Thu 09 Jul 2020
The flood of house sales and new instructions which erupted in the initial post lockdown phase is likely to continue, thanks to yesterday’s stamp duty holiday announcement, believes ehB Residential.
Chancellor Rishi Sunak has announced that with immediate effect until March 31 2021, buyers will pay no Stamp Duty Land Tax (SDLT) on the first £500,000 when they move home. The government says this means nearly nine out of ten people starting on or moving up the property ladder will pay no stamp duty at all.
ehB Residential MD Edward Bromwich is, understandably, delighted at the chancellor’s swift and decisive action, which is aimed at boosting the housing market and stimulating the economy.
“Our phones have been ringing off the hook since house viewings were allowed from mid-May,” said Edward. “And we’ve had a record month this June and are expecting another bumper month in July.
“Our diary is very, very full indeed with new valuation appraisals, new listings and most importantly viewings leading on to sales!
“Although the initial surge of interest has been extremely encouraging, this latest announcement will give extra confidence that now is a good time to sell and to buy.
“It means those who are teetering on the brink and considering putting their homes on the market can be confident that there is pent up demand out there.
“And those looking to make a move – perhaps because of changed circumstances – know there will be not only a wider choice of properties but also that the overall cost of moving will be considerably lower between now and the end of March next year.
“Not surprisingly, many of those looking to move are after a home office, a garage for their children to use as a playroom, a bigger garden, or a different environment. As working from home is likely to continue some way beyond this current Covid world, many realise a different set up is essential not just for now, but for the long term.”
"It has truly been a pleasure dealing with your colleagues who assisted in our purchase of 23 Beverley Road and the sale of 39 Brookhurst Road. This customer experience (including when we purchased 39 Brookhurst Court last year) has undoubtedly given us the confidence to approach eHB for our future real estate needs. We would like to express our sincere gratitude to Clive, Juliana, Chris and Louise. They were polite and courteous and we were very pleased with the level of professionalism and strong work ethic that they demonstrated at all times. In our experience, we found eHB working to a very high standard of customer care and this, we believe, is the key differentiator that must be maintained by successful companies in a competitive market. Clive, Juliana and Chris invested time in learning about our particular needs and they impressed us with their strong dedication to customer service. Their relaxed and informative style gave us the confidence that our sale and purchases were in safe hands from the outset and, of course, we are totally happy with the outcomes. In particular, they were diligent and meticulous in their approach and we found this to be very reassuring indeed. Your colleagues did an excellent job. We would be grateful if you could convey our heartfelt thanks and appreciation to Clive, Juliana, Chris and Louise. Well done! Kind regards Mushy & Laraine "