Archives for UK Property News

#PositiveCoronavirusNews as Stamp Duty is to be put on hold to help stimulate the economy…

Positive Coronavirus News Stamp duty ‘holiday’ to help rebuild economy Rishi Sunak has drawn up proposals to exempt most homebuyers from paying any stamp duty under plans to kick-start Britain’s economic recovery. The chancellor will reveal plans this week to lift the threshold at which people start paying stamp duty from £125,000 to as much as £500,000. The increase in the threshold, which is expected to be implemented in the autumn budget, is a temporary measure intended to stimulate the housing market. Mr Sunak will announce the plans on Wednesday as part of several measures to support the economy, including
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2020 Housing Affordability Report with Stats for England & Wales for 2019, from the Office for National Statistics

Housing affordability in England and Wales: 2019 Commenting on the findings, ONS Head of Housing Analysis Nigel Henretty said: “This is the first significant improvement in housing affordability in England for ten years. “While housing remained significantly more affordable in Wales than in England, the gap between the most affordable and least affordable local areas decreased for the first time in four years. This was driven mainly by decreasing house prices in the least affordable areas.” Go to the ONS release or view the full release by reading on: Release:Housing affordability in England and Wales: 2019 Contact: Nigel Henretty Release date: 19
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People, Population & Community Stats from the Office for National Statistics / ONS

Living longer: implications of housing tenure in later life Last month, we looked at how housing tenure had changed over time, with future generations of older people more likely to live in rented accommodation than they do now. Today’s article explores some of the implications this has, including Amongst private renting households containing someone aged 60 or over, fewer than half have savings or investments. This compares with over three quarters of those who own their homes outright. Not all those who own outright are well-off. While a quarter of older households that own outright had at least £50,000 in savings
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