The North South divide is expanding - Published:15/12/07
Rampant house price inflation has expanded the North South split with average properties in London contravention the £300,000 barrier – double the cost of a house in the NorthA NATION alienated: The cost of a home in London is more than twice that in the north of BritainWhat's the property gossip See what This is Money readers have to speak and share your views on the message boardsthat's the caution from one economist Read the report and link the 'reader comments' debate: Property crashThe buy-to-let bubble is set to rupture, says a appreciated City analyst Read the report and have your say: Buy-to-letThe latest periodical regional house price report by the Halifax has revealed that the cost of an average house in London rose by 49% to £313,000, between April and JuneThis is more than twice the cost of a property across the North of England, where 'standard' homes cost £155,000, those in Yorkshire and the Humber cost £149,000 and those in the North West price £152,000Greater London has seen prices rise by 184% over the past year, approaching the cost of a home further out of reach for unparalleled buyers and young familiesAt the same occasion average house prices in the South East passed the £250,000 mark to place at £260,000Northern Ireland, where prices have risen by a staggering 47% over the history year, saw the highest house price price rises in the three months to the end of June, with the average house rising by 85% to hit £228,790The fast rise in prices there has been fuelled by investment spilling over the border from the state of Ireland, however with the Irish property marketplace faltering, experts predict growth in Northern Ireland will slowIn England, price rises of 43% in the North pressed house prices in the region above £150,000 for the first occasion to £155,000Yorkshire and the Humber, where three-month inflation was 23%, is the only region in England where the average house costs less than £150,000, although only fractionally so at £149,000 Scotland, with three-month price rises of 06%, is the only other place in Britain where homes price below £150,000 - with an standard of £140,000Signs that the market is cooling outside hotspot areas continued, with some regions redistribution falls between April and June Prices slipped by 28% in Wales, 11% in the West Midlands and 04% in the South WestOne-bedroom flats in many parts of London now cost more than the 3% stamp duty doorsill (£250,000), forcing first-time buyers to hand over at least £7,500 in dutyMeanwhile, the cost of a patio house in many areas has gone past the £500,000 mark at which trample duty hits 4%, forcing families to disburse at least £20,000 when they buyTim Crawford, Halifax group economist, supposed that if stamp duty thresholds had risen in row with house prices since 1997, the present £250,000 and £500,000 thresholds would stand at £720,000 and £1,440,000 respectivelyHe said: 'The typical homebuyer in London and the South East, in exacting, faces a rising tax burden due to the government's continuing failure to increase the inheritance duty and trample duty thresholds in line with house price inflation'HALIFAX local HOUSE PRICES APRIL - JUNE 2007RegionAverage priceThree-month % changeAnnual % changeHere's one "North-South split" issue you won't hear Northerners whinge on top of and on top of and on top of aboutSelect a loan term 12 months (1 year) 24 months (2 existence 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 years) 84 months (7 years) 96 months (8 existence 108 months (9 existence 120 months (10 existencePlease select a type of insurance Life insurance Home and inside Car Breakdown services Health - medical Health - dental journey.
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Almost a third of detached house sales liable for IHT tax - Published:07/12/07
Almost a third of detached possessions sales are now potentially legally responsible to pay the inheritance (IHT) tax, according to new researchAccording to the Halifax, 29 per cent of separate property sales in the UK are above the 2006/07 IHT threshold of £285,000This compares to five years before when only 13 per cent of separate sales would have attracted IHT above the then threshold of £234,000Halifax calculates that in London 82 per cent of detached property sales occurred above the IHT threshold over the past day, followed by the south-east (59 per cent) and the east of England (37 per cent)The revenue raised by the administration through IHT has risen by £13 billion since 1996/97 from £16 billion to £29 billion in 2004/05 A further go up is estimated in 2005/2006 to £33 billionhome prices have risen by 176 per cent over the past ten existence The average price now equates to 62 per cent of the IHT doorsill compared with 40 per cent ten years beforeMoneyExpert Limited is authorised and regulated by the Financial Services power (FSA Registration No 301654) The monetary Services Authority does not regulate some forms of mortgage.
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Halifax ups house price prediction - Published:14/11/06
BRITAIN'S biggest mortgage lender greater than before its forecast for house price enlargement in 2006 today - admitting the market had gathered more momentum than expectedincreasing PRICES: Halifax has increased its house price prospect for 2006 after the market gathered more steam than predictedThe Halifax said it now estimated average price enlargement to be 5% this year, rather than the 3% it before forecastThe bank added that property prices in July rose 02% on the preceding month to an average of £177,020, with the alter on a year ago at 88%, partly because the performance in the same month of 2005 had been weakThe Halifax said the marketplace gathered a 'little more momentum' than expected in the first half of 2006, but added that cost inflation was likely to ease during the rest of the day as stronger comparisons with a day ago kick inChief economist Martin Ellis supposed: 'Increased pressure on householders' finances and mounting speculation of interest speed rises are also likely to curb demand'Earlier this week Nationwide Building civilization supposed property prices moved forward by 08% in July, compared with a go up of 03% in June and 02% in MayIt put the annual speed of growth at 59% - more than double the speed seen last year when prices were rising at an annual rate of 26%The 02% monthly increase reported by the Halifax comes after consecutive declines in May and June It said the mixed prototype of rises and falls was a typical characteristic of a more stable accommodation marketMr Ellis pointed out that the fundamentals for the UK economy appeared sound, with far above the ground levels of employment and near to the ground interest rates continuing to support housing demand over the remainder of 2006 Halifax said the 5% predict for house price growth this day matched the figure reported for 2005 but was still below the long-term average of 8%choose a loan term 6 months 1 year 18 months 2 natural life 3 natural life 4 natural life 5 natural life 6 natural life 7 natural life 8 natural life 9 natural life 10 natural lifePlease select a type of insurance Life insurance Home and contents railway wagon Breakdown services Health - check-up Health - dental Travel Pet - dog Pet.
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