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Scotland's government has launched a public consultation on a mansion tax targeting homes valued above £1 million, proposing two new bands and forecasted £12–16 million in annual revenue to be shared among councils. The move, part of ongoing tax reform, faces opposition from some opposition figures over housing market impacts and administrative costs.
Israel and the UK see prices and rents easing in parts of their markets, while Australia faces affordability limits. Across regions, supply gaps and policy shifts are shaping buyer and renter behavior amid geopolitical tensions and rising rates.
The Renters’ Rights Act has abolished Section 21 no‑fault evictions in England, shifting tenancies to open-ended agreements, tightening upfront rent rules, and capping annual rent increases. The reforms aim to grant greater security to private tenants, with penalties for non-compliance and expanded rights to have pets and non-discriminatory access.
Home prices in the UK have risen by 1.2% in May, with annual prices showing a North-South split. North and North East lead annual gains, while London and the Southeast see declines. Buyer activity remains strong with record buyer choice and high listings, though price realism remains crucial for quick sales.
May price data show a UK-wide dip in annual growth with May price at £298,806, while buyers face higher mortgage costs and cautious demand. Analysts say activity remains steady but uneven as inflation and rates influence decisions. Buyers and sellers adjust, with first-time purchases affected by deposits and cost of debt.
Zoopla finds a widening gap between house and flat prices since 2016, with houses up 43% and flats 10%, widening the house-to-flat ratio from 1.3x to 1.7x. Regional disparities are strongest in the Midlands and North, while Scotland remains stable. London shows a different pattern, with slower price growth.
Nationwide reports that annual house price growth has picked up to 2.2% in June, while month-on-month prices are flat. Mortgage rates remain elevated but could ease if energy prices stay soft. Buyers are cautious; sellers are pricing carefully amid a slower summer and uncertain outlook.