Rather than the usual end-of-year lull that comes from buyers and sellers winding down for Christmas, 2024 is seeing an acceleration in the UK property market in the final quarter.
Home sales will "jump" at the beginning of next year as people try to buy before the rise in stamp duty, one of the UK's biggest lenders has predicted.
Mortgage rates drop to lowest rates seen in 15 months as house prices rise and more homes are sold.
The Times reports that capital gains on profits from the sale of shares and some other assets, which is currently levied at 20%, is likely to increase by “several percentage points”. But the rate will not change for second homes.
The UK housing market is showing signs of a rebound, with new data from the Royal Institution of Chartered Surveyors (RICS) highlighting a rise in house prices and sales due to falling borrowing costs.
Nationwide is set to launch new competitive mortgage products, including a five-year fixed-rate mortgage at 3.74% and two-year fixes starting from 3.89%.
As the property market enters the typically busy autumn season, early action is already underway, with both buyers and sellers capitalising on improved conditions.
The Renters’ Rights Bill was published today and introduces a series of reforms designed to increase protections for tenants while maintaining a balance that allows landlords to manage their properties effectively.
Buyers are paying extra for energy-efficient homes and less for inefficient properties, the Nationwide house price index also found.
