Economics
U.K. Home Asking Prices Jump on Tax Break to Fight Virus Slump
- Values rise the most in more than three years, Rightmove Says
- U.K. firms plan to cut spending, Deloitte survey of CFOs says
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Home sellers across Britain are optimistic again after the government temporarily cut a tax on property, according to the website Rightmove.
Advertised prices climbed 3.7% from a year earlier in July, the most in more than three years, Rightmove said on Monday. Values were 2.4% higher than when the lockdown started in March. Stamp duty, a levy on home sales, was suspended on July 9 for about 90% of transactions, saving most buyers thousands of pounds.