Meet the Stamp Duty deadline

November 04, 2020

Zoopla reports indicate that sellers should act now to beat the Stamp Duty deadline, with a high volume of sales in progress 50% bigger than last year.

Popular online portal Zoopla estimates that current sales in progress total £112bn, with high demand meaning the sales pipeline is 50% bigger than last year.

According to Zoopla the exponential growth experienced this year means that house prices are on average 3% higher. The demand is expected to last well into 2021.

However, vendors wishing to benefit from the Stamp Duty holiday will need to act quickly. The high volume of sales means additional pressure placed on agents, lenders, valuers and conveyancers.

Housebuyers should aim to agree a sale of their own home as soon as possible to allow plenty of time for completion. Those planning to place their home on the market in January need to be prepared and would be well advised to instruct an agent sooner to beat the final rush.

Local areas are enjoying the greatest rise in sales volumes, making this an excellent time to sell. Levels of properties coming onto the market are remaining high this autumn, with the current sales inventory per agent 18% higher than October 2019.

If you would like to buy or sell a home, take advantage of the demand and the Stamp Duty holiday, contact your local branch at Mackenzie Smith, or take a look at our website.

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