Homebuyers eye commuter belt

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Buyers eye commuter belt

Rightmove has reported that buyer enquiries have doubled for homes worth around £500,000 in towns just outside London, like Milton Keynes, Harrow, and Watford. The spike comes after a stamp duty holiday on buying property costing up to £500k was announced last week.

Adviser comment: "Many of these enquiries are likely to be from existing homeowners looking at moving, which sets off a chain reaction further down the market by freeing up more affordable properties. More houses coming onto the market can only be good news for first-time buyers."

Inflation lagging behind

Inflation was measured at 0.6% in June - still well below the Bank of England’s target of 2%. But it’s up from 0.5% in May, mainly driven by price increases for clothes and computer games. What kept it down? Cheaper food, and the fact that pubs, restaurants, and hotels were shut.

Virgin Atlantic stays afloat

The airline has confirmed a £1.2 billion rescue package to keep its planes in the air and avoid job losses. Virgin originally approached the government for help but was refused - this money is all coming from private investment.

Capital Gains Tax review

Chancellor Rishi Sunak is reviewing the Capital Gains Tax, a levy paid when you sell an asset or investment for more than you bought it for. He says he wants to see if it’s fit for purpose, and maybe simplify the rules on who pays it and when.

Adviser comment: "It would be great to see simpler rules around CGT, but it’s likely the chancellor is looking at this as a way of raising taxes. That’s why it’s important to shelter savings within ISAs, even if the immediate tax implications are not obvious."

Tesco trials refillables

Some online shoppers will be able to get their groceries in reusable containers as part of a new trial by Tesco and shopping platform Loop. How does it work? You apply online to take part, and get your shopping delivered as normal. After you reach the end of the ketchup, yoghurt, or washing up liquid, the empties are collected, washed, and refilled.