Housebuilders boosted by stamp duty cuts and moves to free up planning
Vistry and rivals Countryside and Crest Nicholson enjoyed share gains after Kwasi Kwarteng revealed a boost for homebuyers and developers.
Source: eastlothiancourier.com
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Mixed industry reaction to Chancellor's stamp duty cuts
Chancellor Kwasi Kwarteng’s announcement of new stamp duty cuts received a mixed reaction from the mortgage market with some suggesting it is one of the chancellor’s “crowd-pleasing tricks” while others suggest he “swung his axe boldly”. The announcement saw a flurry of new stamp duty thresholds for first-time buyers
Source: mortgagestrategy.co.uk
Will a cut to stamp duty raise house prices and is it a good move?
Raising the threshold to £250,000 means that a third of all homes currently for sale are now completely exempt from stamp duty in England, up from 7 per cent when the threshold was £125,000
Source: dailymail.co.uk
House prices up £32k in a year says ONS
The uptick means that the average house price in the UK was £283,000 in May 2022, £32,000 more than the same time last year.
Source: thisismoney.co.uk
Construction output lifts by 1.5% in May: ONS
Construction output in May lifted by 1.5% compared to the month before, the seventh month in a row of volume growth amounting to a record high of £15.1bn. The May increase came solely from a rise in new work, of 2.8%, as repair and maintenance activity registered a slight decline, falling by 0.4% on the month,
Source: mortgagestrategy.co.uk