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Postcodes in cities like Birmingham, Edinburgh and Glasgow logged the highest price increases

29 November 2017

Postcodes in regional U.K. cities like Birmingham, Edinburgh and Glasgow have logged the biggest price increases in the past year, leaving London trailing behind, according to Barclays Postcode Property Index released Tuesday.

The index shows that across the U.K., individual postcodes are bucking the national housing market trend, which in September 2017 recorded just a 0.4% increase, according to the index.

Birmingham’s B16 postcode ranked No. 1 as the average house price rose in July 2017 to £171,498 (US$226,791) from last year’s £147,121 (US$194,582), a 17% price bump, according to the index, which identified the most thriving postcodes in the U.K.’s top...

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First time buyers will benefit from stamp duty cuts even if house prices rise

24 November 2017

irst time buyers will benefit from the Government’s decision to abolish stamp duty even if house prices rise, the Institute for Fiscal Studies has said.

On Wednesday Phillip Hammond used his Budget to hand first-time buyers a stamp duty cut with those purchasing homes worth up to £300,000 now fully exempt. Those buying properties worth between £300,000 and £500,000 will receive a partial discount.

Last night critics warned that the policy would end up making home ownership more difficult for young people after the Office for Budget Responsibility said it would cause house prices to rise by 0.3 per cent. But...

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UNITED KINGDOM | Number of Available Tier 1 Exceptional Talent Visas Doubled

21 November 2017

The United Kingdom Home Office has announced that the number of visas available annually through the Tier 1 (Exceptional Talent) visa route is increasing from 1000 to 2000. Tier 1 visas are available to nationals of non-European Economic Area (EEA) countries who are recognized as global leaders or promising future leaders in the fields of digital technology, science, arts, and other creative fields by one of five UK endorsing organizations. Those five organizations are Tech City UK, Arts Council England, the British Academy, the Royal Society, and the Royal Academy of Engineering.

The current allocation of 1000 visas – which is...

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Living in these parts of London is cheaper than moving to the commuter belt

16 November 2017

Analysis of house and commute prices in some of the capital’s most popular commuter towns has suggested staying in some zone three locations could save people more than £11,000.

Taking into account stamp duty, legal fees, removal fees and rail fares, moving to Sevenoaks will cost an average £28,647 a year over a 25-year mortgage. Meanwhile, the annual cost of mortgages and rail fares for those living in Upton Park is £17,326: an £11,321-a-year difference.

The figure is similar for many of the capital’s most popular commuter towns: living in Woking, in Surrey, costs commuters £28,107, while life in St Albans costs...

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UK to double tier 1 visas to lure foreign tech talent

15 November 2017

Tier 1 visas are set to double in order to increase the migration of tech based talent to the UK. The new immigration plan is a statement of Britain’s aim to remain open to business post-Brexit.

The British government is planning to double the number of visas in the Tier 1 (Exceptional Talent) category in a bid to lure highly skilled foreign workers to the UK.

Prime Minister Theresa May revealed that officials were working out the practical details of the proposal to raise the current, annual total of 1,000 visas under the ‘exceptional talent’ route to 2,000 route.

Tech sector migrants from... Read More

Four in 10 home sellers in London cut asking prices as UK property market slumps further

13 November 2017

The proportion of London home sellers dropping their asking price is rising as the property market slumps further.

With more than four in 10 revising lower, the average price cut of 6.7 per cent reflects “initial over-optimism and a tougher market,” Rightmove said in a report published Monday.

New vendors coming to the market in November are also reducing their expectations, albeit more modestly, with a 0.2 per cent decline from a month earlier to £628,219. That’s an annual drop of 2.4 per cent — a far cry from growth of more than 20 per cent in 2014.

Pressure on incomes keeps... Read More

London house price forecasts borough by borough

06 November 2017

UK ECONOMY

KPMG has a very deep understanding of the UK economy and suggestions that the UK economy will remain fairly subdued for the short to medium term are worth listening to. We know that there are a number of dark clouds hovering over the UK economy such as Brexit, political uncertainty and a recent change in interest rate policy by the Bank of England. While many believe Brexit offers good long-term opportunities to invest in the UK it is unlikely we will see widespread investment while uncertainty surrounds the talks with the European Union.

LONDON BOROUGHS

It is ironic but we will...

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