Housesellers coming to market increased asking prices by an average 0.8% in March, according to Rightmove. The typical home is being offered for sale at £231,790, up 0.9% on a year earlier, and new listings have risen 5%, compared with March 2010. However, the volume of properties put up for sale remains 26% down on [...]
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Private rental voids cut on supply shortage
UK private rental properties are being let within 15 days on average, according to property services group, Countrywide.
The firm’s latest quarterly survey shows that the time taken to secure a tenant has fallen by five days in a year, as an average 4.4 tenants line up for each available home.
In the final three months of [...]
NAEA: Success of Stamp Duty Campaign a major victory for first time buyers
THE National Association of Estate Agents (NAEA) today welcomed as a major victory Alistair Darling’s decision to raise the threshold of stamp duty land tax for two years.
The NAEA has long campaigned for a major rethink on stamp duty – which it believes to be a tax on aspiration. Today in the final Budget before the election, Mr Darling listened and raised the threshold to £250,000 from midnight tonight.
Peter Bolton King, chief executive of the NAEA, said: “For thousands of first time buyers the dream of getting onto the property ladder was slipping out of reach.
“This announcement has added a new rung to the property ladder, one within reach of thousands of young families.
“We have long argued that stamp duty is a tax on aspiration that smothered the natural demand of the market. We still believe that more reform is needed and there is more work to be done, but this is a good first step – a major victory for first time buyers.”
The NAEA has for years called for a major reform of stamp duty land tax, beginning with the threshold being raised. Most recently in the run up to this Budget the association led a coalition of property organisations in calling for reform, under the banner of the 1808 campaign. More information on the 1808 campaign can be found at http://www.nfopp.co.uk/1808/
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