UK finance has reported that mortgages to first time buyers were up 5.8% in July compared to July 2018. Overall mortgages mortgages completed in July were up 1.4% on the same month in 2018.
We had a very strong summer at Aldreds and it is interesting that the national statistics and figures back this up.
As we move in to the Autumn there is still time to get moved by Christmas! Get in touch with your local Aldreds office today!
After hinting that the responsibility for stamp duty may switch from buyers to seller it appears that the chancellor has quashed this suggestion.
In a tweet he said “More speculation about stamp duty this morning. To be clear, I never said to The Times I was planning to put it on sellers, and I wouldn’t support that. I know from the Ministry of Housing, Communities and Local Government that we need bold measures on housing - but this isn’t one of them.”.
Watch this space for more stamp duty updates, however, it now seems unlikely there will be much (if anything) changing this side of the budget.
Aldreds are already instructed on many exciting new homes developments in 2020! If you are looking to purchase a brand new home next year call us now so we can talk you through what is in the pipeline and get you registered with us!
Capital Gains tax receipts were around £1Billion up on the previous year. This has been put down in part to second home owners and buy to let landlords cashing in their assets as new tax measures come in to force.
In Great Yarmouth and Lowestoft we haven’t really seen the buying and selling patterns change. Indeed the high yields that can be achieved in this area appear to be resulting in people looking to invest in buy to let and holiday accommodation in this area. With strong sales levels and a fast moving letting market this looks likely to continue for some time.