Property Mole Rotating Header Image

Affordable Housing

New government strike on empty homes

Community groups will soon be able to apply for Government cash to bring empty homes back into use. Communities Minister, Andrew Stunell, has announced that community and voluntary organisations can bid for a share of a £100 million funding pot aimed at pioneering schemes that transform empty properties into affordable housing. With an estimated 700,000 [...]

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

Communities Secretary Eric Pickles has lost a court battle over his decision to scrap the last government’s regional housing targets in England

Eric Pickles housing move ‘unlawful’

Communities Secretary Eric Pickles
Eric Pickles said he wanted to return power to local authorities

Communities Secretary Eric Pickles has lost a court battle over his decision to scrap the last government’s regional housing targets in England.

The move was ruled unlawful by the High Court.

Housing developers had asked the court to block it, arguing Mr Pickles had abused his powers.

Mr Pickles had said he wanted to return planning powers to local communities. An aide said that no appeal was planned.

The ruling means that controversial plans for building thousands of new homes in each English region could be back on – but a government source said the court ruling was only a “technicality” and would not change anything.

That is because legislation will be published next month that will deal with the issue, he suggested.

‘Parliamentary democracy’

Housing developer Cala Homes (South) Ltd argued that Mr Pickles was wrongly seeking to revoke regional planning strategies through discretionary powers.

Mr Justice Sales, sitting in London, ruled that the Cala Homes argument was “well founded”.

“What today’s judgement identifies is that he (Mr Pickles) wasn’t entitled to make the decision in the way that he did”  Ian Ginbey Cala Homes’ lawyer

The developer argued primary legislation should have been introduced, giving MPs the opportunity to debate an issue crucial to future planning in England.

It claimed Mr Pickles’s decision “struck at the heart of parliamentary democracy”.

The government argued that regional strategies were made by regional assemblies, an undemocratic tier of regional government, and this undermined directly elected local authorities.

Ian Ginbey from Cala Homes’ lawyers, Macfarlanes, said the legal challenge to Mr Pickles’s decision “wasn’t an attack on localism at all”.

But he said scrapping the targets without anything to replace them had “left a policy vacuum, caused confusion throughout the industry and directly resulted in proposals for tens of thousands of new homes being abandoned”.

He conceded that the High Court ruling might only succeed in delaying the scrapping of the targets until next autumn, when planned new legislation is likely to come into effect.

‘Embarrassing questions’

But he said it could mean that many housing developments rejected on appeal since the targets were scrapped in July could now be back on the cards.

“What today’s judgement identifies is that he (Mr Pickles) wasn’t entitled to make the decision in the way that he did,” Mr Ginbey told BBC News.

“We will work with local communities to build more homes”  Bob Neill, Local Government Minister

David Orr, chief executive of the National Housing Federation, which represents housing associations, said the decision to get rid of the targets was “a hasty and damaging move, which has already seen plans for over 180,000 homes scrapped”.

Shadow communities secretary Caroline Flint said the court ruling “raises embarrassing questions about the way Eric Pickles ripped up plans for desperately needed new homes”.

She added: “The coalition’s housing policies are doing little to meet the aspirations of the hundreds of thousands of families who want to live in a decent home.”

The court’s decsion was welcomed by the Home Builders’ Federation which said it would help local authorities plan new housing developments using the old targets while a new “locally-based” planning system is put in place over the next two years.

But junior communities minister Bob Neill said it “changes very little”.

“Later this month we will be introducing the Localism Bill to Parliament, which will sweep away the controversial regional strategies.

“Top-down targets don’t build homes – they’ve led to the lowest peacetime house-building rates since 1924.

“The government remains firmly resolved to scrap this layer of confusing red tape.

“Instead, we will work with local communities to build more homes. This was a commitment made in the Coalition Agreement and in the general election manifestos of both coalition parties. We intend to deliver on it.”

The court heard Mr Pickles decided in July to revoke the regional strategies, which include house-building targets, introduced under the 2009 Local Democracy, Economic Development and Construction Act.

James Eadie QC, who represented the Communities Secretary, argued in court that Mr Pickles had power to revoke the entire regional strategy tier of planning policy guidance and was entitled to do so as it was not operating in the public interest.

Mr Pickles has been at the forefront of the government’s efforts to decentralise power – and has fought a series of high-profile battles with quango and council bosses over alleged extravagance with public money.

Link to original BBC article

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

Help is still at hand for Stamford Homes first time buyers

ALTHOUGH the past few months have seen a return to the UK housing market by first time buyers, research still suggests that more than a quarter believe it will take them five years to raise a deposit.

A recent study of more than 3,000 potential first time buyers reveals that 28 per cent feel they will need to save for at least five years before finally getting the keys to their own home.

One in 10 respondents have been saving for more than five years and still do not have enough deposit, while 30 per cent have no savings to put towards a deposit at all.

However, there is still help at hand, with new homes builder Stamford Homes offering its own incentives as well as Government shared equity schemes to get first time buyers onto the housing ladder.

These include;
Easystart where customers can own 100 per cent of a brand-new home for 80 per cent of the price with just five per deposit required.

HomeBuy Direct a Government home purchase scheme to help first time buyers onto the property ladder where you own 100 per cent of your home for just 70 per cent of the price, and just five per cent deposit required. This offer was to come to an end in March 2010 but has now been extended until September 2010 and has limited availability.

Stamp duty exemption on homes under £175,000. However, the Government’s exemption holiday ends on December 31.
Stamford Homes regional sales and marketing director Peter Bond said: “While the statistics by themselves do make fairly depressing reading, it is still encouraging that so many people are thinking about buying a home.

“There is evidence that many of our first time buyers have been able to afford their dream home through one of our many incentives schemes available across our developments.

“We recognise that raising a deposit does have its difficulties, but there are other scheme which can take away that pressure of the house buying process.”

For details of new homes around the region, visit www.stamford-homes.co.uk

- ENDS -

Notes to the Editor:
Stamford Homes operates throughout the East Midlands and Lincolnshire and forms a part of Galliford Try’s Housebuilding Division: Galliford Try Homes.
www.stamford-homes.co.uk

Galliford Try Homes operates through four strong regional brands: Linden Homes, Stamford Homes, Midas Homes, and Gerald Wood Homes specialising in brownfield development. The business is capable of developing over 3,000 homes per year, covering the entire region from the West Country to Lincolnshire and the South-East.
www.gallifordtryhomes.co.uk

For further information please contact:

Cetti Long
Media Matters PR
Stamford Homes
Tel: 01733 371363.
E-mail: cetti@mediamatters-pr.co.uk

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

Don’t let the cost of Christmas put you off buying a new home

IT’S not only the tingling of jingle bells many of us hear over the festive season – but the ringing of the tills as we spend our way through the festive season and well into the January sales!

However, for potential buyers who are putting off moving until after Christmas, buying a brand new dream home is now easier, and less expensive, than you think.

Stamford Homes can help curb the cost of moving to many of its developments in and around the region – with savings and incentives to help customers make their money travel further.

Among the most popular are Stamford Homes’ own EasyStart scheme, and the Government’s shared equity HomeBuy Direct incentive.

Both of these are currently available on selected homes across the Midlands’ developments. However, as the HomeBuy Direct initiative – which has already helped numbers Stamford Homes customers to afford their dream home – comes to and end next September but has limited availability, so now is the time to act.

These include;
- Easystart where customers can own 100 per cent of a brand-new home for 80 per cent of the price with just five per deposit required.

- HomeBuy Direct a Government home purchase scheme to help first time buyers onto the property ladder where you own 100 per cent of your home for just 70 per cent of the price, and just five per cent deposit required. This offer has limited availability.

Stamford Homes regional sales and marketing director Peter Bond said: “The housing market doesn’t seem to be following tradition of late – whereby all goes quite at the start of December until the New Year.

“We are experiencing high levels of interest and sustained reservations as serious buyers who recognise just what amazing incentives are on offer to help them move efficiently and cost-effectively.”

For details of new homes around the region, visit www.stamford-homes.co.uk

Pic cap
There is still time to put a Stamford home on your Christmas wish list.

- ENDS -

Notes to the Editor:
Stamford Homes operates throughout the East Midlands and Lincolnshire and forms a part of Galliford Try’s Housebuilding Division: Galliford Try Homes.
www.stamford-homes.co.uk

Galliford Try Homes operates through four strong regional brands: Linden Homes, Stamford Homes, Midas Homes, and Gerald Wood Homes specialising in brownfield development. The business is capable of developing over 3,000 homes per year, covering the entire region from the West Country to Lincolnshire and the South-East.
www.gallifordtryhomes.co.uk

For further information please contact:

Cetti Long
Media Matters PR
Stamford Homes
Tel: 01733 371363.
E-mail: cetti@mediamatters-pr.co.uk

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

Stamford Homes – the benefits of buying new when home-hunting in Lincolnshire

When it comes to moving or buying a first home, many people are faced with the dilemma of old versus new.

A serious debate is which one will give them the best value for money – a new or second-hand home?

Re-decorating, installing a new bathroom or kitchen and laying new carpets are just some of the DIY jobs many of us plan when we move into a ‘used’ home.

However, buying a new home can cut down the cost and also put customers in the driving seat when it comes to those finishing touches – and save them a small fortune in domestic repairs.

And there is no better place to buy a brand new home that in rural Lincolnshire, particularly in the market towns of Wragby and Horncastle – where prices for a three-bedroom terraced home start from just £149,995.

Now is a great time to buy a brand new dream home at these locations.

As well as prices being at their most affordable for years, customers can benefit from the last throes of the Stamp Duty exemption holiday on homes below £175,000 and many Stamford Homes money-saving incentives to help existing home owners and first time buyers.

New homes also offer fantastic value in terms of energy efficiency, security and design – both internal and external. They are a blank canvas allowing customers to stamp their own mark and personality on what is the most important purchase of their life.

Other benefits include:

- Less maintenance – old homes may have more character but they may also need more costly things doing to them, which could see the owner paying out for items such like new guttering, replacement windows or extra roof insulation.

- Energy efficiency. New homes are well insulated, and include double-glazing as standard, making them cheaper to run than older homes. All new homes are fitted with a water meter. Studies show that new homes, on average, are four times more energy efficient that older homes, so producing lower energy bills.

- A blank canvas – depending on build stage of the new home, you have an option of choosing kitchen units, worktops and wall tiles – you can even pick your own carpets with certain incentives!

- All of Stamford homes’ new homes come with an insurance-backed 10-year warranty from the National House Building Council, giving new owners real peace of mind. That’s something else you simply can’t get when buying second-hand.

Stamford Homes regional sales and marketing director Peter Bond said: “In today’s market place, with so many incentives available, the argument for buying new as opposed to old has never been greater. We have some amazing homes and incentives at our Lincolnshire developments – with reservations now being taken well into next year.”

For details on prices and availability at the Bell’s Yard development in Horncastle and Carpenter’s Lodge in Wragby, visit www.stamford-homes.co.uk

Pic cap
The benefits of buying a brand new home are endless – and there are plenty to choose from with Stamford Homes in Horncastle and Wragby.

- ENDS -

Notes to the Editor:
Stamford Homes operates throughout the East Midlands and Lincolnshire and forms a part of Galliford Try’s Housebuilding Division: Galliford Try Homes.
www.stamford-homes.co.uk

Galliford Try Homes operates through four strong regional brands: Linden Homes, Stamford Homes, Midas Homes, and Gerald Wood Homes specialising in brownfield development. The business is capable of developing over 3,000 homes per year, covering the entire region from the West Country to Lincolnshire and the South-East.
www.gallifordtryhomes.co.uk

For further information please contact:

Cetti Long
Media Matters PR
Stamford Homes
Tel: 01733 371363.
E-mail: cetti@mediamatters-pr.co.uk

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

“What House?” Award won by Stewart Milne Homes

Stewart Milne Homes has achieved a national What House? Best Interior Layout award for its collection of townhouses at Greenwood Manor in Newton Mearns.

stewart-milne

The housebuilder picked up the award on Friday 20 November, surpassing a host of UK-wide competitors.

John Slater, Stewart Milne Homes, group managing director, said:

“Winning this award is a great coup for Stewart Milne Homes. The collection of townhouses at Greenwood Manor is a real showpiece for the company, illustrating our excellence in building the highest quality, stylish product that is designed to meet the needs of the modern buyer.

“The award for Best Interior Layout recognises the level of innovation and flair demonstrated in these designs and rewards the expert combination of imagination and practicality offered by each home, particularly our approach to space and flexibility.”

The What House? Awards are considered to be the Oscars of the housebuilding industry and showcase some of the UK’s most exciting and dynamic new developers as well as highlighting the innovations of the industry’s major players. This year’s awards mark an even greater achievement for house builders who have successfully sustained quality of product despite the economic downturn.

John Slater continues: “Despite these challenging times, we have remained committed to delivering the same quality products and service that our reputation has been built on. This national award for Greenwood Manor is a superb recognition of this, especially as we continue the company’s drive into England.“

The award-winning townhouses at Greenwood Manor bring a whole new class of property to the newbuild market. Interior layouts combine traditional design features with key elements of modern living to offer practicality with style. Spread over three floors, each layout makes the very most of the space, whilst maximising light and offering flexibility. Designed to make an impression, key property features include grand entrance halls with oak staircase, exceptionally large living rooms with twin sets of windows providing elevated views of the garden, and spacious open-plan breakfasting kitchens. Additional spaces include an entrance vestibule, separate dining room, utility room, allocated storage and integral garage.

The townhouses also incorporate exclusive attributes such as a top floor master suite with private balcony, walk in closet, and luxurious ensuite. Combined with a ‘platinum’ specification and highest quality finish, these homes are effortlessly set apart in the newbuild marketplace.

Greenwood Manor four bedroom townhouses are priced from £425,000. For further details, contact the showhomes and marketing suite on 0141 639 9990, open Thursday to Monday from 10.30am until 5.30pm. Alternatively, visit http://www.stewartmilnehomes.com

Press Release Contact Details:

Debbie Standen CM Porter Novelli 45 Hanover Street Edinburgh EH2 2PJ 01314703400

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

Stamp Duty – Change demanded by property experts

Industry heavyweights have added their support to the 1808 Coalition, set up by the National Association of Estate Agents (NAEA) and the Association of Residential Lettings Agents (ARLA) to campaign for the Government to modernise Stamp Duty.

1808 Coalition partners are:

• Association of Mortgage Intermediaries (AMI)

• Association of Residential Lettings Agents (ARLA)

• Building Societies Association (BSA)

• Council of Mortgage Lenders (CML)

• Home Builders Federation (HBF)

• National Association of Estate Agents (NAEA)

• National Landlords Association (NLA)

Peter Bolton-King, Chief Executive of the NAEA, said: “The Coalition believes that Stamp Duty is an anachronistic tax which, in its current form, is preventing a recovery in the housing sector – it limits market flexibility, creates regional inequality and its slab structure unfairly distorts the housing market. With the Pre Budget Report due soon, now is the time for the Government to take action.”

The current Stamp Duty “holiday” for properties lower than £175.000 is due to expire at the start of 2010 but in a recent survey by the NAEA, 91 per cent of estate agents surveyed felt that it should be extended. 86 per cent of those surveyed felt that the tax is unfair.

Ian Potter, Operations Manager of ARLA said: “Not only does Stamp Duty prevent those aspiring to own a home from doing so, it also impacts the whole property chain. For ARLA members, this means having to pay Stamp Duty on the bulk price of a portfolio, when individual buy-to-let investors pay a lower rate on the single unit price.”

Robert Sinclair, Director of the AMI, said: “It is rare that the breadth of our industry comes together with such consensus on an issue. But the current Stamp Duty regime is distorting the market to such an extent that we feel compelled to speak out. The Association of Mortgage Intermediaries is fully committed to supporting this industry campaign to reform the regime. We implore the Government to not only listen but, to act in support of our request for change to this damaging tax.”

John Stewart, HBF’s Director of Economic Affairs, said: “It is imperative that the first signs of market stabilisation that have emerged in recent months, and which have allowed home builders to begin tentatively opening new sites and expanding output and employment, are nurtured. The Government’s stimulus measures for housing, including the raised stamp duty threshold, have played a significant part in this stabilisation and it is vital that they are not removed at this still fragile stage, either in total or in part.”

Adrian Coles, Director General, BSA, said: “The current Stamp Duty system in the UK is archaic and in desperate need of reform and modernisation. A fairer and transparent system is needed that doesn’t discriminate against young and first time home buyers, and promotes an effective housing market.”

Michael Coogan, Director General, CML, said: “We urge the government to announce a comprehensive and long-overdue review of Stamp Duty. Reform is needed of a tax that distorts the housing market.”

David Salusbury, Chairman, NLA, said: “Stamp Duty Land Tax is a pernicious tax which has failed to keep pace with house price appreciation. It creates an unbalanced housing market and discourages investment in housing. Reform is needed now.”

Anyone wishing to register comments on the campaign, or on Stamp Duty, should visit: http://www.nfopp.co.uk/1808

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

‘Rent-a-room’ demand increases – National Landlords Association (NLA)

The National Landlords Association (NLA), the leading representative body for private-residential landlords in the UK, is calling for the ‘Rent-a-Room’ scheme threshold to be increased for the first time under the current Government.

Rental income from lodgers is exempt from income tax up to a threshold of £4,250. This threshold has not changed since 1997/98, even though rents in most parts of the country have more than doubled.* ‘Rent-a-Room’ was originally set up to encourage people to rent out spare rooms, but given the significant rent increases over the past 12 years the value of the benefit has dwindled.

Sixty per cent of rooms in the UK are rented for more than £4,250 per year.  In London this figure rises to 91 per cent. Even more startlingly, 78 per cent of UK homeowners could cover the average mortgage arrears by renting out a spare room.*

The NLA is supporting the ‘Raise the Roof’ Campaign which is lobbying for a tax-free threshold increase to £9,000 per year. Not only could the increase help to prevent repossessions but it could add much needed affordable housing stock.

David Salusbury, Chairman, NLA, said:

“There is no way of telling just how many potential ‘live-in’ landlords are not letting out their spare rooms because of the hassle-factor of having to complete a self-assessment tax form. Today we are sending a clear message to the Chancellor: a fair deal for those looking to rent a room by increasing the tax-free threshold will help homeowners and the economy. It is a win-win situation that helps both parties and it is about time the exemption reflected the increase in market rents.”

* Data on residential landlords by www.spareroom.co.uk (Matt Hutchinson, 0845 644 4029)

All media enquiries to:
Steven Hilton
Media Relations Manager, NLA
Email: steven.hilton@landlords.org.uk
Tel: 020 7840 8906
Mob: 07508 031 084

Notes to Editors:
The National Landlords Association (NLA) exists to protect and promote the interests of private residential landlords. With over 18,000 individual landlords from around the United Kingdom and over 90 local authority associates, it provides a comprehensive range of benefits and services to its members and strives to raise standards in rented accommodation. The NLA seeks to safeguard landlords’ legitimate interests by making their collective voice heard by local and central government and the media. The NLA seeks a fair legislative and regulatory environment for the private-rented sector while aiming to ensure that landlords are aware of their statutory rights and responsibilities towards their tenants.

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

Stamp Duty return could have detrimental effect on regional housing market recovery – RICS

A return to the previous bands for stamp duty, when the current holiday is due to end on the 31st December 2009, could have a detrimental effect on the recovery of the housing market in regions that are already lagging behind, according to the latest research from RICS.

More surveyors in the West and East Midlands, Wales and Scotland believe that they will see a drop in activity in 2010 following the end of the stamp duty holiday for properties priced between £125k and £175k at the end of the year. Tellingly more surveyors in Wales and the East Midlands were still seeing price falls rather than rises in the last housing market survey. Meanwhile in the West Midlands, only 3 percent more surveyors saw prices rising in October.

Overall, however, the majority of Chartered Surveyors are not expecting the end of the stamp duty holiday to have a distorting effect on the housing market despite the benefit it has provided first-time buyers. Unsurprisingly it is those working in London and the South East who overwhelmingly agree that it is not forcing more houses onto the market now, and will not lead to a drop in activity once the old system is re-introduced. However, this is more a reflection on the fact that the holiday has had limited impact in these regions as the average house price is well above that of the stamp duty threshold.

Similarly in the North, where the average price is well below the threshold at £116,051, there is less concern about the impact of the end of the stamp duty holiday. However the regions that are most concerned about the impact are those whose average prices sit well within the margins that are directly affected by the holiday. These are the East Midlands (£133,973), the West Midlands (£142,969), Wales (£134,690) and Scotland (£140,175).

At the time of its introduction, we did question how great an impact this policy would have and judging by the fact that only surveyors in certain parts of the country are particularly concerned about the ending of the holiday, it could be said that some areas of the UK hardly even noticed the change.

“However the additional transaction cost is still a worry to many, particularly first-time buyers, and is a threat to the market  in the areas of the country that are still seeing a weak price environment. A return to the status quo will be of benefit to no one, and as such RICS believes that rather than simply reverting back to the old structure for Stamp Duty, the imminent change provides an opportunity for the Government to introduce a wholesale restructuring of the tax. Specifically RICS favours moving from the current slab structure to a marginal system with no homebuyer paying anything on the first £150,000 of their new home.”

Simon Rubinsohn, RICS chief economist

The additional questions asked in the RICS October Housing market Survey were:

  1. Is the planned ending of the Stamp Duty holiday on properties priced between £125K and £175K contributing to the higher level of activity in the housing market?
  2. Do you expect this decision to lead to a drop in activity in the early part of 2010?

Further reading:
RICS has suggested the referenced change to Stamp Duty Land Tax as part of its Pre-Budget Report submission to the Treasury. The full submission is available at http://www.rics.org/externalaffairs

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Propeller
  • Reddit
  • Slashdot
  • Yahoo! Buzz
  • blogmarks
  • FriendFeed
  • LinkedIn
  • MSN Reporter
  • MyShare
  • MySpace
  • Netvibes
  • RSS
  • StumbleUpon
  • Technorati
  • Twitter
  • Add to favorites
  • Blogosphere
  • Google Buzz

Switch to our mobile site