If the idea is to kick start house sales then this is certain to do the trick. There are plenty of buyers around, enjoying low interest rates too, but stock is woefully low, with 15% fewer properties available than this time last year. This boost will encourage people thinking about moving to do so immediately, as the concession expires in March 2021.
This additional activity will in turn generate knock-on sales and inspire even more confidence in a market that has come out of lockdown with only slight bruising. Indeed, before the SDLT concession was announced, over 85% of movers said they still planned to move, despite the effects of the pandemic. The survey of over 2,000 movers was conducted by Zoopla, who also predict that annual house price growth will hold at around 2% over the coming months as a result of renewed demand and overall activity.
What will happen as soon as the SDLT holiday comes to an end is yet to be seen, but hopefully it will coincide with people coming to terms with lifestyle adjustments and being able to make longer-term housing decisions. Rightmove has already reported that over 12% of movers are actually doing so as a result of virus-related living/working changes.
But for the time being, if you are considering moving up, moving down, moving on or moving out, there will be no better time than right now to do so. And that’s not just bullish agents’ speak - this is exciting!
Do let us help you quickly and safely bring your property to this fantastic market and help you secure the very highest price. Put us to the test and call us on 01925 222555 today. You might be pleasantly surprised!