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Stamp Duty Cut - What It Means for Buyers and Sellers

The Stowhill Estates Stamp Duty Update – Good News for Some!

Today, the Chancellor announced the news that the housing market has been waiting for. To stimulate demand, Rishi Sunak has temporarily suspended Stamp Duty for house purchases up to £500,000 with immediate effect.

Whilst at the upper end of the market, sales are buoyant and buyers are confident, the middle to lower levels of the market is where we predict there could be drops in confidence, and therefore property prices.

🏡The Details: Temporary removal of Stamp Duty with immediate effect for houses purchases up to £500,000 until the 31st March 2021

🏡The Savings: at £250,000, the savings will amount to £2,140, whilst at £500,000 and above, buyers will save a substantial £15,000

🏡The Impact: Around 73% of all property sales will now be temporarily exempt from Stamp Duty charges, with house purchases up to £500,000 generating no charge. This will mean 9 out of every 10 people buying a main home pay no Stamp Duty.

🏡What this means for you if you’re a buyer:
Great news - you could save up to £15,000 on your next purchase!

🏡What this means for you if you’re a seller:
A more buoyant market and high buyer confidence means you have the potential to sell quicker and for a higher price!

Want to know more about how this move could affect you personally? We’d love to help you. A confidential chat will help you make the right decisions for you and your family – just give us a call on 01235 751 888 or email us directly on hello@stowhillestates.com - Hope to speak soon!

Lucy & Michael

Stamp Duty Cut - What It Means for Buyers and Sellers

Tags: stamp duty, property market, rishi sunak
Posted on Jul 08 2020 by Lucy Joerin
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Do you have a unique and beautiful home you’d like to sell?  Or perhaps your home has been on the market for longer than you’d like, and you’d like to find out how we might be able to make your home sale work better for you.

 

At Stowhill Estates, our bespoke approach aims to refresh and rejuvenate interest in property by using innovative and creative marketing methods, and to offer our sellers and buyers a truly special experience.

 

If you would like to discover for yourself how our unique Success Formula could work for you and your home, click the button below to book your free 60 minute home consultation.

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