House prices have have gone crazy recently as buyers rush to take advantage of the stamp duty discount, which runs until the end of March 2021. However, it appears the house price boom may be about to come to a grinding halt with new data showing a predicted fall in prices in January and February.
Agents and the housing market in England are still in business even during the third national lockdown which begins on Wednesday and will last until mid-February at least.
The government’s decision to introduce new tier 4 restrictions for London, the south-east and east of England, amid a surge in Covid-19 cases and growing concern about a new strain of coronavirus spreading rapidly in the region, has left many people feeling disappointed as their Christmas plans are thrown into disarray.
Buy-to-let sales boom as landlords rush to benefit from stamp duty holiday.
Surging activity has seen house prices rise by 6.5% in November, the highest rate of growth since January 2015, Nationwide’s House Price Index has revealed.
One in five individual and multi-property landlords felt unprepared when they first started letting properties, research by Direct Line – Business found.
There were 1,464 repossessions in the North West in the past 12 months, the most of any region, research from home buying platform Yes Homebuyers has found.
The stamp duty holiday, which came into immediate effect in July as part of the Chancellor’s summer economic update, has helped to sustain the property market’s boom after the first lockdown – and is expected to keep momentum up over the next few months until it comes to a close on March 31, 2021.
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