Stamp Duty Holiday Extension

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Stamp Duty Holiday Extension

In this short article we take a quick look at the time it currently takes to get a property sale completed with the new stamp duty deadlines in mind

The Chancellor announced a stamp duty holiday extension, offering buyers in England and Northern Ireland a discount of up to £15,000 until 30th June 2021, and £2,500 up to 30th September 2021.
In Wales, no land transaction tax will be due on the first £250,000 of any primary residential property until 30th June 2021. In Scotland, the stamp duty holiday has not been extended, finishing at the end of March 2021.
According to Zoopla, the average time for an agreed sale to complete has increased from 90 days to 110-115 days. For sales to complete by 30th June, most will have needed to be agreed by now. To complete by 30th September a sale needs to have been agreed by 7th June 2021.
Source: Dataloft, Zoopla

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