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In this month’s edition … we look at the law concerning the application of Capital Gains Tax on DIY builds, discuss the number of sub-standard bridges in the UK, and discover how living in a more opulent home won’t necessarily make us happier.
The property market fact file is a collection of data compiled each month by our Chartered Surveyors and the propertysurveying.co.uk team; collating survey data, statistics, trends and information from the property market. This aims to provide a single place where anyone with an interest in UK property can find the information they need.
In McHugh v HMRC , the appellants successfully argued the application of Capital Gains Tax on a DIY build that took over two years, together with the perceived value of the chattels sold with the property.
The horrific Genoa Bridge collapse in Italy has brought its maintenance regime into question but a survey of the UK’s bridges has found 3,441 to be sub-standard – a whopping 28% more than was estimated just one year ago.
Estate agents have 62% fewer properties on their books than a decade ago. While we have some sympathy, one struggling estate agent has gone to extraordinary lengths to bring business to his door.
After another year of exceptionally dry weather, the efficiency of the UK’s domestic water supply and the companies that provide it have come to the attention of consumers and the industry alike.
The number of housing transactions in London may have declined, but the mortgage business has been kept on its toes with 17% more business from renegotiated mortgage ‘deals’.
All local authorities have a duty to provide pitches for travellers across England, as part of a package of measures aimed at dealing with unauthorised travellers and abuses in the planning system. Despite this, few have committed land to travellers or benefited from the dedicated funds available to do so, preferring instead to spend their money on cleaning up after unauthorised camp sites.
The Federation of Master Builders has said the planning system is too ‘complex, difficult and costly to navigate’. A decade after the financial crisis, house building is at an all time low.
BOMAD is still in the news, and in danger of running out of money. At a time when most parents will be looking forward to squirrelling a few quid away for their retirement, getting good advice is more than essential than ever before.
“I’d rather cry in a Ferrari!” I hear you say? But does living in a more impressive home make you happier?
There is a perceived shortage of living space nationwide, but is there any evidence that living in a more spacious and impressive home will actually make you happier? We weigh up the cost of additional debt, working more hours or years, or a longer commute against accepting that ‘normal’ may simply have changed.
And finally …
We’ve seen Thai houses on stilts, an ‘amphibious’ house on the Thames that will rise with flood water, boutique hotels on barges, Amsterdam’s floating Ijburg neighbourhood of 97 houses – so why not build a floating dairy farm in Europe’s largest port?
Written by Independent Chartered Surveyors
of the UK wide network of Property Professionals
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