Stamp Duty cut is welcome news for the housing market, says Connells
08 July 2020
SDLT removed for homes under £500,000
Connells estate agency welcomes the recent changes to Stamp Duty Land Tax announced in Chancellor Rishi Sunak’s Summer Statement.
The announcement means that stamp duty has been removed with immediate effect for all homes under the value of £500,000, benefiting nine in ten homebuyers and saving £4,500 on the average purchase, set to last until the end of March 2021.
“This is certainly positive news. The changes and significant savings for homebuyers will help to kick-start the housing market, making now a great time to sell your home,” says Group Estate Agency Cheif Executive, David Plumtree.
“After three months of lockdown, this will inevitably help stimulate further confidence for many buyers including first-time buyers and those looking to upsize or downsize,” continues David. “With a lot of pent up buyer interest, we’re keen to assist as many home-movers as possible to take advantage of this change. Do get in touch to discuss how we can help with your home moving needs.”
If you have a property to sell and would like to book a free market appraisal with Connells, please contact your local branch.