The stamp duty thresholds have changed again, marking the end of the initial stamp duty holiday for homes over £250,000.
This time there will be no extension beyond the final deadline on 30th September. But there’s also no need for estate agents to worry. Here’s why.
While buyer demand moderated as the 30th June deadline approached, market activity is still high compared to ‘normal’ levels last seen in 2019.
In fact, Zoopla’s most recent House Price Index Report showed that demand continues to be fuelled by a combination of factors. Not least the stamp duty savings still on offer for buyers of homes worth up to £250,000.
This includes the growing range of mortgages available again to first-time buyers, as well as the ongoing ‘reassessment of home’ and ‘search for space’, as homeowners continue to rethink their lifestyle.
Despite the end of the initial stamp duty relief, there are still some buyers who will still benefit.
Remember, the threshold at which stamp duty is paid is now set at £250,000 until 30th September. Then it will drop to the pre-pandemic level of £125,000.
This timeline gives a window of opportunity for buyers of properties under the threshold to take advantage of savings of up to £2,500. And savvy agents should grasp this chance to bolster sales over the coming weeks.
It’s also important to note that there is still lots of activity from first-time buyers who can buy a home priced up to £300,000 without having to pay any stamp duty at all. This will continue to be the case, even beyond September when the tapering comes to an end.
There’s no question that the stamp duty holiday has had an impact. But with market activity still at a record high, it’s now more important than ever that agents are adequately prepared.
This includes choosing the right property sales management software to make sure you’re on top of your property portfolio and marketing, so you can match the right buyers to the right properties. Quickly and efficiently.
Here are just a few ways Alto can help your agency do just that:
Our cloud-based property management software offers instant matching, with the results of matching properties showing as you change criteria, saving you and your customers valuable time.
With instant matching, there’s no need to ‘search’ or wait for results. Simply update the applicant’s details and the advanced filtering will allow you to fine-tune your properties to the right prospects.
Helping to ensure you reach the right target audience using the best channels, our software comes with a host of tools to promote properties more effectively. These include:
Want to find out more ways Alto can help you prepare for a busy market? Explore all the features and benefits of Alto’s cloud-based property management software