Welcome to this week’s edition of our Property News Roundup, where we bring you the latest insights and trends shaping the real estate landscape.
This week in property news, economists at Nomura project that delivering 1.5 million new homes by the end of this parliamentary term could boost Britain’s GDP by up to 0.8%. Nationwide has introduced a 5-year mortgage deal with an interest rate below 4%, signalling renewed optimism in the housing market. Meanwhile, fewer than 40% of homes in England will be exempt from stamp duty for first-time buyers when current thresholds revert in April 2025, highlighting ongoing challenges in housing affordability.
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Now, let’s have a look at the latest headlines that have caught our eye this week…
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Property News This Week
Nationwide has become the first large lender in months to offer a 5-year mortgage deal at an interest rate below 4 per cent, as lower borrowing costs breathe optimism into the housing market. The building society said that from Wednesday it would cut the interest rate on a range of loans. Its five-year fixed rate for borrowers with at least a 40 per cent deposit will fall by 0.19 percentage points to 3.99 per cent.
Changes to First Time Buyer Stamp Duty
That concludes this week’s updates. If you have any thoughts or questions about these headlines, feel free to reply—I’d love to chat with you about the latest market trends and discuss your investment goals.
I’ll be back next week with more insights on the property market. Enjoy your weekend!
