UK Property Frenzy as homebuyers make the most of SDLT holiday

Sunny days and daffodils usually mean an annual spring property frenzy and the incentive of the stamp duty relief scheme has undoubtedly ensured that this year will be busier than ever for our Conveyancing Solicitors.  With the extension of this scheme until September there’s arguably no better time to start planning your next house move.

Life after lockdown is beckoning, we’ve had a mini heatwave and even a wintery weather forecast over Easter will not deter the avid homebuyers.

UK Property Market

Rightmove is reporting huge surges in website traffic, with 9 million potential homebuyers searching online one day last week for their dream home or property investment and there were 8,000 reported sales in one day.

“The stamp duty holiday, with a maximum saving of £15,000 has helped to keep the property market buoyant after the initial lockdown in 2020 and we have been busy getting clients into their new homes ready for the bank holiday,” said Gillian Hawley, conveyancing executive at Pearson Solicitors in Oldham.

People always seem to want to move at holiday weekends as it gives them time to unpack and enjoy their new home.

“There have been reports of long wait times for searches but things do seem to be turning around in good time now and and it’s great news that the first £250,000 of your new property is nil rate until 30 September. As such, even if you haven’t found a property yet there’s still a chance to make the most of the SDLT holiday,” added Gillian.

It does seem that sellers are returning to the marketplace, perhaps making the most of advertising much-longed for outside space with the arrival of spring. Whilst the stamp duty holiday is a key property driver nothing can beat the kerb appeal of a well-kept garden, especially when we’ve been in lockdown for months.

For advice on your next property move or to chat to the team about buying or selling your home call Pearson Solicitors Residential Conveyancing team on 0161 785 3500 or email enquiries@pearsonlegal.co.uk

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Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

This blog was posted some time ago and its contents may now be out of date. For the latest legal position relating to these issues, get in touch with the author - or make an enquiry now.