulation - will face no VAT for the next five years.
House price inflation eases to +9.6% – UK HPI
The official UK House Price Index tells us that average property prices increased over the year to January; in England to £292,000 (9.4%), in Wales to £206,000 (13.9%), in Scotland to £183,000 (10.
60% of sales going to best & finals in parts of London as competition hits ‘fever pitch’
83% of Savills agents have seen an increase in competitive bidding in recent months
Property transactions drop by a fifth
Around 21% fewer residential property transactions were recorded by HMRC in February 2022 compared to the same month in 2021.
Stamp Duty revenue surges to a record high
£16.9bn was paid in property taxes from April 2021 to February 2022; £6.1bn more than in the same period a year earlier, despite the Stamp Duty holiday.
London property is over-valued by ‘as much as 50%’, warns ratings agency
Analysts predict a property market "correction" in and around the capital, as house prices detach from incomes.
Chancellor Sunak preps for Spring Statement
Rishi Sunak is due to present a "mini Budget" shortly after midday on 23rd March.
Over 50,000 property sales have fallen-through already this year
A "ridiculous" number of property sales are collapsing, says proptech firm Gazeal; more upfront information might help...
Monday Market Review: Keys figures & findings from the last seven days
Catch up on all the latest market movements in less than five minutes, featuring analysis by Rightmove, Jackson-Stops, Knight Frank, Propertymark and LonRes
‘Best ever spring sellers’ market’ as asking prices hit another record high
Rightmove has recorded the biggest March jump in average asking prices since 2004 - but the portal's top analyst warns "there are headwinds that seem likely to remove the current market froth in the second…
Property transactions leap by 28% in a typical March
The traditional Spring market bounce sees property transaction numbers jump by an average of 28% in March, according to new analysis by Jackson-Stops.
‘Clock is ticking’ for buyers & sellers as normality beckons
Eyebrow-raising house price growth may be coming to an end, says Knight Frank