{"id":26790,"date":"2020-08-14T16:37:19","date_gmt":"2020-08-14T04:37:19","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=26790"},"modified":"2020-08-14T16:37:19","modified_gmt":"2020-08-14T04:37:19","slug":"estate-agents-warn-of-boom-to-bust-for-u-k-housing-market","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/estate-agents-warn-of-boom-to-bust-for-u-k-housing-market\/","title":{"rendered":"Estate Agents Warn of Boom to Bust for U.K. Housing Market"},"content":{"rendered":"<p><strong>PHOTO: People view displays in an estate agent&#8217;s window in Guildford, U.K., on June 12.\u00a0<span class=\"lede-small-image-v2__credit credit\">Photographer: Luke MacGregor\/Bloomberg<\/span><\/strong><\/p>\n<p>The U.K. housing market gained momentum in July after Chancellor of the Exchequer Rishi Sunak announced a stamp duty holiday, but the improvement is expected to be short-lived and some real estate agents are warning of a possible slump as government support for the economy is withdrawn.<\/p>\n<p>New buyers flooded the market and house prices rose in every region bar London, with a key index of values turning positive for the first time since March, the Royal Institution of Chartered Surveyors said Thursday.<\/p>\n<p>The boost reflects a rush to snap up homes since Sunak temporarily raised the threshold for paying stamp duty, a home-buying tax, to 500,000 pounds ($653,000) as part of a package of measures to support jobs and the economy. The tax cut, which runs until March 31, saves someone purchasing a property\u00a0<span id=\"b5bc152e-dd35-11ea-b74a-308d99724420\">up to<\/span>\u00a015,000 pounds.<\/p>\n<p>But RICS warned the outlook beyond the next three months is less bright, with the economy in recession and the government gradually withdrawing support programs that have kept businesses afloat and millions of people in employment.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-12\/estate-agents-warn-of-boom-to-bust-for-u-k-housing-market\">BLOOMBERG<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR<\/span><\/h3>\n<ul class=\"widgets-list-layout no-grav\">\n<li><a class=\"bump-view\" title=\"Harry and Meghan have bought new home around the corner from Oprah\" href=\"https:\/\/propertynoise.co.nz\/au\/harry-and-meghan-have-bought-new-home-around-the-corner-from-oprah\/\" data-bump-view=\"tp\"><img decoding=\"async\" class=\"widgets-list-layout-blavatar lazyload\" data-src=\"https:\/\/i1.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2020\/08\/Harry-and-Meghan.jpg?fit=636%2C382&amp;ssl=1&amp;resize=40%2C40\" alt=\"Harry and Meghan have bought new home around the corner from Oprah\" width=\"40\" height=\"40\" data-pin-nopin=\"true\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 40px; --smush-placeholder-aspect-ratio: 40\/40;\" \/><\/a>\n<div class=\"widgets-list-layout-links\"><a class=\"bump-view\" title=\"Harry and Meghan have bought new home around the corner from Oprah\" href=\"https:\/\/propertynoise.co.nz\/au\/harry-and-meghan-have-bought-new-home-around-the-corner-from-oprah\/\" data-bump-view=\"tp\">Harry and Meghan have bought new home around the corner from Oprah<\/a><\/div>\n<\/li>\n<li><a class=\"bump-view\" title=\"Ticking Timebomb? 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&rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":26791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478108952,478098566,478098562,478098542,478098519,478098535,478098513,478101743,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098509,478110858,478110857,478105261,478101766,478110859],"class_list":["entry","author-data123nz","post-26790","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-covid-19","tag-first-home-buyers","tag-foreign-buyers","tag-home-loans","tag-home-ownership","tag-house-prices","tag-property","tag-property-correction","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-u-k-estate-agents","tag-u-k-housing-market","tag-uk-estate-agents","tag-uk-property","tag-uk-property-crash"],"yoast_head":"<!-- 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