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Significant rise in residential property transactions

first_imgHome » News » Housing Market » Significant rise in residential property transactions previous nextHousing MarketSignificant rise in residential property transactionsSome estate agents expect to see the number of residential property transactions jump after the General Election.PROPERTYdrum1st May 20150519 Views There has been a sharp increase in the volume of residential property transactions in the UK in the last five years, according to Ludlow Thompson.The company report that transactions have risen by 37 per cent in the last five years, from 878,720 in 2010-11 to over 1.2 million in 2014-15, helping to boost the wider economy.HM Revenue and Customs data reveals that over £10 billion has been raised in revenue from stamp duty on property and land over the past 12 months, which is more than capital gains tax and inheritance tax collectively.Stephen Ludlow, the company’s Chairman, commented, “Not only does the increased activity show that the residential property market is booming, the increased revenue from stamp duty is hugely beneficial in putting the UK on a firmer financial footing.”Last week, HMRC data revealed that the number of residential property transactions reached 100,790 in March, down 2.4 per cent compared to the corresponding month in 2014.“House sale completions are limping along as we approach the final furlongs before the election,” said Adrian Gill (left), Director of Your Move and Reeds Rains estate agents.”But while many prospective buyers are currently dragging their heels, Gill expects to see that see change after the election.“Buyers may be beating around the bush at the moment, but once the political path forward becomes clear, housing market activity will fall back into step,” he added. “We usually see an uptick of confidence following a General Election, almost regardless of the outcome, and any summer boost will propel things from an already high base.”Despite the year-on-year fall in transactions, the Mortgage Advice Bureau (MAB) said that it was pleasing to see the number of monthly property transactions hit over 100,000 last month.Brian Murphy (right), Head of Lending at Mortgage Advice Bureau (MAB), commented, “After a quiet winter – where the number of monthly property transactions dropped below 100,000 for four consecutive months – it is encouraging to see that the growth observed by HMRC in February has been sustained. The number of transactions in March was up four per cent compared to the beginning of the year, suggesting the seasonal slowdown in activity is coming to an end.”Although pleased to see “that there is still plenty of life in the market”, Murphy insists that maintaining affordability and addressing the supply-demand imbalance remains a priority.“A sustained lack of properties coming on the market will stunt future housing activity, and drive up house prices at a rate that could leave first-time buyers on more modest incomes barred from the property ladder,” he added.residential property transactions revenue stamp duty May 1, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Neymar on the move

first_imgBrazilian superstar Neymar is on his way to Paris Saint GermainBarcelona have confirmed that the player has asked to leave the club.The 25 year old will cost the Parisian side around €222 million. Photo © – pixabay Meanwhile there’s good news for Liverpool fans as it seems Daniel Sturridge’s injury is not serious.The striker was substituted with a thigh injury in last nights win over Bayern Munich however the club says it was a precautionary move.last_img

Hughes makes flying start as Southampton reach FA Cup semis

first_imgSouthampton joined Tottenham and Manchester United in the semi-finals, with Leicester and Chelsea meeting in the last quarter-final later on Sunday.It will be Saints’ first appearance in the last four in 15 years. Nevertheless, a trip to Wembley in the semi-finals could provide a welcome tonic as the new manager tries to make his presence felt.It was essential Southampton avoided following in the footsteps of Manchester City, West Ham and Bournemouth — top-flight sides who had all perished against third tier giant-killers Wigan in the FA Cup this season.They achieved that aim thanks to second half goals from Pierre Emile Hojbjerg and Cedric Soares. Wigan, United Kingdom | AFP | Mark Hughes enjoyed the ideal start to his Southampton reign as the struggling Premier League club reached the FA Cup semi-finals with a 2-0 win at Wigan on Sunday.Hughes was hired as Southampton manager this week to replace the sacked Mauricio Pellegrino and the former Saints striker had an immediate impact on his new team.Hughes’ main goal is to help Southampton preserve their top-flight status and they dropped into the relegation zone on Saturday as Crystal Palace won in the league while the Saints were preparing for their quarter-final.center_img “It was an important day for the players today. I have been really impressed with the quality of the talent I have,” said Hughes, who was sacked by Stoke earlier this season.“They have lost a bit of confidence recently but they are good players.“We stood up to Wigan. It was a statement of intent and a start.“We have work to do in the Premier League, but we will enjoy this moment.”Share on: WhatsApp Pages: 1 2last_img read more

Join “Dive into Your Neighborhood Tour” May 16

first_imgSubmitted by Thurston County                                                                                    Enjoy a fun and free tour of north Thurston County on Saturday, May 16 where water quality experts will help you see your neighborhood through the lens of a drinking water glass.The “Dive into Your Neighborhood Tour” will depart aboard a luxury tour bus at 10 a.m. and will include free local food, a scenic tour of spots where you can witness water quality issues in action, plus lots of tips and information about how you can help protect the quality of the water in Puget Sound, in our lakes and streams, and in your very own home.The free “Dive into Your Neighborhood Tour” is hosted by Clear Choices for Clean Water, a partnership between Thurston Conservation District and Thurston County Environmental Health. Residents who live in the Henderson or Nisqually Shellfish Protection Districts are encouraged to register for the tour. Residents who live outside the shellfish protection districts will be placed on a waiting list and will be notified a few days in advance if space is available. All interested residents are encouraged to register as early as possible. To register for the tour and to find out if you live within one of the shellfish protection districts, visit www.thurstoncd.com/clearchoices or call Melissa Sanchez at (360) 754-3588 x105.The tour will begin with refreshments and check-in at the Thurston County Public Health and Social Services building at 412 Lilly Road NE in Olympia. After a presentation on the underground mysteries of septic tanks, the tour will visit several locations in the Henderson and Nisqually Watersheds to understand where our water comes from, where it goes, and how our everyday choices affect the health of the water and the ecosystems it supports. The tour will end with local beverages, free shellfish tasting, music and more! Tour participants will also get to take home free native plants, fertilizers, compost, and other items to help protect water quality for all of us.Not able to join the tour? Henderson and Nisqually Watershed District residents can still learn about local water quality, get tips, tricks and tools to help you protect water quality, and sign up for the Clear Choices for Clean Water rewards booklet with coupons and discounts worth more than $300. Just visit www.thurstoncd.com/clearchoices for more. Facebook0Tweet0Pin0last_img read more