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What does the budget mean for buyers and sellers

Published: 03/03/2021

We were really pleased to hear the brilliant news today following the Government’s budget announcement for people looking to purchase a property or move home this year.

The current stamp duty holiday has been extended until the end of June and following this, there will be, an increase in the zero stamp duty where the threshold at which you currently start paying stamp duty goes from £125,000 to £250,000 until the end of September.  

The stamp duty holiday extension news will be a welcome relief for thousands of buyers who been worried they were not going to complete on their property purchases by the March deadline, not to mention solicitors who have been stretched and peddling very hard to try and get sales completed as quickly as possible.  

Already in 2021 Sowerbys has experienced a busy start to the year with 33% more sales agreed this year compared to the same period last year, demand for properties remains extremely high, our current stock levels of available properties to sell are much lower than last year which is creating a “perfect storm” for sellers as demand is heavily outweighing supply.

Following today’s positive budget news, this year represents a fantastic opportunity to purchase a property or move home. If you are thinking of selling, then this news will only create even more demand for property, so in our opinion now is the perfect time to sell to achieve the best possible price for your home.