Northern cities surge in mortgage searches
As buyers consider more affordable housing options beyond the capital, the six major Northern cities of Leeds, Bradford, Manchester, Liverpool, Sheffield and Newcastle have witnessed a significant increase in purchase mortgage searches and now account for almost 11% of all mortgage search activity, up by two-thirds on last year1. This surge in demand highlights a broader shift for affordability and life improvements.
Midlife can be demanding. Having moved onto – and, perhaps, up – the housing ladder, started a family and settled down, you would think you might have earned an easy ride.
The Labour government has designed a Renters’ Rights Bill, aiming to improve the rights and protections for tenants.
Changes have already been made to improve rights in Scotland and Wales, so the proposed Bill will be applicable to renters in England, with some elements stretching to Wales.
Economy set for short term Budget boost
New economic projections produced by the Office for Budget Responsibility (OBR) suggest the Labour administration’s first Budget will provide only a ‘temporary boost’ to UK economic output.
“Our mission to grow the economy”
Chancellor of the Exchequer, Rachel Reeves, delivered the Labour government’s first Budget on 30 October with a promise to “restore economic stability” and “invest, invest, invest” to promote growth. In her statement, she outlined a number of new tax and spending measures that she said would create “an economy that is growing, creating wealth and opportunity for all.” In total, the Budget will see taxes rise by £40bn.
Data1 has shown that Inheritance Tax (IHT) receipts have continued their ascent, with £2.8bn received in the April to July period this year. This figure is a substantial £0.2bn increase on the same period in the previous tax year (2023/24).
Money worries outweigh study concerns for almost half of students
Over the years, a number of notable trends, such as increased longevity and individuals taking on greater responsibility for their pension provision, have clearly altered the retirement landscape significantly. Now, new trends look set to further change the face of retirement, adding complexity to the retirement planning process and making early planning ever more essential.
Improving conditions in the residential market
Activity in the residential property market is picking up as house prices continue to show modest growth, according to Savills.
Commercial market update
UK commercial real estate continues to perform well, according to BNP Paribas Real Estate.
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