Why the Stamp Duty holiday extension is great news for sellers

Find out more

  • Great news all round for the London property market
  • Stamp duty holiday extended to June in budget 2021
  • Increased buying power means it’s also a great time to sell

The government announced in Budget 2021 that the stamp duty holiday has been extended to the end of June. If you are thinking of selling your property in London, this gives you more time to sell to buyers who can afford a higher price for your property because of this incentive.

What is the “Stamp Duty Holiday”?

This incentive means you can get a better price for your property

Stamp duty is a tax paid when purchasing a property and increases the price of property for the buyer.

The stamp duty holiday means that buyers will pay less or no stamp duty than normal. It was introduced in response to the situation created by the coronavirus pandemic and was due to end in March 2021 but has now been extended to the end of June.

How does the Stamp Duty Holiday make it a good time to sell in London?

Because of the high thresholds values involved, this incentive will be of particular benefit to buyers and sellers in London where property can be more expensive than other areas.

Demand for property is increased

A time-limited incentive always causes a surge in demand for property before the deadline runs out. This extension means that those who thought they were going to miss out or were waiting on finance for a deposit will now rush to try and buy before the end of June.

Sales prices are increased

A stamp duty holiday means that buyers have more money for the purchase price that would normally go on stamp duty. Coupled with the new 5% deposit mortgage scheme announced in the budget, buyers have more to spend on property.

This means that you can get a better price when selling.

Good news all round

This makes it a great time for both buyers and sellers in the property market.

As more of the transaction value stays in the hands of the seller and investor, it means you can get the price you want if you are selling. For buyers and investors, the selling price is more affordable. This makes it a rare win-win situation for everyone involved.

How can Henry Wiltshire help me gain from this demand spike?

As this is a time-limited government incentive, we are ready to move quickly to help you beat the extended deadline. Henry Wiltshire are property experts with offices across London.

Call us today for a free valuation to see how much you could achieve.

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