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Property Market Review December 2018

Increase in second home ownership

According to think tank, the Resolution Foundation, the number of British people who own overseas property, buy-to-let or second homes has doubled since 2001, with wealth from owning a second property having risen to almost £1tn.

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Economic Review — March 2019

Interest Rates remain on hold Inflation Rate ticks higher Markets BREXIT Deadlock UK Economy stuck in low gear Interest Rates remain on hold The Bank of England (BoE) has once again left interest rates unchanged, whilst reaffirming its belief that near-term monetary policy will remain inextricably linked to Brexit. All nine members of the Monetary…

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Property Market Review December 2018

Residential Property Review – March 2019

Average residential sales times longerTargets may not be met despite more homes being builtUncertainty continues   Average residential sales times longer Recent research from property portal, Rightmove, indicates that across the UK, the average time taken from when a property is first listed, until it is marked as under offer, has increased from 72 days…

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Spring Statement – 2019

We have huge opportunities ahead of us The Economy Employment and Wages Public spending and technology Housing Environment Other news Closing comments Forthcoming consultations, reviews and regulations Personal taxation changes announced at the Autumn 2018 Budget “We have huge opportunities ahead of us” Chancellor of the Exchequer Philip Hammond stood up in Parliament at 12.43pm…

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Economic Review — February 2019

MPs secure no-deal BREXIT veto Chancellor receives timely defecit boost Markets Employment rises to new record high UK Economy suffers slowdown   MPs secure no-deal BREXIT veto With less than four weeks until Brexit day, parliamentary gridlock means it remains unclear whether the UK will leave the EU as scheduled, or whether the Brexit process…

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Property Market Review December 2018

Residential property review – February 2019

January sees an increase in residential property listings Buy-to-Let landlords seen to exit the marketplace Prime Scottish property outperforms January sees an increase in residential property listings The start of 2019 has seen a strong revival in the number of properties being listed for sale on the market, according to an index compiled by online…

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Economic Review – January 2019

Brexit clock ticking down UK growth at six-month low Markets UK consumers rein in spending Wage rises continue to outpace inflation Brexit clock ticking down Following another month of political shenanigans, it still remains distinctly unclear whether Theresa May will be in a position to deliver an orderly Brexit on 29 March 2019. Delivering Brexit…

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Property Market Review December 2018

Residential Property Review – January 2019

Residential market activity declines In their latest ‘UK Residential Market Survey’, the Royal Institution of Chartered Surveyors have reported weaker market activity, with both supply and demand retreating into negative territory. Their data suggests this trend will continue into the first quarter of 2019. However, they also believe that a “more stable trend is expected…

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Economic Review – December 2018

What next in the BREXIT saga? Bank cuts UK growth forecast Markets Pay growth strongest for a decade Inflationary pressures ease What next in the BREXIT saga? With less than three months to the country’s scheduled EU departure, it remains unclear whether the UK will leave with an amicable deal, crash out with no deal…

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Property Market Review December 2018

Residential property review – December 2018

Government revenue from Stamp Duty falls by 10% HM Revenue and Customs (HMRC) have stated that Stamp Duty revenue from residential property sales in Q3 2018 has fallen from the £2.605bn seen in the same period of 2017, to £2.347bn in 2018, as the number of properties liable to tax fell from 302,700 to 279,500.…

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