Those scrambling to get their future homes realised before the stamp duty on houses holiday ends have been granted a glimmer of hope as the Northern Research Group has put forward a request to extend the stamp duty holiday for a further year – a request that has seen the backing of over 50 Conservative MP’s from the North of England.
The group has highlighted in the request that families and businesses are dangling on a cliff edge over the upcoming months with the end of existing support programmes.
With extensions to the holiday deemed a necessity in order to protect families and individuals caught up in the pandemic’s economic fallout, the group feels that the extension should apply to properties selling under £500,000.
The request has lined up with various media outlets showing that Rishi Sunak is considering the holiday extension due to many factors, which may also lead to long term tax changes on the fundamental property, with one new tax replacing the current stamp duty and council tax levies.
All eyes are on the government setting the date and time to discuss the extension following the large numbers of online petitions.
With 2021’s lockdown playing an extra level of concern for the many homebuyers completing their discovery and finalisation of new properties, comfort is assured that estate agents in Stockport are open for business as usual and sticking to the strict guidelines set down by the government.
As the countdown to the stamp duty holiday deadline gets increasingly close, many people may feel that buying a property advice at this time may be frivolous when it is actually as good a time as any to get things into motion.
At the same time, those looking into avenues of how to sell a house may also be feeling that the market is too congested to get the sale they want at this time, which is also not so true.
As the very real talks and motions to extend the stamp duty holiday continue to warrant attention, an extension will no doubt see another surge in activity for those looking to buy and sell properties. An extension may be granted but it is not a sure thing that it will be extended again following it.
Talking with an Independent
In discussing the current landscape of the housing sector with independent estate agents Stockport, you will get the localised reliable insight that pertains to your needs. As different areas of the UK may get variations on how the market is affected, engaging with the team at Joules in wanting to buy property in Stockport gives you the service that you need and the news first hand of any change that occurs, and the best advice for stamp duty on houses.
Now is the best time to consider your purchase or sale with a possible extension on the horizon, in order to avoid being at the end of the line by the next intended deadline that is imposed.