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- 9th March 2021

Stamp duty holiday extended

Chancellor Rishi Sunak confirmed on Wednesday 3rd March 2021 that the “nil-rate band” for properties up to £500,000 will now finish at the end of June 2021, instead of March 2021. This covers a large proportion of houses and flats in the UK, with the average home in the UK selling for £253,374 based on December 2020. It was also announced that until 30 September 2021, no stamp duty will be charged on a residential property bought for up to £250,000.

We have seen how incredibly effective the stamp duty holiday has been in supporting the market through these challenging times as we received a dramatic increase in enquiries at our developments, following the first stamp duty holiday announcement in July. The news this has been extended will allow more time for existing property deals to be completed, which will come as a relief to many on the property market