Latest news with #RichardDonnell
The National
2 days ago
- Business
- The National
Scottish town named the top affordable spot for families
Glenrothes in the heart of Fife was named alongside locations across Scotland and the rest of the UK, including Wishaw in North Lanarkshire and Dartford in the South East of England. Zoopla praised the town for being within easy commuting distance of both Glasgow and Edinburgh. To create its ranking, the property website looked at the ratio of average three-bedroom house prices compared with average earnings in each locality. The Fife town was praised for its commuter proximity to Glasgow and Edinburgh (Image: Google Maps) It then assessed the average number of views on listings for these properties. Discussing the list and the changing behaviours of property buyers, Richard Donnell, executive director at Zoopla, said that the willingness of many to consider different regions or compromise on property features highlights the "adaptive strategies" families are employing in today's market. See the top affordable towns for families in the UK Glenrothes wasn't the only Scottish town highlighted in Zoopla's ranking, with places like Wishaw, Leven and Larkhall also being named. The Fife town was able to top the list, thanks to its low average house price of just under £140,000 and its affordability ratio of 1.8. 1. Glenrothes, Scotland, £136,900, 1.8 2. Llanelli, Wales, £170,600, 2.3 3. Neath, Wales, £176,400, 2.4 4. Port Talbot, Wales, £160,300, 2.1 The average price for a three-bedroom home in Glenrothes was just under £140k (Image: Google Maps) Recommended Reading: 5. Wishaw, Scotland, £168,600, 2.1 6. Maesteg, Wales, £142,200, 2.0 7. Dartford, South East, £423,600, 4.7 8. Leven, Scotland, £164,600, 2.1 9. Larkhall, Scotland, £177,600, 2.2 10. Swanley, South East, £444,900, 4.7 Scotland and Wales dominated the list, seeing only two locations in England included.
RTÉ News
3 days ago
- Business
- RTÉ News
UK house sales sink in April as stamp duty deadline ends
UK house sales dropped sharply last month as the stamp duty deadline put the brakes on buyer activity following a March rush, new figures show. There were 64,680 house sales in the UK in April - 64% lower than the 177,440 reported in March, according to estimates from HMRC. It was also 28% lower than the 89,860 sales reported in April 2024. HMRC said the latest figures have been affected by changes to stamp duty rates - a tax on property which applies in England and Northern Ireland. From April 1, first-time buyers started paying stamp duty on properties costing more than £300,000. They were previously exempt from paying the tax on properties up to £425,000. Buyers wanting to take advantage of the tax relief resulted in a stampede in the months prior to the deadline. Lenders including Lloyds and Nationwide reported their busiest ever month of lending in March with house purchases rocketing ahead of the deadline. Earlier this month, figures from the Office for National Statistics (ONS) showed the average UK house price increased by 6.4% annually in March as the flurry of activity provided some extra impetus for the housing market. "April saw a plunge in transactions following March's stampede to get deals across the line and take advantage of the stamp duty holiday," Jason Tebb, president of property platform OnTheMarket, said. "However, despite the removal of the stamp duty concession, the market remains remarkably resilient. This month's interest rate reduction, the fourth since the Bank of England started cutting rates last August, has given buyer and seller confidence a welcome boost," he added. Richard Donnell, executive director at Zoopla, said the latest data "reflects the rush to beat the stamp duty holiday, which is still impacting the numbers from sales agreed three to five months ago". "Our latest data shows a lull in new sales over Easter but a significant pick-up in sales agreed in recent weeks, reaching their fastest pace in four years," he said. "This resurgence is supported by less stringent affordability testing for mortgages, a larger pool of active buyers and an increase in homes available for sale," he added.
South Wales Guardian
3 days ago
- Business
- South Wales Guardian
House sales ‘plunge' in April as stamp duty deadline ends buyer stampede
There were 64,680 house sales in April – 64% lower than the 177,440 reported in March, according to estimates from HMRC. It was also 28% lower than the 89,860 sales reported in April 2024. HMRC said the latest figures have been affected by changes to stamp duty rates – a tax on property which applies in England and Northern Ireland. From April 1, first-time buyers started paying stamp duty on properties costing more than £300,000. They were previously exempt from paying the tax on properties up to £425,000. Buyers wanting to take advantage of the tax relief resulted in a stampede in the months prior to the deadline. Lenders including Lloyds and Nationwide reported their busiest ever month of lending in March with house purchases rocketing ahead of the deadline. Earlier this month, figures from the Office for National Statistics (ONS) showed the average UK house price increased by 6.4% annually in March as the flurry of activity provided some extra impetus for the housing market. Jason Tebb, president of property platform OnTheMarket, said: 'April saw a plunge in transactions following March's stampede to get deals across the line and take advantage of the stamp duty holiday. 'However, despite the removal of the stamp duty concession, the market remains remarkably resilient. 'This month's interest rate reduction, the fourth since the Bank of England started cutting rates last August, has given buyer and seller confidence a welcome boost.' Richard Donnell, executive director at Zoopla, said the latest data 'reflects the rush to beat the stamp duty holiday, which is still impacting the numbers from sales agreed three to five months ago'. He added: 'Our latest data shows a lull in new sales over Easter but a significant pick-up in sales agreed in recent weeks, reaching their fastest pace in four years. 'This resurgence is supported by less stringent affordability testing for mortgages, a larger pool of active buyers and an increase in homes available for sale.'
North Wales Chronicle
3 days ago
- Business
- North Wales Chronicle
House sales ‘plunge' in April as stamp duty deadline ends buyer stampede
There were 64,680 house sales in April – 64% lower than the 177,440 reported in March, according to estimates from HMRC. It was also 28% lower than the 89,860 sales reported in April 2024. HMRC said the latest figures have been affected by changes to stamp duty rates – a tax on property which applies in England and Northern Ireland. From April 1, first-time buyers started paying stamp duty on properties costing more than £300,000. They were previously exempt from paying the tax on properties up to £425,000. Buyers wanting to take advantage of the tax relief resulted in a stampede in the months prior to the deadline. Lenders including Lloyds and Nationwide reported their busiest ever month of lending in March with house purchases rocketing ahead of the deadline. Earlier this month, figures from the Office for National Statistics (ONS) showed the average UK house price increased by 6.4% annually in March as the flurry of activity provided some extra impetus for the housing market. Jason Tebb, president of property platform OnTheMarket, said: 'April saw a plunge in transactions following March's stampede to get deals across the line and take advantage of the stamp duty holiday. 'However, despite the removal of the stamp duty concession, the market remains remarkably resilient. 'This month's interest rate reduction, the fourth since the Bank of England started cutting rates last August, has given buyer and seller confidence a welcome boost.' Richard Donnell, executive director at Zoopla, said the latest data 'reflects the rush to beat the stamp duty holiday, which is still impacting the numbers from sales agreed three to five months ago'. He added: 'Our latest data shows a lull in new sales over Easter but a significant pick-up in sales agreed in recent weeks, reaching their fastest pace in four years. 'This resurgence is supported by less stringent affordability testing for mortgages, a larger pool of active buyers and an increase in homes available for sale.'
South Wales Argus
3 days ago
- Business
- South Wales Argus
House sales ‘plunge' in April as stamp duty deadline ends buyer stampede
There were 64,680 house sales in April – 64% lower than the 177,440 reported in March, according to estimates from HMRC. It was also 28% lower than the 89,860 sales reported in April 2024. HMRC said the latest figures have been affected by changes to stamp duty rates – a tax on property which applies in England and Northern Ireland. From April 1, first-time buyers started paying stamp duty on properties costing more than £300,000. They were previously exempt from paying the tax on properties up to £425,000. Buyers wanting to take advantage of the tax relief resulted in a stampede in the months prior to the deadline. Lenders including Lloyds and Nationwide reported their busiest ever month of lending in March with house purchases rocketing ahead of the deadline. Earlier this month, figures from the Office for National Statistics (ONS) showed the average UK house price increased by 6.4% annually in March as the flurry of activity provided some extra impetus for the housing market. Jason Tebb, president of property platform OnTheMarket, said: 'April saw a plunge in transactions following March's stampede to get deals across the line and take advantage of the stamp duty holiday. 'However, despite the removal of the stamp duty concession, the market remains remarkably resilient. 'This month's interest rate reduction, the fourth since the Bank of England started cutting rates last August, has given buyer and seller confidence a welcome boost.' Richard Donnell, executive director at Zoopla, said the latest data 'reflects the rush to beat the stamp duty holiday, which is still impacting the numbers from sales agreed three to five months ago'. He added: 'Our latest data shows a lull in new sales over Easter but a significant pick-up in sales agreed in recent weeks, reaching their fastest pace in four years. 'This resurgence is supported by less stringent affordability testing for mortgages, a larger pool of active buyers and an increase in homes available for sale.'
