The Market
BoE warns of negative interest rates to come
The Bank of England’s Monetary Policy Committee has told lenders to prepare for negative interest rates in six months' time.
Mapped: Million-pound home sale hotspots
London and the South East were home to the vast majority of seven-figure sales in the last year - but there are some surprises when it comes to average seven-figure sold prices...
How much old rectory do you now get for a two-bed in Chelsea?
About 25% less than a year ago, according to the West Country branch of acquisition firm Stacks - although there is still value to be found in a hidden AONB just off the A303...
London market has cooled under lockdown – Chestertons
New applicant numbers were down by nearly a quarter on last year’s levels in January, reports 31-branch agency, although deal volumes are still running high.
PCL sales & lettings market snapshot: An emerging supply/demand imbalance, and a ‘fundamental reset’
The Prime Central London lettings market has undergone a "fundamental reset" over the last year, says Knight Frank, while an emerging supply/demand imbalance is buoying sales values.
Tory MP urges abolition of Stamp Duty and Council Tax; backs calls for a proportional annual property levy
"Replacing council tax and stamp duty with a proportional property tax is the right thing to do for millions of people up and down the country," argues John Stevenson MP.
Prime London ‘buying frenzy’ cuts price discounts & sales times
Q4 saw the average prime London property price rise by 3.6%, according to Coutts bank, taking it back to roughly the level seen just before the pandemic struck the UK.
‘British house prices will flatline this year’ – Reuters
The latest Reuters poll of property market pundits predicts 0% growth for average London and UK property prices in 2021.
Half as many property sales were liable for Stamp Duty in Q4 compared to 2019
Just one third (34%) of residential transactions were liable for Stamp Duty in Q4 2020, compared to two-thirds (66%) in Q4 2019. The Stamp Duty holiday has caused a 22% year-on-year drop in tax receipts.
£1m+ home numbers rise for the first time in five years
A sharp rise in 2020 means that Britain is now home to 53% more seven-figure properties compared to a decade ago - but 7% fewer than in 2015.
Mortgage approvals hit highest annual total since 2007
103,400 house purchase mortgages were approved in the last month of 2020, taking the year's total to 818,500 - the biggest number in one year since 2007, despite approvals hitting a record monthly low…
Watch: MPs discuss extending the SDLT holiday
"A tapered relief seems to be the most popular view," summarised Elliot Colburn MP after more than hour of discussions about the merits (and some of the pitfalls) of extending the current Stamp Duty holiday.