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Stamp Duty holiday extension under review

Stamp Duty holiday extension under review

Stamp Duty holiday – is a 6 week extension on the cards?

Here at Beadnall Copley Estate Agents we’re keeping our fingers AND toes crossed that Chancellor Rishi Sunak will confirm an extension of the current Stamp Duty holiday – as reported in last weekend’s Daily Telegraph and Sunday Times – with an extension period of 6 weeks apparently now being considered by the Government.

Our branch offices in Harrogate, Ripon and Wetherby have been kept very busy since lockdown restrictions were first lifted for estate agents back in mid-May, with sellers and buyers re-evaluating their lives, reflecting on whether their current home was still suitable for their needs moving forward and many making live-changing decisions in the process.

This led to an immediate surge in demand for property which was then increased further by the Government’s announcement that the first £500,000 of a house purchase would be Stamp Duty free for purchases up to 31st March 2021.  When this was first announced in early July the end of March deadline seemed a lifetime away but here we are in February already and with plenty of sales still going through we hope a little extension will be of real benefit to our buyers at Beadnall Copley.