Latest news with #JonathanHopper
Times
10-05-2025
- Business
- Times
Priced out of your dream location? Try these cheaper areas nearby
Buyers priced out of prestigious cities, towns, suburbs and villages are heading to the next-best version nearby, turning the idea of 'location, location, location' on its head. Jonathan Hopper, the chief executive of the search company Garrington Property Finders, calls the phenomenon 'halo postcodes'. 'We always had the mantra, 'location, location, location', but that is changing now,' he says. 'It's a post-pandemic trend that became a perfect storm, with house prices rising rapidly and then, with Liz Truss, mortgage rates rising rapidly. 'Buyers face three variables. One is the price, one is the property itself and the third is the location. Affordability is becoming constrained. A lot of buyers can't stretch any further financially — they need a certain kind of property, so it's location
Yahoo
03-05-2025
- Entertainment
- Yahoo
Wiltshire village that has 'timeless charm' named among most beautiful in UK
A Wiltshire village that 'epitomises timeless charm' has been named as one of the most beautiful villages in the UK. Castle Combe was handpicked by property experts as part of The Daily Mail's list of 24 villages. The article states: 'With stories of rats and overflowing bins recently dominating the news, it's easy to forget that the UK is blessed with beautiful villages dotted up and down the country. 'But where can you find these gorgeous places? We've spoken to estate agents, property experts and buying agencies to bring you a selection of the UK's prettiest villages. 'The 24 most beautiful villages in Britain have now been revealed by experts…there's little-known ones and surprising gems - but does your favourite make the cut?' The Mail's article states: 'With golden, stone-roofed cottages, cosy country lanes and a babbling brook, it's no surprise that this Wiltshire village with its sweeping views across Gloucestershire, Berkshire, Dorset, and Somerset has been a filming location for Downton Abbey, War Horse and more. 'And 'Castle Combe is the epitome of timeless Cotswold charm', says Jonathan Hopper, CEO of Garrington Property Finders. Patchwork fields, picturesque villages and iconic landmarks, Wiltshire is the ideal place to visit all year round... — VisitWiltshire (@VisitWiltshire) April 29, 2025 'Most of the houses date back centuries and are built from honey-coloured Cotswold stone, which looks lovely all year round. 'The ancient bridge over the by Brook Valley in particular is 'pinch yourself' beautiful.' Equally stunning villages were also picked by experts, including Goudhurst, Kent, Great Budworth, Cheshire, The Mardens, West Sussex and Mells, Somerset. Recommended reading: Castle Combe things to do from motorsports to river walks Marlborough tops Wiltshire's 'most desired' market towns Malmesbury named best place to live in Wiltshire as top 10 revealed The news that Castle Combe made the most beautiful list comes shortly after two other Wiltshire villages were ranked among the 29 poshest places to live in Britain. Biddestone and Shalbourne were both picked for their 'intangible sense of a village's so-called poshness' by The Daily Mail back in April. The rankings added that the villages are an attraction for those with 'deep enough pockets'.
Daily Mail
30-04-2025
- Business
- Daily Mail
House prices FELL in April as stamp duty rise causes market lull
House prices fell in April as the rise in stamp duty dampened the property market, according to Nationwide Building Society. Prices fell by 0.6 per cent in the month of April, the data showed, after taking account of seasonal effects. In cash terms, the average home fell in value from £271,316 to £270,752. It means annual house price growth slowed to 3.4 per cent in the 12 months to April, down from 3.9 per cent in the year to March. Robert Gardner, chief economist at Nationwide attributes the fall to the stamp duty changes at the start of the month. He said: 'The softening in house price growth was to be expected, given the changes to stamp duty at the start of the month. 'Early indications suggest there was a significant jump in transactions in March, with buyers bringing forward their purchases to avoid additional tax obligations. 'The market is likely to remain a little soft in the coming months, following the pattern typically observed following the end of stamp duty holidays.' Up until 1 April this year, first-time buyers paid stamp duty if a home cost more than £425,000. However, this has now dropped to £300,000 meaning costs have risen for many. For example, instead of paying no stamp duty on a purchase worth £425,000, they are now paying £6,205. More homes on the market Aside from the stamp duty impact, there has also been a glut of homes on the market which can contribute to falling prices. In the four weeks to 20 April there were 12 per cent more homes for sale, than a year previously, according to Zoopla. The average estate agent branch had 34 homes for sale, compared to 31 at the same time last year and a low of 15 in 2022 during the pandemic boom. Jonathan Hopper, chief executive of buying agent, Garrington Property Finders says this is creating a perfect environment for buyers. 'In some parts of the UK, the supply of homes for sale is now far outstripping demand,' said Hopper. 'This is especially true in more expensive, and often highly desirable, areas where the trickle of supply has turned into a flood. 'In these areas, buyers find themselves blessed with both abundant choice and considerable negotiating power - and this is keeping prices flat or even nudging them down.' However, while sellers are listing their homes, many buyers appear to be dithering rather than haggling, according to Matt Thompson, head of sales at Chestertons estate agents. 'House hunters who entered the market in April were in less of a rush with some even pausing their search amid the Easter holidays,' said Thompson. 'Sellers, on the other hand, remained motivated and we have seen a clear uplift in homeowners listing their property for sale in April year on year.' What will happen to house prices next? Some within the property industry think the market will pick up modestly, after turbulence caused by US trade tariffs put downwards pressure on interest rates. Mortgage rates have been falling with the Bank of England now expected to cut interest rates three or four times this year, rather than just twice. This week has already seen a number of major lenders cut mortgage rates. On Monday, HSBC launched more than a dozen fixed rate deals below 4 per cent. Yesterday, NatWest cut mortgage rates with deals as low as 3.88 per cent for homebuyers, and today Barclays also announced a wave of cuts. Hopper added: 'Looking ahead, the prospect of interest rate cuts over the coming months will make mortgages more affordable and give buyers a little more leeway in their budgets. 'This should help average house prices inch upwards, but the abundance of supply will ensure that the pace of price rises remains modest.' However, Tom Bill, head of UK residential research at Knight Frank said things could quickly turn the other way. 'The risk is that inflationary pressures creep back into the system for reasons that include recent employer tax changes, which could mean the Bank of England slows the pace of rate cuts,' said Bill. 'Together with renewed speculation ahead of the Autumn Budget, it could curb buyer numbers after the summer.' Best mortgage rates and how to find them Mortgage rates have risen substantially over recent years, meaning that those remortgaging or buying a home face higher costs. That makes it even more important to search out the best possible rate for you and get good mortgage advice. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you To help our readers find the best mortgage, This is Money has partnered with the UK's leading fee-free broker L&C. This is Money and L&C's mortgage calculator can let you compare deals to see which ones suit your home's value and level of deposit. You can compare fixed rate lengths, from two-year fixes, to five-year fixes and ten-year fixes. If you're ready to find your next mortgage, why not use This is Money and L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you.
Business Mayor
23-04-2025
- Business
- Business Mayor
Treasury raked in £1.4BILLION in stamp duty in March as home buyers raced to beat hike
Homebuyers rushed to complete their property purchases in March ahead of stamp duty going up on 1 April, new figures have revealed. The Treasury raked in a collective £1.4billion in stamp duty receipts in March, according to analysis of His Majesty's Revenue and Customs data by Coventry Building Society. It was a £357million increase on the previous month, and a £544million (63 per cent) increase on March 2024. This was the final month where homebuyers could benefit from the reduced stamp duty thresholds. From 1 April the nil rate thresholds dropped from £250,000 to £125,000 for home movers – taking the tax bill on an average-priced home in England from £2,082 to £4,582. Your browser does not support iframes. First time buyer relief dropped from £425,000 to £300,000. The average first time buyer home in London costs £477,695, meaning the stamp duty bill for a typical first time buyer in the capital shot from £2,634 to £8,884, according to Coventry. So far this year, homebuyers have paid £3.3billion in property taxes. The thresholds are now at levels which were originally set in 2014, when the average house price in England was £191,986, compared to £291,640. The average tax bill was £1,340 in 2014, compared to £4,582 today, by Coventry's estimates. Stamp duty was temporarily reduced in 2022 as part of the then-Conservative government's growth plan. 'March was always going to be a busy month for homebuyers, with people rushing to complete before the stamp duty cliff edge,' said Jonathan Stinton, head of mortgage relations at Coventry Building Society. 'Now the deadline has passed, many will be facing thousands more in upfront costs – which can be a big hit when people are already juggling deposits, legal fees, and the cost of setting up a home. 'These kinds of changes don't just affect individual buyers – they can shift the market as a whole. 'Some might delay moving altogether, while others could be priced out of areas where the average house price is above the threshold. 'It raises the question about whether our property tax system is keeping pace with today's housing market – where prices have surged and tax bills rocketed as a result.' Looking ahead, some experts think the stamp duty stampede will give way to a lull. This happened in July 2021 after the previous stamp duty holiday, which was in place during the pandemic, began to be phased out. This resulted in average house prices falling by 4.7 per cent in one month from £242,777 to £231,386, according to Land Registry data, a dive of more than £10,000. The stamp duty holiday was fully phased out on 30 September 2021, which resulted in another monthly fall of 2.5 per cent in October. Jonathan Hopper, chief executive of buying agent, Garrington Property Finders, thinks we are likely to see the tax take fall over the coming months. 'The £1.4billion paid into Government coffers in March could prove a high water mark for stamp duty receipts, and this figure may not be beaten for some time to come,' said Hopper. Jonathan Hopper, chief executive of buying agency Garrington Property Finders 'In an ironic twist, the Chancellor's decision to increase the tax burden on thousands of homebuyers may end up delivering less revenue for the Treasury, not more – making this tax grab less than a stellar success.' '[The stamp duty reduction} created a distorting effect in the market, in which some prospective buyers brought forward their purchase in order to save thousands in tax.' Hopper is now expecting to see activity drop off as buyers adjust to higher stamp duty costs. The number of prospective buyers contacting estate agents fell in March. 'With those transactions now complete, some parts of the country are facing a 'morning after' effect in which buyers are suddenly thinner on the ground. 'In fact, the party was already winding down during the final weeks of the stamp duty surge. 'Looking ahead, the market is once again being driven by the forces of supply and demand. 'With the supply of homes for sale increasing each month, those planning a move are often spoilt for choice. 'With high levels of supply likely to keep price rises modest and mortgage lenders reducing the cost of borrowing in recent weeks, homes could become steadily more affordable in coming months.' Mortgage rates have risen substantially over recent years, meaning that those remortgaging or buying a home face higher costs. That makes it even more important to search out the best possible rate for you and get good mortgage advice. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you To help our readers find the best mortgage, This is Money has partnered with the UK's leading fee-free broker L&C. This is Money and L&C's mortgage calculator can let you compare deals to see which ones suit your home's value and level of deposit. You can compare fixed rate lengths, from two-year fixes, to five-year fixes and ten-year fixes. If you're ready to find your next mortgage, why not use This is Money and L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage. Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.
Daily Mail
23-04-2025
- Business
- Daily Mail
Treasury raked in £1.4BILLION in stamp duty in March as home buyers raced to beat hike
Homebuyers rushed to complete their property purchases in March ahead of stamp duty going up on 1 April, new figures have revealed. The Treasury raked in a collective £1.4billion in stamp duty receipts in March, according to analysis of His Majesty's Revenue and Customs data by Coventry Building Society. It was a £357million increase on the previous month, and a £544million (63 per cent) increase on March 2024. This was the final month where homebuyers could benefit from the reduced stamp duty thresholds. From 1 April the nil rate thresholds dropped from £250,000 to £125,000 for home movers – taking the tax bill on an average-priced home in England from £2,082 to £4,582. First time buyer relief dropped from £425,000 to £300,000. The average first time buyer home in London costs £477,695, meaning the stamp duty bill for a typical first time buyer in the capital shot from £2,634 to £8,884, according to Coventry. So far this year, homebuyers have paid £3.3billion in property taxes. The thresholds are now at levels which were originally set in 2014, when the average house price in England was £191,986, compared to £291,640. The average tax bill was £1,340 in 2014, compared to £4,582 today, by Coventry's estimates. Stamp duty was temporarily reduced in 2022 as part of the then-Conservative government's growth plan. 'March was always going to be a busy month for homebuyers, with people rushing to complete before the stamp duty cliff edge,' said Jonathan Stinton, head of mortgage relations at Coventry Building Society. 'Now the deadline has passed, many will be facing thousands more in upfront costs – which can be a big hit when people are already juggling deposits, legal fees, and the cost of setting up a home. 'These kinds of changes don't just affect individual buyers – they can shift the market as a whole. 'Some might delay moving altogether, while others could be priced out of areas where the average house price is above the threshold. 'It raises the question about whether our property tax system is keeping pace with today's housing market – where prices have surged and tax bills rocketed as a result.' What will stamp duty changes mean for the market? Looking ahead, some experts think the stamp duty stampede will give way to a lull. This happened in July 2021 after the previous stamp duty holiday, which was in place during the pandemic, began to be phased out. This resulted in average house prices falling by 4.7 per cent in one month from £242,777 to £231,386, according to Land Registry data, a dive of more than £10,000. The stamp duty holiday was fully phased out on 30 September 2021, which resulted in another monthly fall of 2.5 per cent in October. Jonathan Hopper, chief executive of buying agent, Garrington Property Finders, thinks we are likely to see the tax take fall over the coming months. 'The £1.4billion paid into Government coffers in March could prove a high water mark for stamp duty receipts, and this figure may not be beaten for some time to come,' said Hopper. 'In an ironic twist, the Chancellor's decision to increase the tax burden on thousands of homebuyers may end up delivering less revenue for the Treasury, not more - making this tax grab less than a stellar success.' '[The stamp duty reduction} created a distorting effect in the market, in which some prospective buyers brought forward their purchase in order to save thousands in tax.' Hopper is now expecting to see activity drop off as buyers adjust to higher stamp duty costs. The number of prospective buyers contacting estate agents fell in March. 'With those transactions now complete, some parts of the country are facing a "morning after" effect in which buyers are suddenly thinner on the ground. 'In fact, the party was already winding down during the final weeks of the stamp duty surge. 'Looking ahead, the market is once again being driven by the forces of supply and demand. 'With the supply of homes for sale increasing each month, those planning a move are often spoilt for choice. 'With high levels of supply likely to keep price rises modest and mortgage lenders reducing the cost of borrowing in recent weeks, homes could become steadily more affordable in coming months.' Best mortgage rates and how to find them Mortgage rates have risen substantially over recent years, meaning that those remortgaging or buying a home face higher costs. That makes it even more important to search out the best possible rate for you and get good mortgage advice. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you To help our readers find the best mortgage, This is Money has partnered with the UK's leading fee-free broker L&C. This is Money and L&C's mortgage calculator can let you compare deals to see which ones suit your home's value and level of deposit. You can compare fixed rate lengths, from two-year fixes, to five-year fixes and ten-year fixes. If you're ready to find your next mortgage, why not use This is Money and L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you.
