stamp duty extension

Six Week Extension on Stamp Duty?

Whilst there is doubt over the extension of six weeks to the stamp duty holiday deadline in preventing fall throughs, the good news has been that a solution has been forwarded and opens the potential for more to follow.

With a drive to extend the holiday to mid-May instead of March 31st as a first stop, this does allow for further sales to be completed but could result in would-be purchasers missing another deadline instead.  This has invoked an immediate response to now focus on a second deadline being potentially extended also, providing comforting news to the 100,000 buyers since before Christmas hoping to have their process completed.

Promising Outlook

With record amounts of buyers still working towards completion of the March 31st deadline, there are unending drives to protect the interests of those agreeing to purchases dating back to July 2020 when the stamp duty holiday came into effect.

Currently, buyer demand is ahead of this period in 2020 and key metrics are stronger for the first week in February compared to a year earlier. Purchases agreed are up by seven percent despite the stamp duty savings benefit, with the future sales pipeline looking especially strong from an eighteen percent enquiry rise from prospective buyers to estate agents.

The high buyer demand is currently outstripping new supply and aiding the edging up of prices despite the current economic environment challenges.

Asking Price Raises

Also, asking prices are on the increase following three falling months.

With a 0.5 percent rise on average property prices coming to market, the surge is not necessarily charged by the stamp duty holiday as new deals are not destined to meet the current March deadline. This has been fueled by a shortage of supply and a decline in new sellers coming to market, along with increased demand.

With last year’s lockdown playing a huge favour in interest in moving to bigger homes to suit their needs, 2021 could see the trend continue and interest be as high as buyer metrics point to being ahead of early 2020 figures.

With strong indication that buyer demand is not facing the cliff-edge of March 31st, those looking to buy property in Stockport look to continue to keep interested in the borough high for demand, from luxury apartments to larger housing needs.

For the latest buying a property advice, guidance on how to sell a house in the current climate and stamp duty extension updates, talk with the friendly team at Joules who are your local estate agents in Stockport and your family-run independent housing specialists.

Read More

new build properties for sale stockport

Stockport is the Thriving Hotspot for Property

Stockport has long been considered a highly sought-after area on people’s property hunts, however, the past year has seen a sizable shift in interest towards the location to make it a hotspot for housing. There are now plenty of new build properties for sale in Stockport, as well as remarketed properties.

Those who previously lived in the Manchester City area have shifted attention to escaping city life whilst having an ease of access to the city for work and leisure, whilst those in the opposite direction of Cheshire are feeling a closer affiliation to the city of Manchester is highly beneficial during this point in time due to the stamp duty tax holiday making the move more financially viable.

This provides a great deal of scope for Stockport in terms of property sales and growth.

Recent Changes

Stockport has always acted on plans for potential growth and efficiency in living for the area, undertaking many projects to make the borough among the most appealing to neighbouring areas.

A large investment in the town centre in 2017 and strengthening of public transport links were viewed as encouraging steps in transporting the area into a draw for affordable housing. Prior to the lockdown, the borough was becoming home to more upmarket bars and restaurants to go with its already established high rated schools around the area. This has made it a perfect arena for families looking for long term settlement.

Popular Regions

Stockport encompasses many different areas for living and accommodates different budgets for affordable living.

Whilst interest remains highest for areas such as the Heatons, Cheadle and Bramhall due to the most popular schools occupying the area, there is great interest in Davenport due to its closer proximity to the town and its affordable living structure. Heaton Chapel also remains high of interest due to the palatial and expensive housing developments in the area, making it a high bidding area for living.

Edgeley is another area being sought due to its ease in affordable housing and connection to Stockport Railway Station.

Selling Your Stockport Home

Those looking to sell their home in Stockport have never seen a better time to sell up, as interest is higher than in years previous.

Those looking to gain guidance on how to sell a house should look into local independent estate agents Stockport with a good grasp of the area over a national seller. It is recognised that agents with more local knowledge are able to identify key selling points and positives that can push interest to a sale from interested buyers.

When it comes to Stockport living and finding the right home to buy or sell, talk with the team at Joules Estate Agents in Stockport to beat the crowd, avoid disappointment and secure your future home with new build properties for sale in Stockport.

Read More

stamp duty update

Latest Stamp Duty Update

This week Joules Estate Agents are bringing you another stamp duty update this week. Those awaiting hope in the form of extension of the stamp duty holiday to buy property in Stockport may feel they have been left in limbo whilst the government makes no concrete decision on the rapidly approaching March 31st deadline. Joules Estate Agents are bringing you another stamp duty update this week.

Whilst around 140,000 signatures have been reached on an online petition has been met with almost complete agreement on both sides of the political bench, the movement towards a more phasing finish is where the current plan resides with no doubt more news to come.

With the key agenda being the importance of the wider economy in avoiding housing market instability, there has been added industry lobbying and public interest involved in the issue.

Where It Stands

At the time of writing, the Financial Secretary for the Treasury has not committed to any potential policy ahead of next month’s Budget but has raised the comment that public and political views will be a part of the consideration, with a focus on how substantial performance and completion have played out.

What is meant by ‘substantial performance’ is in relation to possible tapered end to the exemption, particularly where buyers at certain transactional stages would still receive their SDLT discount after the deadline ends.

Positive Outlook

With cross-party support for the issue in relation to the stamp duty holiday ended, many independent estate agents Stockport and homebuyers are seeing this as a positive that the sudden cliff-edge deadline a mere two months away may have a more tapered end or extension on the horizon.

Of course, the housing market boom over the last year that was fueled by the stamp duty holiday has been a great success for the housing market, and although initial fears of sales falling through at the final hurdle has been pushed through the media for sensationalism, the government has suddenly felt the pressure to address the situation and prevent a distressing period for movers and businesses throughout the market.

Next Stop

What this means for those looking for buying a property advice or those looking for movement on how to sell a house is that care and consideration for action are being addressed and pushed by both Labour and Conservative parties to continue this boom period and allow everyone to achieve their purchases of homes in this long-winded and ongoing period.

For those looking for homes in the Stockport borough and wanting to sell properties throughout the area, contact the team at Joules estate agents, your number one independent choice for quality homes, advice and every stamp duty update.

Read More