Council Tax information letter 4/2024: Pension-age Council Tax Reduction applicants and Universal Credit

The Ministry of Housing, Communities and Local Government has issued guidance allowing billing authorities in England to use their discretionary powers to prevent pension-age council tax support applicants from losing their support when they migrate to Universal Credit during the 2024-25 financial year. These measures, implemented at no net cost to the authorities, aim to mitigate the impact on pensioners caused by the closure of Working Tax Credit. However, the cost of other discretionary discounts under section 13A(1)(c) of the Local Government Finance Act 1992 will still need to be covered by the billing authority.

https://www.gov.uk/government/publications/council-tax-information-letter-42024-pension-age-council-tax-reduction-applicants-and-universal-credit

UK House Price Index for June 2024

 The UK House Price Index (HPI) provides data on house price changes across England, Scotland, Wales, and Northern Ireland.

Key Highlights from June 2024:

• House prices in the UK rose by an average of 0.5% since May 2024, with an annual increase of 2.7%, bringing the average property value to £288,000.

England:

• Average house prices increased by 0.6% since May 2024, with an annual rise of 2.4%, making the average property value £305,000.
• Yorkshire and the Humber saw the highest monthly increase at 2.7%, while the Southwest experienced the largest monthly decline at 1%.
• Yorkshire and the Humber also had the highest annual price increase at 4.7%, whereas London saw the lowest annual growth at 0.6%.

Regional Data for England:

• East Midlands: Average price £245,000, annual change +1.6%, monthly change -0.5%
• East of England: Average price £339,000, annual change +1.2%, monthly change +0.1%
• London: Average price £523,000, annual change +0.6%, monthly change +1.2%
• Northeast: Average price £165,000, annual change +4.2%, monthly change +1.5%
• Yorkshire and the Humber: Average price £215,000, annual change +4.7%, monthly change +2.7%

Repossession Sales (April 2024):

• The Northeast had the highest number of repossession sales, while the East of England had the lowest.

London:

• House prices in London rose by 1.2% since May 2024, but the annual increase was only 0.6%, bringing the average property value to £523,000.
• Prices for detached homes in London fell by 0.7%, while semi-detached homes saw a rise of 2.6%.

Wales:

• House prices in Wales increased by 0.3% since May 2024, with an annual rise of 1.8%, making the average property value £216,000.

UK Overview:

• UK house prices rose by 2.7% annually, remaining stable from May to June 2024.
• The highest monthly increase was in Yorkshire and the Humber (2.7%), which also had the highest annual growth (4.7%).

https://www.gov.uk/government/news/uk-house-price-index-for-june-2024