30/10/2024
What does today's budget 🏡🏘🏠 mean for the property market?
Rightmove has given us an overview see the link below:
🤝£5 billion government investment to deliver Labour’s housing plan, with a £500 million boost to the Affordable Homes Programme
🤝£25 million put towards the delivery of 3,000 energy-efficient new homes across the country, with a target of 100% of these being affordable
🤝Capital Gains Tax on residential property will remain unchanged
🤝plans to make the Mortgage Guarantee Scheme permanently available to support lending at 95% loan-to-value
🤝There was no mention in today’s Budget of the extension to the current stamp duty relief for first-time buyers, which is due to end in March 2025
🤝The stamp duty surcharge for those buying second homes, such as landlords buying properties to rent out, is set to rise by 2% from 31 October 2024, increasing from 3%, to 5%
A positive overview of our Autumn market 🍂🍁
We’ve seen strong levels of activity in the typically busy autumn season, and lots more people looking to get on with home moves than we saw in the more muted market of 2023. The number of sales agreed is up 29% compared to the same time last year, while the number of people sending enquiries to estate agents about homes for sale is up 17%. On top of that, buyers will also find more choice of homes, with the number of homes for sale up 12%
01162147555
www.hampsonsestateagents.co.uk
https://www.rightmove.co.uk/news/articles/property-news/autumn-budget-housing-market-2024/?utm_medium=email&utm_campaign=cus-ea-all-hub-hubmail_30-10-24&utm_source=adobe&branchID=221540&AMid=5983875
Take a look at the changes announced by Rachel Reeves in the first Labour Budget in 14 years, and how they could impact home-movers.
