Transactions expected to surge in early 2025
Property experts predict a surge in transactions early in 2025 ahead of Stamp Duty changes in April. In the 2022 mini-budget Stamp Duty thresholds were increased, so in the last two years homebuyers have paid a reduced amount of tax. However, in the Autumn Budget 2024, Chancellor Rachel Reeves confirmed that the thresholds will revert […]
Insurers paying out more in claims
In Q2 of this year, property insurance payouts reached the highest figure since records began in 2017*. Homeowners and businesses are continuing to reap the benefits of having protection, as insurance companies paid out £1.4bn in claims between April-June 2024 – a 5% quarterly increase. The average home insurance payout also rose by 16%, reaching […]
Mortgage approvals on the up
Consumers are continuing to rebuild their confidence, with mortgage approvals hitting the highest level in nearly two years. In July 2024, there were 62,000 new house purchase mortgage approvals – a 2.3% monthly rise and the greatest number since September 2022, when there were 65,100 approvals. Consumer mortgage lending has also reached highs we haven’t […]
