Housing Industry News

UK gives 3.8 billion pound tax break to housing market

LONDONLONDON (Reuters) - Britain will suspend purchase taxes for homes costing up to 500,000 pounds until the end of March next year in a bid to jump-start the housing market after the coronavirus lockdown, finance minister Rishi Sunak said on…

Britain Wants to Juice the Housing Market, Again

The English are obsessed with owning property but Boris Johnson's government worries that they've not been buying nearly enough houses lately. As elsewhere, the U.K. housing market was put into suspended animation for several weeks to help contain…

Housing market heats up, cruise industry in murky waters

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. TRAVEL: Choice Hotels is…

U.K. Housing Market Was Starting to Revive Before Tax Holiday

The U.K. property market was showing signs of returning to life last month even before the government announced an enormous tax break for most home buyers. Listings and inquiries picked up in June as the coronavirus lockdown started to ease, the…

Seattle-area housing market sees shortage of homes, multiple offers

SEATTLE - The Seattle area housing market in June saw a combination of a shortage of inventory and high buyer demand, pointing to a 'very robust' market in the region, experts said. Even as the novel coronavirus pandemic continues to change some of…

US housing market heats up, 33% more mortgage applications

Categories: Business, Housing (iStockphoto) U.S. homebuying is heating up, despite the pandemic. Applications to borrow to buy a home were up 33% for the week ending July 3 from the same week a year earlier, according to seasonally adjusted data…

UK raises threshold on property purchase tax to boost housing market after COVID

LONDON (Reuters) - Britain will raise the threshold of a tax on property purchases from 125,000 pounds to 500,000 pounds to boost activity in the housing market after the coronavirus lockdown, finance minister Rishi Sunak said on Wednesday. 'This…

Housing market heats up, cruise industry in murky waters

Housing market heats up, cruise industry in murky waters The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work…

Housing market heats up, cruise industry in murky waters

SNP told to match Sunak's stamp duty cut or risk housing market collapse

SNP ministers have been warned that they will risk the collapse of the Scottish housing market if they fail to replicate a huge cut in stamp duty announced by Rishi Sunak. The Chancellor confirmed that house buyers south of the border would not pay…

High-end housing market rebounds from coronavirus doldrums

The coronavirus put a damper on the spring home-buying season and constrained inventory — both in construction and property listings — but one corner of the market is showing signs of improvement. While a lack of supply remains a…

Stamp Duty holiday adds 'rocket fuel' to housing market recovery

The details of the scheme were finally revealed as part of the Mr Sunak's Summer Economic Update this afternoon, in which he also announced a reduction in VAT to five percent for the hospitality and tourism sectors, the Kickstart job scheme for…

No clear end to pandemic-related uncertainty in B.C. housing market

VANCOUVER — A new forecast says the housing market in British Columbia remains uncertain during the COVID-19 pandemic. Central 1 says it expects home sales to recover marginally in 2020 and 2021 after tumbling by 55 per cent between…

America's looming housing catastrophe, explained

America's health crisis began just as Joaquín H. was recovering from his own. He got sick, suddenly, at the end of January. He spent most of February in and out of the hospital, major surgery along the way. As he recuperated in bed…

Pandemic Hasn't Slowed Bloomington-Normal Housing Market

The coronavirus has cut deeply into the Bloomington-Normal economy. But one area that seems to be chugging right along is the local housing market. The number of sales was up 3.9% through May compared with the start of 2019, according to the…