Property expert opinion
How the Stamp Duty Holidays shaping the market!
With the June Stamp duty holiday behind which gave home movers the benefit of £500,000 of relief, we expect to see the next wave of buyers looking to make a saving on stamp duty and will be focused on completing before the 30th of September. Until this date, buyers will save stamp duty on the first £250,000 of their purchase.
There is still the surcharge in place for second homes and investment properties.
With recent figures from Dataloft showing demand is up 28.6% and supply is down 20.8%, this is fuelling the increases we are seeing in house prices.
As we are now in the summer months, these are traditionally good months for new properties coming to the market because property tends to look its best with gardens in full bloom!
Yes, the stamp study holiday has certainly helped the market, but our opinion is, this is not the only factor, particularly in the family home market. We are seeing this already with the number of buyers still registering looking for their next home. There just is such a shortage of supply of new homes coming to the market and making this a real sellers’ market place.
We are increasingly being asked by vendors, how they can speed up the transaction of the sale of their home, this has a larger focus when you have fixed deadlines, like a stamp duty holiday:
"There just is such a shortage of supply of new homes coming to the market and making this a real sellers’ market place."
Our advice is:
Talk to your Solicitor or Agent to recommend one.
When you are thinking of putting your property to the market, I would recommend instructing a solicitor before you are ready to market your home, this way you can make sure all the of the necessary paperwork is with your solicitor, including guarantees and warranty’s / certificates for works carried out in the property. Some local Solicitor’s will also review the title at the stage to make sure this is all in order.
This will ensure as soon as a buyer is found a contract can be issued. This typically will save you 2 weeks. We appreciate that when you are in a chain you can only go as slow as the slowest part of the chain, but at least this gives you the best chance of decreasing the time between accepting an offer to exchange of contracts.
We would be delighted to offer a free obligation appraisal of your property from our experienced agents. Please visit us on www.langtownandcountry.com or email on firstname.lastname@example.org as a lot of our new clients are surprised at the value of their property.
40 Mannamead Road
Sales: 01752 256000
Lettings: 01752 201010
Land & New Homes:
6 The Broadway
Tel: 01752 456000
47 Notte St
Tel: 01752 200909