SDLT holiday effect may not be as large as first thought

Knight Frank believes that the stamp duty land tax (SDLT) holiday hasn’t been a huge motivating factor in people moving over the last 9 months. 

Using data supplied by OnTheMarket, the agency revealed that there was only a 30% rise in the number of properties going under offer in England and Wales compared to the same month last year.

Knight Frank said:

“The stamp duty holiday has been an important motivating factor for buyers but the figures show that it hasn’t boosted activity to a greater extent in lower-value markets. The maximum saving is £15,000 and although the tax-free threshold is £500,000, it is reasonable to assume it will be an important consideration for buyers up to £1m.”

This sentiment has been mentioned in the sector before, but as a stimulus the SDLT holiday has helped to add a little extra incentive to some of those wanting to move.

Jennifer van Deursen

Jen is the Senior Media Officer for Today’s Conveyancer, Today’s Wills & Probate  and Today’s Family Lawyer.

Having gained a degree in Multimedia Computing, Jen fell into a content role after successfully applying for a job at Cheshire Police. During her 6-year service, she took on the role as personal Press Officer under the first Police and Crime Commissioner for Cheshire and worked in the busy press office for the force.

Jen has experience in the marketing and communication sphere, which stems from her time in the public sector, private care sector and now here at the Practical Vision Network, where she can utilise her skills and challenge herself further.

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