Housing
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More than 25,000 first-time buyers in England are set to miss the stamp duty deadline, new data reveals – at a total cost of £34m. From 1 April, the threshold at which first-time buyers start paying the tax will drop to £300,000 from £425,000 – meaning many more will be liable. The stamp duty threshold…
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There was a 286% rise in the number of parliamentary staff who lost their job after July’s general election compared with 2019, the Independent Parliamentary Standards Authority (IPSA) has revealed. IPSA, which regulates and administers MPs’ business costs and staffing, said it has processed redundancy payments for 2,023 people who worked for MPs. That is…
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Matthew Pennycook, the housing minister, is now joining Kay Burley on Sky News Breakfast. Asked if the government will be ripping up environmental laws in order to boot building, the minister denied this is the case. “We’re not ripping up environmental laws,” he says. “If environmental groups want to bring one challenge, if it doesn’t…
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UK house sellers last year made on average £91,820 more than they had originally paid for their property, according to new data. Analysis shows that the average seller made a 42% gross profit last year on their sale – the lowest return since at least 2015, according to the property firm Hamptons. While price gains were lower,…
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US property and casualty insurance stocks fell in premarket trading today after wildfires continued to devour thousands of buildings in Los Angeles. Insurers are expected to face catastrophe-related claims worth billions of dollars from the disaster, which analysts estimate will be the costliest ever in California. “We expect insured losses to run well into the…
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The government has admitted it could take up to five years to reform what it called a “feudal” leasehold system. Housing minister Matthew Pennycook said Labour’s pledge to give 4.8 million leaseholders more rights and protections was “a whole of Parliament commitment” in an interview with LBC. Labour previously promised to act quickly to ban…
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Lowri Williams is struggling to cover her basic expenses. Earning a low income with very little support, she says she feels like she’s “living hand-to-mouth” and barely getting by. She’s one of a large group of people in low-income households who are caught in a precarious position, earning too little to comfortably support themselves, but…
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Treasury minister James Murray has been speaking to the media this morning. He is one of those working on next week’s budget. Yesterday the chancellor confirmed she was planning to change the government’s fiscal rules – how it calculates its debt and the parameters for spending. The shadow chancellor Jeremy Hunt warned this could push…
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Oasis have announced two extra Wembley Stadium shows after their tour sold out over the weekend. Both Liam and Noel Gallagher, as well as Ticketmaster, came under fire over the initial release – as fans spent hours in virtual queues, and some tickets ended up costing more than three times as much due to surge…
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More landlords are selling up in London, with the number of buy-to-let properties up for sale hitting a 10-year-high. Analytics company TwentyCi found 22% of all newly listed homes in July had been available to rent in the last 10 years. This compares with 15.6% in July 2023. Across the rest of the UK, the…
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It’s taking sellers over twice as long on average to sell their homes when they have to reduce the price than when there’s no reduction, according to Zoopla. The property portal said its latest research shows sellers should be realistic when it comes to pricing up their property if they’re serious about moving. According to…
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South Korea’s population mobility rebounded last month on the back of higher housing transactions, statistical office data showed Wednesday. The number of those who moved residence inside and outside the same province or city stood at 512,000 in July, up 6.2 percent from a year earlier, according to Statistics Korea. It turned around after retreating…
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Every Friday we take an overview of the mortgage market, hearing from industry voices and getting a round-up of the best rates courtesy of the independent experts at Moneyfactscompare.co.uk. Slightly under the radar this week was a call for the chancellor to stop a rule change that will add thousands to stamp duty charges next March.…
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Activist lawyer, Madubuachi Idam, on Thursday said Nigerian laws frown at a woman getting 50 percent of her husband’s properties during divorce. Idam warned that women who push their husbands into court marriage with the intent of sharing his properties during divorce should know that such is alien to the Nigerian law. In a chat…
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Aberdeen is the cheapest city to get on the property ladder out of 50 analysed by Rightmove. Carlisle is the cheapest for renters across Britain, the property site found. At the other end of the spectrum, St Albans in Hertfordshire was named as the most expensive city to be a first-time buyer outside London. Meanwhile, Oxford was…
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These images show Palestinians returning to their shattered homes in Khan Younis, southern Gaza. The area has seen some of the most intense fighting of the war and a continuing air campaign above the city has left many residential streets devastated. These Palestinians have returned to recover what they can from from their homes.
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