Rishi Sunak’s Budget announcement this month brought good news for a buoyant property market with the extension of the Stamp Duty holiday. But what’s the impact on agents? And how can property sales management software help?
It’s easy to see the positive effect that the Stamp Duty holiday has had on the property market. SDLT has been suspended on the first £500,000 of all property sales in England and Northern Ireland since July.
And this boosted enquiries and transactions to agents, to reverse the initial dip during the first COVID-19 lockdown.
Rishi Sunak announced his Budget in the House of Commons on 3 March 2021
UK property transactions hit a ten year high in January 2021 as buyers scrambled to complete before the holiday was due to end on 31 March and house prices are now at a four-year high, according to the Zoopla House Price Index.
The short-term effect on the market has been overwhelmingly positive.
However, the effect on estate agents is not as easy to record.
Record numbers of transactions and a frantic scramble to complete only served to add inevitable pressure to teams who are already working around the challenges of social distancing, remote working and the risk of staff absences.
Then, with less than a month to go until the 31 March deadline, the Chancellor confirmed that the Stamp Duty holiday had been extended until 30 June.
This is inevitably good news for the industry. Experts predict an extra 300,000 transactions in England could benefit by the end of June. It does, however, mean agents can expect another ‘tidal wave of transactions’ as we approach the new deadline.
So, how can you prepare? Alto’s software is packed with features to drive efficiency and improve accuracy, supporting sales agents as they enter another inevitably busy period.
From real time communication through PropertyFile integration, to automated email and letter templates at key stages of the transaction, we’ve created a system built for busy agents.
Of course, sales progression will be key in the coming months. Here’s now Alto helps:
Want to know more? Discover the features and benefits of Alto property sales management software.
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