Stamp duty holiday gives property market welcome boost

Published: 24/11/2020

It is no doubt that the stamp duty holiday introduced by Rishi Sunak has had a hugely positive impact on the property market.
Despite the difficulties that the Covid-19 pandemic has caused, the move taken by the Chancellor of the Exchequer has worked exactly as planned. Whilst there may have been no stamp duty coming in to the Government for house sales up to £500,000, the number of transactions that have happened above this figure as a result of the stamp duty holiday have undoubtedly increased.
There are many calls for the Government to extend this stamp duty holiday, particularly since a second lockdown was announced. Now that there is even more optimism in the property market now several vaccines appear to have been found, an extended stamp duty holiday could ensure that the housing market next year is the best we have experienced since Brexit was first announced. We are confident this will ensure that property values will remain strong, as they have done since the first lockdown restrictions were lifted.

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