HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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STAMP DUTY HOLIDAY FOR PROPERTIES COSTING UP TO £500,000 AND COMPLETED BEFORE APRIL, 2021 IN ENGLAND
The government has temporarily increased the stamp duty threshold to £500,000 for property sales in England and Northern Ireland. First-time buyers will not be taxed if the property is costing £500,000 or less and the legal transaction is being completed before April 2021, more expensive properties will only be taxed on their value above that amount.
UK house prices are up +8.1% in the year to October, taking the average UK house price to £259,100. Of the UK’s largest cities, Nottingham has the highest price growth at +10.9%.
Altrincham in Trafford, Greater Manchester has been named The Sunday Times' Best Place to Live in the UK 2020, with first-class food and drink, a great community, a thriving outdoor market and two of the best schools in the northwest.
* On track for best weekly gains since March
* Trade-weighted sterling hits four-week high
* BoE says rate rise chances have risen
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 15 December 2021, the MPC voted by a majority of 8-1 to increase Bank Rate by 0.15 percentage points, to 0.25%.