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Sell My House Quickly found another interesting article about properties in Birmingham. Stamp duty holiday end date – when is it and what’s best time to buy a house? What does the end of the stamp duty holiday mean for the property market in 2021?
The stamp duty holiday is coming to an end – but what exactly does that mean when buying a house?
It was in July 2020 that Chancellor Rishi Sunak announced a temporary stamp duty holiday that cut the rate to zero per cent for all properties sold for £500,000 or less.
But that comes to an end on July 30, 2021, with stamp duty set to return to the normal rates in stages before the final deadline at the end of September.
But what will the end of the Stamp Duty Holiday mean for the property market – and when is the best time to buy a property in 2021?
Ross Counsell, chartered surveyor and director at property buyers GoodMove, has shared his thoughts on the stamp day holiday, how it’s contributed to higher property prices and his predictions for the year ahead.
When does the stamp duty holiday end?
The stamp duty holiday, in its current format, will come to an end on June 30.
Following this, there will be a staggered reduction from the original threshold of £500,00 to £250,00 until September 30.
On October 1, it will return to the previous level of £125,000.
The stamp duty holiday has been a catalyst to the massive boom in the property market and increase of house prices, with more people rushing to buy a property while the holiday is in place.
We found this article on Business Live. Kindly click the link to read the full story.
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