Sunday, 16 December, 2018

Stamp duty cut has not helped first-time buyers - RICS

CONFIDENT RICS residential property spokesman Samuel Dickey CONFIDENT RICS residential property spokesman Samuel Dickey
Russell Knight | 18 January, 2018, 15:31

The results of the December 2017 RICS UK Residential Market Survey still show a slowdown in headline momentum, with short-term indicators slightly negative or relatively unchanged.

House prices were recorded as a marginal increase in line with other measures, while tenant demand was reported as falling in December.

The stamp duty cut for first-time buyers has failed to give the United Kingdom housing market an immediate boost, according to the Royal Institution of Chartered Surveyors (RICS).

Respondents were also asked to consider the likely impact on the market over the coming months. 12%, however, thought it might result in higher activity overall, with 28% of London respondents taking this view.

In contrast potential purchasers in the North displayed much more enthusiasm as new buyer enquires rose by 25 per cent and newly agreed sales by 14 per cent last month. The only areas to see an uplift in transactions were Scotland, the North East and Northern Ireland, with the remaining areas across the United Kingdom staying flat or seeing a modest decline.

However, there were more inquiries from prospective buyers than sellers during the month, suggesting a continued gap between supply and demand.

Watch a soldier battle a sheep in new Metal Gear Survive footage
Place fortifications and defensive weapons strategically to give you an advantage against ever intensifying enemies. Konami has revealed more details about their upcoming survival adventure game, Metal Gear Survive .

Would like Britain to rejoin EU after Brexit: European Commission President
And French president Emmanuel Macron joined in, saying that there was still time for the United Kingdom to reconsider Brexit. If the British government wants to chart another course, "we are very much willing to deal with them", he said.

13 starving children bound to beds in house of horrors
According to the California Department of Education , the home was registered as a private school called Sandcastle Day School. But authorities had never before been called to the Muir Woods Road home, where the family moved in 2014.

Northern Ireland respondents indicated that prices here continued on an upward trajectory in December, and local surveyors remain amongst the most optimistic in the United Kingdom regarding the near-term price outlook. However, 23 per cent of contributors noted that appraisals were higher this December than last.

The Chief Economist at the RICS, Simon Rubinsohn, comments: "The initial feedback from the market doesn't suggest that the change in the Stamp Duty regime announced in the Budget is going to have a material impact on activity".

A transaction worth £208,000, the average price paid by a first-time buyer, would previously have been liable for a stamp duty payment of £1,660 - but a first-time buyer will now pay nothing. "This is clearly evident in the sales expectations figures, which still remain in positive territory in more than half of the areas surveyed in the report".

However, NI members did not expect a substantial increase, although their belief prices would go up at all made them among the most optimistic in the UK.

He continues: "The current situation will mean a continued reliance on the private rental sector, so it's welcome news that the Government will be opening a consultation on how to encourage landlords to offer longer tenancies".

Recommended

HAPPY BIRTHDAY! Betty White turns 96 HAPPY BIRTHDAY! Betty White turns 96 It's said she loves vodka and hot dogs , 'probably in that order, ' which we believe it definitely going to keep you going. A rep told TMZ Betty's "relaxing for her birthday and plans on having a low-key dinner tonight at a friend's house".

TalkSPORT FA Cup third-round replay coverage on January 17, 2018 TalkSPORT FA Cup third-round replay coverage on January 17, 2018 It is only the third time three Welsh teams have made it to the fourth round of the competition. In the five games I've been in charge we've won two, drawn two and lost one.

Australian Open: Dimitrov beats Novak in 1st round Australian Open: Dimitrov beats Novak in 1st round 1 spot is the next goals of Dimitrov - who is set to clash against rising Andrey Rublev in the Australian Open third-round. Dimitrov said his big-match experience proved the difference in the end, with the match lasting three hours and 25 minutes.

UAE condemns Qatari "desperate" interception of UAE civil aircraft UAE condemns Qatari Qatar denies the charge and has accused the four countries of trying to make it conform to their foreign policy positions. It is unclear which airline the second aircraft belonged to or whether it landed in Bahrain as planned.

Trump is fit but needs exercise: White House doctor Trump has bragged in the past about his health and energy as well as his IQ score, which he said in 2013 is "one of the highest". The doctor also said Trump showed "excellent cardiac results ... from a stress test" performed on the president last week.

Apple supplier delivers first units of HomePod, to hit the market soon Apple supplier delivers first units of HomePod, to hit the market soon But Apple executives have argued that the combination of smart home control and high-end speakers more than justifies the price. Another insider claims that the delay was because Apple needed more time to fine-tune the hardware and software of the HomePod.

Apple pledges more investments in US Apple pledges more investments in US Cook said that "Reno plays an incredibly important role in the products and services that we provide our customers worldwide". Brian Sandoval and Reno Mayor Hillary Schieve today to celebrate its new facility, the company confirmed Wednesday morning.

48% of Americans think Trump's 'shithole' remarks were racist 48% of Americans think Trump's 'shithole' remarks were racist Sen. "No, no, I'm not a racist ", Trump said, according to a pool report and transcripts released by the White House. David Perdue said Trump "did not use that word" and called the assertions that he did "a gross misrepresentation".

Cape Town residents will soon face level 6B water restrictions Cape Town residents will soon face level 6B water restrictions Day zero is likely to become a reality on 21 April as the result of the 60% of Capetonians who are ignoring water limits. Strong summer rains saw much of southern Africa recover from a drought brought on by the El Nino weather phenomenon.

Facebook and Microsoft team up against WannaCry hacking group Facebook and Microsoft team up against WannaCry hacking group Bossert noted that North Korea has been playing dirty for nearly a decade and its malicious behavior is growing more disgusting. Bossert declined to comment about the Hutchins case, but said "we got lucky" that the WannaCry attack was not more damaging.

Four oil slicks seen, says China — Sunken tanker Sanchi Four oil slicks seen, says China — Sunken tanker Sanchi However, it will be much more hard to separate from water because the condensate is so light, colorless and partially soluble. In addition to the light crude oil, the Sanchi also carried a fuel tank able to accommodate some 1,000 tons of heavy diesel.

Huge asteroid, larger than Burj Khalifa heading towards earth Huge  asteroid, larger than Burj Khalifa heading towards earth A " potentially hazardous " asteroid longer than the world's tallest building is expected to hurtle past Earth in February. The huge space rock will whizz by at a terrifying speed of 34.04km/s, which equates to 67,000mph.

Tillerson Vows US Military Will Stay in Syria Tillerson Vows US Military Will Stay in Syria The Defense Department's language is nearly word for word what the US policy toward Iraq was during former President George W. The US will maintain military presence in Syria, focused on ensuring ISIS can not re-emerge, he announced.

India's Kohli named ICC Cricketer of the Year India's Kohli named ICC Cricketer of the Year Smith now averages 63.75 from 61 Tests, the second-best average of all time for those who have played more than 20 Tests. Two Indians winning it back to back makes it more special. "I also want to congratulate all the other winners".

North Korea: UN Security Council imposes new sanctions over ballistic missile tests North Korea: UN Security Council imposes new sanctions over ballistic missile tests In September, the council demanded imports to be cut to the equivalent of 2 million barrels from 4.5 million barrels. Analysts testified that the fuel caps would put a heavy strain on North Korea , which is already facing shortages.