Stamp Duty Holiday

“The chancellor’s announcement of a stamp duty holiday on purchases up to £500,000 will clearly be extremely welcome news to those already in the process of moving home, or who were planning to do so this year. But in my view, the positivity and benefits are likely to ripple throughout the housing market and economy. The significant cost savings will no doubt stimulate the ‘chain building’ process, with those exceeding £500,000 still hugely benefitting, but will also encourage others now in need of that extra bit of space, be it a home office or garden, both unsurprisingly hugely sought after following lockdown conditions, to make that move. The extent of the holiday, to March 2021, will give movers that much-needed confidence, sustaining the positive return to the housing market we’ve noticed since we were able to return to work on 13th May.”