HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Unveiling its policy plans as the Conservative Party conference began yesterday, the government said it would begin consultations on Sunday to increase the stamp duty on individuals and companies not paying tax in the UK.
"The Bank of England has raised interest rates from 0.5% to 0.75% after much speculation. Expectations of a strengthening economy, solid employment levels, more consumer spending and the potential for wages to rise have all played a part in the decision." (BBC News)
The average rent has now risen above £800 per month across England and Wales.
New research saw average rental figures in July hit £804, up from £789 in the previous month - an increase of 1.9%. This is the fastest month-on-month rise since records began in 2009.
Hong Kong residents are buying more houses and apartments to lease out for income in Britain, and have became the fifth largest foreign investors in central London as of last August, driving up prices in some popular districts outside the UK capital.
The Competition and Markets Authority has confirmed that domestic consumers have been overcharged for electricity usage, and it brings a huge criticism of the ‘big six’ suppliers who have been controlling the market over many years. To further solve this problem and the failing market, Nottingham City Council and Bristol City Council took a step forward and established fully licensed ESCOs (Energy Services Companies), which can control the energy supply and help to boost the economy.