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written by Independent Chartered Surveyors of the
Local Verified Independent Chartered Surveyors covering England & Wales.
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The Property Market Survey Fact File – April 2010
The monthly property market fact file from the Propertysurveying.co.uk team collating survey data from the building and property market.
The monthly property market fact file is a series of data collated by Chartered Surveyors of the propertysurveying.co.uk network. This will help those with an interest in the property market to gain an accurate view in one place, of what is happening in the property market as a whole in the UK.
Election Comment – Legal Change to Property Sales Procedures.
The election has been called and some uncertainty for the economy and the property market may soon be over. We will know which collection of politicians forms the next government after May 6th. How will their individual policies affect the property market? A detailed analysis of the parties’ manifestos for the forthcoming general election will be posted in the Article Archive shortly. Confidence in house prices, property sales volumes, property valuations, building surveys and the legal changes proposed could all be affected by the election outcome.
Will the legal property process change within weeks of the general election ? We already know that the Conservatives intend to change property law “in a matter of weeks”, if they win on May 6th. To read more, click here.
The Chancellor’s last budget before the election has indicated that the Finance Bill will affect few areas of the property market.
The property headline grabber is that First Time Buyers will be relieved of paying stamp duty at levels up to £250,000.
As the Stamp Duty Land Tax is based on the whole purchase price, no advantage has therefore been offered to the majority of persons looking at moving or buying a property. Only first time buyers in a few locations where first-time purchases are typically between £125,000 and £250,000, will benefit.
Stamp Duty Land Tax is payable on purchases of property including houses, flats, other buildings and land.
If the purchase price is £125,000 or less (effective 23 March 2006), no Stamp Duty Land Tax is payable.
If it’s more than £125,000, you pay between 1 and 5 per cent of the whole purchase price, on a sliding scale.
A first time buyer will be exempt up to £250,000. To read more, click here.
House prices fell for the first time in 10 months due to the bad winter and the end of the stamp duty holiday.
The Nationwide warned that the “mini-boom” could be over as house prices fell for the first time in 10 months.
The average price dropped by 1% in February, this is the first fall in house prices since April 2009. To read more, click here.
Official figures have recently revealed that home ownership has dropped to its lowest level for nearly 20 years.
Recent research shows that, with present market conditions, the young may never be able to afford to buy their own home. To read more, click here.
The biggest source of heat loss in the home (up to 25%) is through the roof, so begin by making sure the loft is properly insulated.
This is a very cost effective DIY job that can be completed in a couple of hours. To find out more, click here.
Did you know that drinking water from copper pipes could cause people over 50 to develop Alzheimer’s, heart disease and other age related conditions? This is according to a recent study. To read more, click here
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