Property Completions up 85% in June to Beat Stamp Duty Deadline
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Completions for residential properties in June 2021 compared to June 2019 were 85% higher, according to the Landmark Information Group.
Buyers rushed to complete their purchases before the Stamp Duty Holiday deadline on the 30th June to avoid increased purchase costs, putting massive pressure on conveyancers to conclude sales so their clients could take advantage of the cost savings. This was a much higher volume of completions compared to the original deadline at the end of March, which saw a 66% increase before the scheme was extended to the end of June by the Chancellor.
Stamp Duty Holiday Tapered Extension
The Stamp Duty holiday with a nil rate band up to £500,000 concluded on the 30th June with the nil rate band now standing at £250,000 until the 30th September.
This is likely to mean that the buyer demand for properties over £250,000 will slow down from previous levels, however, it will be marginal as there are still major factors that are causing people to reassess where they live and how they live.
Stamp Duty Paid on Your Buy-to-Let Property Purchase
Cardinal Rise in the popular city of Liverpool has one bedroom apartments available from just £132,000 and even better, the developer will pay the Stamp Duty Land Tax for you.
Click here to find out more about Cardinal Rise Liverpool buy-to-let property investment.
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