How Britain’s oldest tax is stifling the housing market

The Exchequer has raked in revenue from the pandemic-induced surge in property prices, a result of Rishi Sunak’s stamp duty holiday that not only propped up the housing market through Covid but caused a flurry of transactions. Official figures indicate that house prices have jumped 20pc since the start of the pandemic. Meanwhile, the stamp … Read more

The housing market can only defy gravity for so long

However, if, as Capital Economics predicts, interest rates hit 3pc and banks start to pull in their horns by passing through the cost of mortgage borrowers, the cost of servicing the same mortgage on the same house will likely eat up over half of a standard household’s disposable income. If interest rates hit 4pc, we’re … Read more