call-to-action call-to-action-mobile

End of stamp duty does nothing to dampen the appetite to move home

Mon 19 Jul 2021


The desire to move house for more space is greater than the enthusiasm to save money on stamp duty, according to Leamington estate agency ehB Residential.

The comment follows the release of figures from property portal Rightmove which show that 49% more sales were agreed in May than they were in the same month in 2019.

The statistics, which refer to homes priced at more than £500,000, underline the agency’s conviction that the end of the stamp duty holiday is showing no signs of dampening a buoyant market.

“The fact is, if people were only moving because they could save thousands of pounds on stamp duty, they would have stopped putting in offers a while ago,” said ehB Residential office manager Clive Thompson.

“People have been agreeing to buy properties in the full knowledge that they will be presented with a bill of more than £12,000 or £15,000 in stamp duty. Previous rumblings had been that the boom in sales was driven by the carrot of a stamp duty holiday.

“That is clearly not the case now. If people need more space, a change in stamp duty isn’t going to mean they can suddenly make do with what they have. Their needs will remain the same, regardless of what, in the grand scheme of things, is an overall small saving.”

UK-wide, according to Rightmove, the higher end of the market has seen a 12.3% price rise since the beginning of the pandemic, with prices across the board rising by 7.5%.

“Because there is such demand for properties offering more indoor space or decent gardens, people looking to move really need to be ready to jump as soon as something suitable comes up,” said Clive.

“Unless a potential buyer’s home is on the market and under offer, unfortunately he or she won’t be in a position to have an offer accepted, as those already in a position to proceed will be more attractive to the vendor.

“This may seem quite a leap of faith, but as we are a mature and very experienced team here at ehB we’re able to find patient buyers for your smaller property who are happy to wait a little while you look out for your next move up.

“The phrase the early bird catches the worm has never been so apt.”

 

Contact ehB Residential on 01926 881144 or at info@ehbresidential.com to book a valuation.

"We have found EHB really good to work with - you have all been very proactive on our behalf, and provided good down to earth advice. Your documentation in the booklet and the plan of the house was exemplary. This is in contrast to the more expensive and more national company dealing with our purchase. We would strongly recommend EHB to anyone wanting to sell their property in this area."
Mike and Tina

News Archive

May 2024

Now Is The Time To List Your Rural Property For Sale!

March 2024

Selling And Buying A House With ehB - A 2024 Market Update

February 2024

Making Your Move - Why Some People Choose To Move House

January 2024

Moving House in 2024 - Your Next Chapter with ehB

December 2023

Navigating The Current Housing Market

November 2023

Thinking of Selling in 2024

October 2023

Thinking Of Moving To One Of The Best Places To Live In The Midlands?

September 2023

Why ehB Should Be Your Top Choice For A Leamington Estate Agent

August 2023

Now Is The Time To List Property!

July 2023

Hoping To Be Moving House Before Christmas?

June 2023

Town Centre Living Is Back!

May 2023

Is It A Good Time To Sell A House?

April 2023

When Is The Best Time To Sell A House?

March 2023

Why Is Demand For Property So High In Leamington Spa?

February 2023

The Property Market Is Stabilising

November 2022

Two long-established names in Warwick estate agency join forces as ehB buys Donald Carter

October 2022

What’s Going On With The Housing Market?

Low unemployment bolsters market

August 2022

What's Happening with the market in August

June 2022

Houses for sale in Leamington are being snapped up.

April 2022

How to Get the Very Best Price for Your Property

March 2022

Spring housing market shows no sign of cooling, as ehB Residential reports continuing buyer demand

January 2022

Homebuyers likely to ‘go for it’ in the New Year, says ehB Residential

December 2021

ehB Residential calls on sellers to capitalise on Boxing Day Rightmove boom

November 2021

Hesitant home sellers urged to take advantage of less competition as Christmas distracts fellow vendors