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Stamp Duty Deadline is creeping up
Posted on 7/10/20
- With just under 26 weeks of the stamp duty holiday left, even with homes selling 31% faster than before lockdown, sellers only have 10 weeks to list their properties if they want to complete in time.
- According to The Advisory, the average time to sell a property, from first day of marketing to completion, is on average 18 weeks and in a hot market, like today, it can take on average 16 weeks.
- Buyer demand in August was 39% above the same time last year and mortgage approvals saw a 29% annual increase, indicating that there are plenty of buyers out there.
- Although 31st March 2021 seems a long way away, vendors need to consider the time scales of selling homes and act now. Source: Dataloft, The Advisory.