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It was great news to many that yesterday the Chancellor granted a Stamp Duty freeze to home-buyers in England and Northern Ireland with immediate effect, meaning buyers of homes valued at up to £500,000 will no longer pay any Stamp Duty on the purchase for just under nine months, ending 31st March 2021.
In a bid to boost the housing market following the Covid-19 disruption to the economy, Chancellor Rishi Sunak announced a measure that will save thousands of pounds on a property transaction for many home purchasers. SDLT, often known simply as Stamp Duty, will be cancelled on all property purchases up to half a million pounds, in a bid by the Government to provide a much-needed boost to the property market in England and Northern Ireland, following predictions that property prices were going to fall.
Our Sales & Marketing Director, Dean Markall comments: “Since yesterday’s Stamp Duty announcement, we have seen a large amount of calls and enquiries for each of our developments in the South East, alongside a number of appointments scheduled for the weekend. Even prior to yesterday’s announcement, we have had a strong level of reservations this month.
We have seen the market surge in recent weeks since we re-opened our sites, and the Chancellor’s Stamp Duty announcement will be an added incentive for an already pent up demand from purchasers. Our enquiry levels across all of our sites has now bounced back to the strong figures we enjoyed at the start of the year in January/February, demonstrating a healthy demand for new homes from buyers.
The Stamp Duty changes will be a great support for many buyers, who will now be encouraged to move as there will be no additional tax to pay. We welcome the changes, which will propel the property market forward and offer a much-needed lifeline to the housing sector. These changes have been implemented quickly and responsibly by the Chancellor, and buyers can now move ahead with their purchase without any uncertainty.”
We have many homes that fall under this price threshold which enjoy this great new saving, also our homes priced over £500,000 come with the Stamp Duty paid. To find out more, please visit our new homes page: www.martingranthomes.co.uk/find-your-new-home