Prices to slow but not drop

With the end of September here we are seeing the end of the Government stamp duty tax holiday on property purchases. The scheme, introduced last year as a stimulus to the property market, allowed purchasers a reprieve from paying stamp duty land tax at differing trigger points of value.

October 1st 2021 will see rates reset to pre-holiday levels, with the duty introduced at properties sold above £125,000 and increasing once prices reach £250,000. First time buyers are still stamp duty exempt if their property is below £300,000.

What the high levels of demand and activity, coupled with the motivation of the stamp duty holiday, have led to has been a sharp increase in property prices across the country. The big question is what happens from here?

People have known the end of the stamp duty exemption has been racing up on us for a while, yet the demand for new property has not abated. If anything, the rarity of a sufficient level of stock has led to even more competition for available property.

Forecasters are expecting price levels to maintain after the stamp duty holiday with lack of stock and a desire for more space post Lockdown two of the main driving factors within the market. An increasing amount of available property is once again coming to the market, which is likely to see a slowing of price increases.

Demand is still there for new property and if you are thinking of moving house or selling your home why not come and speak to us about your local market.

You’re in safe hands

Trust our team of local experts to provide the best advice on a wide range of legal and financial issues whenever you’re facing a life change and need the best support.

0800 389 2939

Our team are available Monday to Friday 9am - 5pm

Find Your BranchMEET THE TEAM

She'll be glad you planned ahead

Organising your finances today, while planning for the future can be a challenge. We’ll put the kettle on – and take the pressure off.

GET EXPERT FINANCIAL ADVICE

You'll know when it's time to talk

From making a will, to matters of business law our qualified solicitors can offer advice and guidance. Pop in for a chat or call us to make your free appointment.

GET EXPERT LEGAL ADVICE

Sign up for our newsletter

Your details

Signing up to our newsletter will place you on our weekly property guide, providing you with the latest properties for sale and industry news.
You can unsubscribe at any time. We value your privacy and will not share your details.

© Poole Townsend 2017 - 2021. All rights reserved.
Poole Townsend solicitors Ltd (Company no:10964550) is a company registered in England and Wales with its registered office at 69-75 Duke Street, Barrow in Furness, LA14 1RP. A list of directors is available at the registered office address. Authorised and regulated by the Solicitors Regulation Authority number 647087. We are independent financial advisers authorised and regulated by the Financial Conduct Authority. VAT registration number :154365563.

Poole Townsend Estates Ltd. (Company No: 10960705) is a company registered in England and Wales with its registered office at 69-75 Duke Street, Barrow in Furness LA14 1RP. A list of directors is available at the registered office address. Regulated by the Council of Licensed Conveyancers to provide Conveyancing services. (Firm no: 3438) VAT registration number 288092466. Our Estate Agency is a member of the Property Ombudsman scheme.

Poole Townsend Estates Ltd Property Client account has client money protection, to view our Client Money Protection Certificate please click here. To view our Equality and Diversity Data please click here. The Propertymark Conduct and Membership Rules can be found here.

Professional Indemnity Insurance – please contact Martin Oates at the address above if you require details of cover held.

Registered with the Information Commissioners Office for data protection purposes (ICO No: ZA494153 & ZA331395)

close

Book Your Free Valuation

Fill out the form below and we'll get in touch to arrange your free valuation.

Your Details

We value your privacy and will not share your details.

Top