Posted on Tuesday, March 9, 2021
- The Chancellor has announced an extension to the Stamp Duty Holiday to the end of June 2021 for purchases up to £500,000 in England, buyers able to make a saving of up to £15,000. From 1 July - 30 September no Stamp Duty will be payable on main home purchases up to £250,000, buyers able to make a saving of up to £2,500. From 1st October, the Stamp Duty rates will revert to normal.
- HMRC estimated transactions for 2020 were -11.5% below 2019 figures. Rightmove reported 10% more sales agreed in 2020 than in 2019 and Zoopla reported 9%. We should see these complete over the next few months.
- An estimated 121,640 transactions (seasonally adjusted) were recorded in January 2021, the highest January total since 2007 and 24.1% higher than January 2020 (HMRC). Transaction numbers remain high as many seek to complete purchases prior to the Stamp Duty Holiday deadline, currently the end of March.