The RACE is on to beat stamp duty and at Whites we believe it’s a great time to sell your house!! Tuesday 06th October 2020

The RACE is on to beat stamp duty and at Whites we believe it’s a great time to sell your house!!

At Whites our sales department has been incredibly busy.  Last week alone in one day alone we agreed 7 sales! The pent-up housing market caused by spring lockdown meant that many movers were desperate to sell their own property and move on.  In some cases this is looking for a property with more outdoor space and in others a dedicated home office, giving them essential room to work at home.

We have also seen trends of people moving from busy cities to leafier locations, where not only can they achieve more space, but also better value for money. This has been great for places like Salisbury and surrounding villages such as Tisbury, with their wide range of amenities available on your doorstep. City movers will often find that larger villages and small towns like these provide a better step from living in places like London or Birmingham, to that of a small rural village.  Saying that though, the lure of village life has been hugely apparent and according to Rightmove stats “this has led to agents finding buyers for more homes so far this year, than for the total achieved across the whole of 2019”.

The government’s introduction of a temporary Stamp Duty Holiday from July 8, until March 31st 2021 has also added to the market frenzy, with an added incentive for people to sell and buy residential homes under £500,000. According to a statement from HM Treasury it says house sales rose 15.6 per cent in August. The Treasury calculates the holiday means 9 out of 10 buyers will pay NO SDLT at all, with an average saving of £4,500.

The property market has gained strength whilst the lending market has not. The number of products available are getting smaller and the self employed and first time buyers are finding it particularly hard to find a sensible mortgage. At Whites, we have found some mortgage solutions are available, but one just needs to seek that little bit harder! The conveyancing process is taking a lot longer because solicitors are being flooded with new transactions and council searches are taking twice as long due to staff shortages.

But, what about the recent governments announcements regarding further lockdowns and control, I hear you saying? Well, at Whites we believe that with the government now encouraging home working to continue to at least the Spring, more than ever people will be striving for a home to suit their needs in beautiful Salisbury and surrounds!

To conclude, at Whites we feel it is a great time to sell your house! So why not, give our expert agents Tony and Matthew a call and book a FREE market valuation. Simply call 01722 336422.  

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