A recent study
carried out by financial advisors Unbiased has revealed that homeowners who
complete their sales and move before the Stamp Duty Holiday deadline of 31
March 2021 could save, on average, £2,000.
The introduction of the Stamp Duty Holiday on 8 July has brought a bounce back to the housing market, as prices leapt by 1.7 per cent. The changes to the tax were brought in the Chancellor Rishi Sunak to stimulate the economy, post-lockdown, and will be of greatest benefit to those who already own a property.
Stamp Duty is typically not paid by first-time buyers.
The drastic cut to the duty will be of benefit to second-time buyers,
landlords, property investors, and those who have purchased a property before
if those seeking to downsize.
But if you are hoping to take advantage of the holiday
period, and move home, then you need to act fast. Selling a home can take up to
140 days, which is the equivalent of five months from agreeing on a price to
completion – and this does not take into consideration the time spent marketing
a property, or time lost if a sale falls through.
The housing market was reopened in May, and in June
suffered a 1.6 per cent drop. Analysts had predicted a 0.1 per cent increase
with the arrival of the Stamp Duty Holiday.
If you would like to move home before the stamp duty holiday deadline of March 31, 2021, and looking for house removal services in London, get in touch!
One interesting development arising as a result of the pandemic and lockdown restrictions keeping us all at home for four months or so is that many people are now keen to move house, with 24 per cent saying they’re considering relocating in the next couple of years.
For first-time buyers, everything about finding and buying your perfect can be difficult. Thankfully, there are many apps that are designed for property hunters to make the process a little less stressful, while providing a wealth of information to help you find and move into your ideal new home.
When planning to relocate, it’s important to research an area well before committing to a house purchase, as you’ll need to make sure it’s the right place for you… and a big part of that will involve looking into stats on the likes of crime, so you know your choice of location is safe for you.
Is there anything more exciting than finding your dream house? While moving can be quite stressful and time-consuming, all that effort suddenly seems worth it when you finally find yourselves in your new home, well settled and happy.
The property market was one of the many industries that was forced to shut down during the coronavirus pandemic, with estate agents unable to show viewers around homes, removal companies unable to work, and conveyancers unable to carry out surveys.
The UK property market
is currently in the state of limbo thanks to coronavirus, as homeowners cannot
have viewers around to look at their residence and buyers cannot get
conveyancers to do standard checks so they can move forward with the purchase.
However, prior to the pandemic, recent figures have shown the sector was faring
If you’re hoping to move home in the coming months, your plans may have slowed down due to the COVID-19 outbreak, but that doesn’t mean you can’t still be doing things to prepare for your change of abode.