This week, the Budget dominated headlines and spelled some major changes for the property market. Here are nine things you might have missed…
1. Where’s the fastest place to sell a property in the UK?
The average time it takes to sell a home in the UK has been revealed to be just over three months, a slowdown on what it was a year ago.
2. Stamp duty blocks tens of thousands of property purchases each year
Research reveals up to 45,000 homebuyers are blocked by the tax. The Budget could see major changes for property ladder hopefuls.
3. Invest in a new-build to cover the cost of your daily Starbucks
Fuel costs have increased by around 36% over the past 10 years, but new data reveals you could save £629 a year if you own a new-build property.
4. Government could ban ‘gazumping’ to take stress out of homebuying
The government has created a questionnaire inviting estate agents, solicitors and mortgage lenders, as well as the general public, to share their views and experiences.
5. Controversial new website ruffling feathers of landlords and letting agents
There’s a new website offering tenants the chance to give their rental homes marks out of 10 – but some landlords are threatening legal action.
6. Northern Powerhouse sees huge investment – but what about Yorkshire?
In the Budget, Phillip Hammond set out the government’s plan to invest more in the north of England, although Yorkshire may miss out on much of the funding.
7. ‘Buy-to-leave’ landlords to be targeted with new council tax premium
With an estimated 200,000 empty homes across the country, worth around £43bn, Phillip Hammond has handed local authorities more power to tackle the issue.
8. China cracks down on property market speculation
In a recent bid to end speculation in its property market, China is gearing up to increase its financial regulation and stabilise the market.
9. Build-to-rent sector gets the green light in Autumn Budget
The £8bn investment promised for private housebuilding and build-to-rent homes demonstrates the importance of the emerging sector.
