Rumoured stamp duty extension to end of June – latest estimates
February 24, 2021
Following the latest rumours that the stamp duty holiday could be extended to the end of June, here is the estimated effect it could have:
- Rightmove estimates an additional 300,000 property transactions in England could benefit from the tax saving, based on previous HMRC data
- If an additional 300,000 transactions made it through, buyers could save £1.75 billion in total
- Based on the current sales that have been agreed in England, 80% would pay no stamp duty due to this holiday
There are an estimated 628,000 sales in total still currently in the legal process across Great Britain, including those that were agreed last year and those that have been agreed so far this year.
Currently, Rightmove estimates that 100,000 buyers who agreed a purchase last year are set to lose out, if the deadline stays as 31st March.
You May Also Enjoy
Homeowners in England and Wales overvalue their properties by an average of 16%
Homeowners in England and Wales are overestimating the value of their property by an average of 16%, according to new figures. Data from Quick Move Now compares homeowner estimates with formal estate agent valuations and is broken down by both region and property type. Overall, homeowners overvalue in every single category. Regional breakdown Region…
Read More Emergency Sidewalk Repairs: When to Act and Who to Call
Sidewalks are the unsung heroes of city infrastructure—quietly assisting tens of millions of footsteps every day. But when they crack, disintegrate, or shift all of sudden, they might quickly turn out to be volatile liabilities. In a town like New York, in which pedestrian site visitors are constant and belongings proprietors are legally chargeable for…
Read More Reapit report reveals agents’ long-term market confidence amid legislative challenges
Despite the significant challenges posed by a shifting economic landscape and the largest wave of housing legislation in decades, estate and letting agents remain steadfast in their confidence about their long-term future in the industry. According to the first Reapit Property Outlook Report 2025, covering the full breadth of sales and lettings agency opinion countrywide,…
Read More Owner-Occupiers Drive Resilient Commercial Property Market
Buying Becomes 37% Cheaper Than Renting The latest Commercial Property Demand Index from specialist property finance expert, Rangewell, reveals that while investor appetite across the sector held steady in Q2, strong levels of owner-occupied commercial mortgage activity are helping drive market performance, as business owners increasingly move from renting to buying their long-term premises for…
Read More One year of Labour: Property market performance review
Investors left waiting for planning reform and incentives but majority plan to increase real estate allocation Biggest failures: Lack of incentives for developers and investors, and ineffective planning reform Top priorities: Planning reform, tax incentives, and attracting international capital Where opportunities lie: Data centres, warehousing & logistics, and later-life housing Real estate debt is…
Read More Plumbing Red Flags Every Homebuyer Should Watch Out For
Buying a home is one of the most significant investments a person can make. While factors like location, square footage, and curb appeal often steal the spotlight, what’s hidden behind the walls is just as important—especially the plumbing. Overlooking plumbing issues during the home-buying process can lead to costly surprises down the road. That’s why…
Read More