Stamp duty changes cause stampede in property enquiries and sales

Published

The number of registered buyers have grown in December according to the National Association of Estate Agents (NAEA) Housing Market Report. Stamp Duty reforms seem to be a key factor behind the surge in the number of property enquiries which is at a 10-year high.

Property sales, especially within the £250,001 and £925,000, have seen a significant increase. 19 per cent of estate agents have seen an increase in sales for property in the £250,001 – £925,000 range and 11 per cent of estate agents have seen an increase in sales for properties valued up to £250,000.

The Stamp Duty reforms that were announced by George Osborne in the Autumn Statement seem to be good news for people buying property valued at below £937,000 as the majority of those home buyers are set to enjoy a decreasing Stamp Duty bill. A reduction in something as costly as Stamp Duty is a good thing as the cost of moving house has been steadily increasing over the years.

 

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