Category: Residential Property & Conveyancing
Stamp Duty Holiday has finished, so why are house prices still climbing?
According to a recent report by Savills the UK property market could be about to turn back towards city living.
Earlier in the year, we wrote a blog about the thousands of people who faced missing out on the Stamp Duty holiday, resulting in an industry "cliff edge" with many sellers worried their buyers will pull out if they didn't complete in time. But, it seems since the Chancellor extended the holiday, there have been some lessons learned.
We've seen the numerous headlines about how the Stamp Duty holiday has spurred many people into moving house. But, it seems the benefits are more than just financial - and it seems many are trading up lifestyles as well as their homes.
Property prices have continued to climb during the pandemic and many industry experts are wondering if market conditions are sustainable post-Covid. Early signs show that despite a stall in 2021, there are brighter skies ahead.
As the UK eagerly tuned in to the most anticipated Budget for a generation, many were left wondering what the Chancellor’s traditional “rabbit out of a hat” might contain - especially as several big measures had been announced beforehand.
Ahead of next week’s Budget, it looks like the Chancellor has answered calls to extend the Stamp Duty Land Tax (SDLT) holiday deadline for three more months until the end of June, according to an interview the Times has published with Mr Sunak.
As we enter the third national lockdown and tighter restrictions see the closure of schools and non-essential businesses, where does that leave the housing market?
During these uncertain times, it is good to know you can count on us.
Before going into shared ownership with any family members, just make sure you are not setting yourself a trap for later on - as one family nearly found out.