It seems like the last month or two has centred around additional payments for the privilege of buying something from someone. Donald has been making headlines across the world and we are all familiar with the term ‘tariffs’ even if most of us don’t fully understand the entirety of what is happening. All we know is that we are waiting to see how the world reacts and whilst, at the time of writing, everything is on hold (except for some one-upmanship with China) we wait to see how a variety of markets react.
What we can relate to within the property market is the reintroduction of the lower level of stamp duty land tax and those who keep an eye on the market, or even read these Property Talks, will know is that we have been waiting to see how this reintroduction would affect the property market.
As we have reported previously there has been a huge upturn in property completions which we have successfully navigated at the end of March as the deadline approached. Poole Townsend have experienced record breaking numbers across all of our offices with buyers and solicitors alike hurrying to finalise a purchase before the 1st April deadline.
What wasn’t quite as certain was the response by the market after this deadline had passed and the effect on the property market. Well we are happy to report that there has been no drop off in market activity and, if anything, we have seen an increase in properties being marketed and sold.
Thankfully the stamp duty deadline has coincided with the Spring market and the annual upturn in market activity. As predicted the addition of the lower stamp duty, although a financial nuisance, has been taken in stride as we return to the pre-Covid stamp duty arrangement. Diaries are again full with valuation appointments and viewings and sales numbers are rising with Poole Townsend once again leading the field in their respective area.
If you think it’s the right time of year to sell your home or just want to discuss your local property market why not contact us and we will happily help you through the process.