Property Investors Weekly News: 16/11/2020
Good evening from the Sourcesome Team! We hope that you have had a great weekend and that lockdown is treating you well. This week we have pulled together the hottest property news articles. It’s now time to strap in, turn off the tv and get ready for some property updates:
Lockdown fails to dent housing market growth expectations: RICS
The housing market continued to grow in October with reports of high figures on buyer enquiries, agreed sales and new instructions and prices, according to the latest Rics residential market survey.
In October there was still a chance to make the most of the Stamp Duty holiday so it could be interesting to see figures from this month. Watch this space!
Stamp duty deadline continues to fuel selling rush through lockdown
Newly released data from Rightmove has revealed that national sales agreed are up 50% on October last year. According to the most recent research, the price of property coming to market this month has dipped by 0.5%. New sellers appear to be pricing more keenly in order to get a quick sale and beating the March stamp duty deadline.
Chancellor urged not to introduce tax hike
The chancellor, Rishi Sunak has been urged not to introduce a capital gains tax increase after a suggestion that a doubling of rates and a reduction in exemptions come raise around £14bn.
By doing this it would have a detrimental effect on the economy. A major think tank have warned the Treasury against potentially damaging the economy by increasing CGT.
That’s it for our weekly property news, we hope you have a super productive week!