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Published: 27 July 2021

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We may be allowed five more years to replace boilers in a major eco row. The PM is looking at pushing back a ban on sales of all new gas versions by 2035 after a furious backlash over costs.

The shift would give more time for new heat-pumps and hydrogen boilers to come down in price, and for businesses to pump extra cash into shifting people over gradually. People will be given the incentive to buy an eco-friendly heat pump but would be given extra time before the ban kicks in.

Government insiders are growing worried about the eye-watering cost of the PM's eco plans - which are set to slap the Treasury with a £400billion bill on top of Covid repayments.

                                                                                                                                                                                                                       Natasha Clark - The Sun

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Published: 21 July 2021

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The average asking price of a home has jumped to £338,447 - a record high for the fourth month in a row and £21,389 higher than it was just six months ago, says property website Rightmove.

The first half of this year was the busiest it has ever recorded with 140,000 more sales agreed than average as the stamp duty holiday helped drive purchases.

The surge triggered a shortfall of 225,000 homes for sale with the average number available per estate agency branch at a record low of 16, compared to an average for this time of year of 31. 

                                                                                                                                                                                                                                                               Daily Mail

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Published: 14 July 2021

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Plans for a 'death tax' that would have hit grieving families with bills of up to £6,000 have been replaced with proposals for a flat fee.

Probate charges for individual executors will increase from current fees of £215 to £273, a 27 per cent jump. Professional users of the probate system, such as solicitors, will see fees rise 76 per cent from £155 to the new flat rate.

It comes after the Government dropped controversial plans that would have seen 280,000 families a year pay on a 'sliding scale' tied to the value of the deceased's estate. If instigated, 56,000 families would be left facing bills of £2,500 to £6,000 to secure probate - the term given to the legal right to a dead person's property, money and possessions. Estates valued at less than £5,000 or less will continue to be exempt from the new fee, due to be introduced early next year.

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Published: 08 July 2021

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House prices have dipped for the first time in five months after the stamp duty holiday came to an end. The price of a typical home was £260,358 in June, down by 0.5 per cent compared to May, says Halifax. Although that figure was still 8.8 per cent, or £21,000. higher than a year ago, experts said it was an early sign that the market is starting to lose steam and that 'peak buyer demand' may now have passed. 

It was the first drop in prices since January and came ahead of the tapering of the stamp duty holiday from July 1st. Estate agents had predicted that price growth may stall as that deadline approached, although many remain bullish about the rest of the summer. 

The boom in prices over the past year has been fuelled by the duty holiday - which exempted homes worth £500,000 or less from tax - as well as demand from families seeking bigger homes with gardens after months of lockdowns.

Russell Galley, Halifax's managing director, said that many buyers would still pay minimal tax with the stamp duty threshold set to be £250,000 until October 1st when it will return to the normal level of £125,000. But he added: 'We would still expect annual growth to have slowed somewhat more by the end of the year, with unemployment expected to edge higher as job support measures unwind, and the peak of buyer demand now likely to have passed.'

Matt Oliver