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Housing Market

Post Budget Press Release - The Cornish Housing Market for 2017 and Crystal Ball Gazing in to 2018.

Chancellor Philip Hammond announced in the budget on 22nd November that stamp duty would be abolished immediately for first-time buyers buying a home up to £300,000. For properties costing up to £500,000, no stamp duty will be payable on the first £300,000.

The Current Housing Market

UK house price growth unexpectedly picked up in August, underpinned by strong employment growth and a shortage of properties on the market, according to Britain’s biggest mortgage lender. The average price of a house rose by 1.1%, reported The Halifax.  Prices in the three months prior to August were 2.6% higher than a year earlier. UK home sales have exceeded 100,000 for seven months running. Between June and July they edged up to 104,760, the highest level since March 2016, according to HMRC.

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