Member of the National Association of Estate Agents (NAEA) have reported that the current market is levelling out; however there are still signs of uncertainty.
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Nationwide has said that house price growth bounced back strongly in March, following a lull in February.
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Conservative leader David Cameron has come out in favour of more help for first time home buyers, insisting that “everyone should have the right to own their own home”.
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The number of new mortgage approvals has gone up again said the British Bankers Association - and confirming more signs of a growing house market.
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House prices have risen by 0.5pc in March according to the latest survey from Hometrack. It’s the fourth consecutive month of house price growth and the highest monthly rise since the summer of 2004 the company said.
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The National Association of Estate Agents (NAEA) has commented on the Halifax report that average homebuyers in London pay more than £7,500 in stamp duty.
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Although the Chancellor announced the inheritance tax threshold would rise gradually to £325,000 in 2009/10, Halifax has expressed it’s disappointed that he failed to immediately raise the threshold further, and believes an opportunity has been missed to lift many ordinary people out of reach of this outdated levy.
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For the first time, at £257,120, the average price of a residential property in London is now above the £250,000 threshold at which stamp duty is paid at 3%, according to the Halifax.
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The Royal Institute of Chartered Surveyors has given it’s reaction to the Chancellors Budget on March 22nd. RICS said that the Chancellor is right to raise the Stamp Duty threshold but claimed that the rise is so small (from £120,000 to £125,000) as to be derisory and represents a squandered opportunity.
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Gordon Brown has announced a continuation of government plans to raise the threshold for the inheritance tax (IHT) by two more years.
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Gross mortgage lending totalled £21.8 billion in February according to the latest data from the Council of Mortgage Lenders (CML).
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