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Sunday, July 25, 2021
Home Articles Stamp duty holiday extended until end of June 2021

Stamp duty holiday extended until end of June 2021

The chancellors Budget is music to our ears, whether you’re buying or selling.

Firstly we hope all of you Harrovians are doing well in these challenging times. I’m sure you’ll agree, we can’t wait to see the back of COVID 19.

While we can’t go abroad just yet, Chancellor Rishi Sunak recently announced another holiday of sorts: three-month extension to the current stamp duty holiday through to 30 June, 2021, at an estimated cost of over a £1bn to the government

After that date, the threshold will fall to £250,000, which means anything up to this amount will be exempt from stamp duty until the end of September this year. A silver lining if we ever saw one.

We have seen an increase in both valuations being booked and buyers registering with us since Wednesday afternoon’s Budget announcement.

Those who felt they may have missedthe March deadline have returned to the market bolstered by the extra four months we’ve now been granted. They’re confident the extension offers sufficient time to make a move, in every way.

Home ownership, a distant dream for many would-be first-time buyers now feels within reach thanks to a brand newmortgage guarantee scheme that Chancellor Sunak also announced.

The promise of 95 – 90% mortgages, backed by the government, means a home of one’s own is finally a real and tangible prospect. We will reveal more details as we get them.

Anyone looking to sell/purchase should capitalise on the current support being provided by the government; much like Covid, they won’t stick around forever.

There are many ways to boost the marketability of your property in order to achieve the best possible price. Here are a few of our ‘Top Tips’ we have to maximise your potential of selling fast:

Presentation – ‘The first impression is the last impression.’ Make sure your property is presented clean and tidy, clear all surfaces, remove clutter, etc. Show off features that first attracted you to the property. Try to radiate a pleasant aroma; a candle or freshly baked bread usually does the trick.
 
PricingTo really speed up your selling process, competitive pricing is key. Overpricing could lead to more time on the market, and you may end up selling at a lower price anyway. Check the typical market rate when working out your magic number.
 
Viewing Feedback Hopefully you’ll get plenty ofconstructive feedback after viewings. Analyse this: what are buyers saying, is there anything I can do to improve my selling chances?
 
Quick fix ups While you may not have time for major improvements, it’s still important to take care of any minor fixes that might deter potential buyers. A fresh lick of paint, fixing loose tiles, repair door handles etc can work wonders.
 

After a hard winter, there are plenty of reasons to fee optimistic. Spring is knocking, lockdown measures are easing, and the Budget is boosting the property market. It looks like we’re set for a great summer!

As always if you wish to discuss any points raised in this article, or you’re just curious about how much your property could fetch, we’re only a call or click away. Contact me, Harsh Shah on 020 8426 0631 or email harrow@hiltonandfox.com