News & Updates | Page 37 of 43

The Chancellor Rishi Sunak announced two initiatives to keep the Cannock property market firing on all cylinders into 2021. Firstly, the £500,000 zero-rate Stamp Duty band has been extended to the 30 th  June 2021. After then it will phase down to £250,000 for an additional three months, returning to the pre-pandemic levels on the 1 st  October 2021. Secondly, Mr Sunak announced a scheme that will allow Cannock first-time buyers to buy their Cannock home with a 5% deposit from this April. Let me look at what each initiative means to the Cannock property market.

If you are a Rugeley   home buyer,  Rugeley  homeowner or  Rugeley  buy to let landlord, this is an article you should not ignore .. Read the article to find out how these changes will affect you.”

With UK property prices rising by 49% in the last 8 years, but wages by just under 12%, many have put some of the blame for the housing crisis on the Baby Boomer generation. Have Rugeley baby boomers wrecked the Rugeley property market for millennials, holding younger families back from buying their own home?   This is all discussed in this article, with some interesting Rugeley stats that will be surprise you

In Britain, there are 27,071,500 households, of which 17,044,450 are owned, and are worth a total of £3,925,865,212,950 (£3.92 trillion). Over the last 5 years, an average of 86,096 properties sell each month, meaning just over a million UK households move home per year. Therefore, the average British homeowner moves every 16 years 5 months.

In Britain, there are 27,071,500 households, of which 17,044,450 are owned and are worth a total of £3,925,865,212,950 (£3.92 trillion). Over the last 5 years, an average of 86,096 properties sell each month, meaning just over a million UK households move home per year. Therefore, the average British homeowner moves every 16 years 5 months. These statistics refute a common hypothesis that British neighbourhoods are becoming more fleeting and transitory. On the face of it, they appear to show that, once you have succeeded to buy a property you can call home, there isn’t much motivation to move again.   So, why aren’t people moving home so much?

Stamp Duty  is a tax most property buyers pay when buying their Rugeley home or buy-to-let investment, but in July 2020, buyers were given a Stamp Duty tax break until April 2021. Yet, now around a third of a million UK property buyers are delayed in property sales and they could miss out on savings of up to £15,000 if the tax break is cancelled. Read what this will mean for the Rugeley property market in this article