Housing market speeds towards ‘crisis point’ as average price rises £10,000 in a year

Housing market

The UK property market is fast moving downhill as average prices shoot up

The UK property market will face crash, if steps are not taken to check the uncontrolled rise in property prices. Prices of properties have reached alarming levels. According to official figures, the average price rise has been £10,000 in a year. It is already having an impact on the number of first time buyers as there has been a fall of 20pc in the number of land registry indicates.

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RICS survey reveals ‘sustained deterioration’ in activity as price growth stalls


A RICS survey indicates fall in house price growth and market activity

Royal Institution of Chartered Surveyors (RICS)

Royal Institution of Chartered Surveyors (RICS) is a professional organization which oversees the valuation, management, development of land and infrastructure on international standards. With its accredit 125,000 qualified and trainee professionals, RICS is committed to protecting the public interest. The organization has offices across the world and works at cross-governmental level, delivering international standard solutions for a safe and dynamic marketplace in land, real estate, construction and infrastructure. It ensures ethics so that clients are assured of quality.

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Stamp duty is making the housing crisis worse

Rise in stamp duty

Rise in stamp duty is one of the factors responsible for the current property crisis

Stamp duty is playing spoilsport as evident in the current property crisis. It is contributing to the property crisis the UK is going through in the present times. Heavy stamp duty is causing problems for property owners and those looking for new properties. It is affecting the older homeowners as well as the younger generation looking to move up the property ladder.

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What is stamp duty?

stamp duty

Stamp duty is a transaction tax which is paid when buying a property

Stamp duty is the tax which a person when buying a property. Stamp duty applies when the cost of the property exceeds a certain amounts. The rate of stamp duty varies according to the type of property and the price of the property.

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