More than 500,000 buyers will have benefited from the stamp of …
According to the latest research, more than 500,000 homebuyers in England are expected to benefit from the £ 3.4 billion stamp duty holiday.
Comparison website GetAgent analyzed land registry transaction data to see how the market has already performed between the launch of the stamp duty holiday and the original March 31 deadline.
The site then also estimated what the continued impact would look like as the clock finally expires on the initiative, which ends on September 30.
Data suggests that since the introduction of the stamp duty holiday, an average of 1,508 homes have been sold each day. And of the 539,972 transactions that are expected to close between July 8 and the last extension of the June 30 deadline, 84% will pay no stamp duty, with the total market economy expected to reach nearly £ 3.2 billion. sterling.
In addition, 138,764 additional homes are expected to be sold between the further extension of the deadline from July 1 to September 30 of this year.
Although the stamp duty exemption threshold has been increased from £ 500,000 to £ 250,000, it is estimated that 45% of all transactions will remain stamp duty free with an additional saving of £ 250,006,781.
In total, the full stamp duty holiday is expected to see around 76% of all homebuyers paying no stamp duty, with the total savings reaching over £ 3.4 billion.
GetAgent Managing Director Colby Short said: “There is no doubt that this has been a factor in creating the current market bottleneck which has seen many topics experience long delays in the process. transaction. However, there is no doubt that a large number of home buyers have taken advantage and many more will continue to do so.