In the news this week<\/a>: property market reacts to Labour Budget; house prices rise 1%; and the October mortgage market has been released…<\/p>\n <\/p>\n \u201cYesterday\u2019s speech revealed a huge increase in spending, alongside a hefty hike in taxes, in what was a historic Budget by all accounts. While it consists of the biggest tax-raising Budget since 1993, it also included major investment in a bid to \u201cget Britain growing\u201d.<\/p>\n For the UK property market, the rumour mill had been churning profusely over recent weeks as to what tax hikes awaited it, as well as whether there would be any support for the rental market. Under the Tories, landlords had seen tax hikes in the form of both stamp duty and changes to mortgage interest relief, and many were calling for a step-change to boost the sector\u201d\u2026<\/p>\n \u2060–\u00a0Eleanor Harvey, BuyAssociation<\/em><\/strong><\/p>\n Read the full article<\/a><\/p>\n <\/p>\n \u201cHouse prices are 1% higher than this time last year, according to September data from online property portal Zoopla, with sales activity at its highest since 2020, writes Jo Thornhill.<\/p>\n The number of \u2018sales agreed\u2019 is 30% higher than a year ago, with first-time buyers representing 36% of all sales, making them the largest buyer group in 2024 so far\u201d\u2026<\/p>\n –\u00a0Jo Thornhill, Laura Howard, Forbes<\/em><\/strong><\/p>\n Read the full article<\/a><\/p>\n <\/p>\n \u201cOctober has also brought updated forecasts, particularly from Savills, which initially predicted a 3% drop in UK house prices for 2024. However, this forecast has now been revised to a 2.5% increase. According to Land Registry data (via Which?), annual house prices have risen by 2.8%\u201d\u2026<\/p>\n – Jonathan Fowler, BuyAssociation<\/em><\/strong><\/p>\n Read the full article<\/a><\/p>\n <\/p>\n \u201cThe provisional non-seasonally adjusted estimate of the number of UK residential transactions in September 2024 is 94,800, 2% higher than September 2023 and 9% lower than August 2024, according to HM Revenue & Customs recent UK monthly property transactions\u201d\u2026<\/p>\n –\u00a0Katie Johnson, Today\u2019s Conveyancer<\/em><\/strong><\/p>\n Read the full article<\/a><\/p>\n <\/p>\n \u201cThe council has hired CBRE to draw up a strategic regeneration framework for 280 acres east of the town centre with plans to deliver 4,000 homes over the next 15 years\u201d\u2026<\/p>\n – Dan Whelan, Place North West<\/em><\/strong><\/p>\n Read the full article<\/a><\/p>\n <\/p>\n <\/p>\n The 7am Cut BuyAssociation curates a weekly news letter of the top property news headlines \u2013 to receive your weekly round up of property news,\u00a0register today. In the news this week: property market reacts to Labour Budget; house prices rise 1%; and the October mortgage market has been released… Property market reacts to Labour… Read more »<\/a><\/p>\n","protected":false},"author":4212,"featured_media":6103138,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[716,685,59],"tags":[],"class_list":["post-6103136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-7am-cut","category-stockport","category-trending-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6103136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/4212"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=6103136"}],"version-history":[{"count":2,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6103136\/revisions"}],"predecessor-version":[{"id":6103139,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6103136\/revisions\/6103139"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/6103138"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=6103136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=6103136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=6103136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Property market reacts to Labour Budget 2024<\/strong><\/h3>\n
House Prices Rise 1% as sales activity soars, first-time buyers leading charge – Zoopla.<\/strong><\/h3>\n
The October Mortgage Market<\/strong><\/h3>\n
<\/h3>\n
Property transactions 2% higher than same period last year – HMRC<\/strong><\/h3>\n
Stockport doubles town centre homes ambition<\/h3>\n
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