LONDON (CU)_ In July last year, the Chancellor of the Exchequer Rishi Sunak decided to raise the level at which tax on property purchases to be paid from £125,000 to £500,000, with the aim of warding off a collapse in the housing market amid the COVID-19 pandemic. This, along with record low interest rates and increased demand for larger homes pushed house prices to all-time highs. Now, with the stamp duty having partially ended, and economic activities reviving from a major downturn, the housing market also appears to be returning to more normal levels following a pandemic-driven boom.
Data issued by the Bank of England on Wednesday (29 September) showed that in the month of August, home loans were authorised by…
