Latest News
UK Government to Close the Stamp Duty Loophole for Investors
Yesterday, on March 21st, George Osborne said that the British government is closing the loophole that allowed foreign buyers to avoid stamp duty tax by purchasing UK property using an offshore company.Property market specialists welcomed the move as they believe that the tax will not deter international buyers from the British property and yet it... Read more
Stamp Duty Holiday to Be Extended… by Bovis Homes
Bovis Homes, UK property developer, said it will extend the stamp duty holiday for its clients by another three months.Let us remind that the stamp duty holiday - time when buyers do not need to pay tax on the property they've bought - is due to end on March, 24th. After that time, all buyers of home worth 125,000-250,000 pounds will have to pay... Read more
Sales of Newly Built Properties Up by 20%
The latest report by Barratt Homes, UK property development company, suggests that the demand for new properties has risen by 20% in 2011.Company's management expects this tendency to continue into 2012.Last year, the average increase in property prices constituted 3.1%, with properties being marketed at around 181,200 pounds.The number of homes... Read more
UK House Prices Fall by 1.3% - Land Registry
The latest figures published yesterday, on Monday January 31st by the Land Registry suggest that house prices in the UK have fallen by 1.3% in 2011.In December 2011 an average property is the UK was priced at 160,400 pounds (unchanged from November 2011) and yet lower than in 2010.The report also revealed that they only city in Great Britain to... Read more
London Prime Property Prices Rise by 12.6% in November
According to the latest report by one of the British real estate companies, the increase of prices on prime property in London hit its 14-month high in November.House prices on properties worth over 3 million pounds grew by 12.6% last month; such unprecedented price growth was last registered in September 2010, when values skyrocketed by... Read more
Axe of Stamp Duty Holiday in UK to Affect First-time Buyers Activity
The latest research performed by website Mortgage Solutions revealed that the axe of the stamp duty holiday for properties worth up to 250,000 pounds will have negative consequences for the British housing market.In particular, it will damage the property market for first-time buyers. These opinions are shared by as many as 37% of mortgage brokers... Read more
UK Prime Property Sales Hit 4-year High
Lloyds TSB research found out that sales of 1-million pound properties in the UK hit its 4-year high.According to the latest figures revealed by Lloyds TSB, the number of 1-million pounds' houses sold in the first six months of 2011 was the highest in the past 4 years.It stood at 3,375 or 19 houses a day, which compares to 3,075 last year and... Read more
Halifax Publishes New Stamp Duty Report
A recent research carried out by Halifax showed that a 140% increase in UK house prices registered in the past decade resulted in a 500% rise in the number of homeowners qualifying for the stamp duty tax.For example, in 2010 the proportion of homeowners whose properties were valued at £250,000 reached 26%. In 2000, this figure only stood at... Read more
Stamp Duty Tax in UK Should Be Removed – OECD
The Organisation for Economic Co-operation and Development recently published its annual Housing the Economy report, in which it criticised the stamp duty tax.This tax adds not less than £7,500 to the price homebuyers need to pay when purchasing a property that costs £250,000 or more. This sum is believed to be too big for UK... Read more
UK Stamp Duty Rises by 2.3% in 12 Months
Everest - a company with 50-year expertise in home improvement services and products - recently analysed the data by UK Treasury for the 12 months to March 2010 and found out that the amount of money Brits pay in stamp duty increased.The average sum paid in stamp duty tax reached £3,770, which is 2.3% or £83.87 more than at the same... Read more