Research shows buyers aim to beat stamp duty deadline

December 20, 2024 by Alan

Surveys and Statistics

The latest research looking at the housing market indicates that the festive period is still busy for purchases, as buyers try to get deals over the line ahead of the stamp duty deadlines.

This research comes from Lomond, a property group, and it points to a hectic winter and early spring. The company surveyed those who are planning to buy a home and the results show that 93% want to get the deals completed by the end of March. That is when the thresholds for stamp duty relief return to their standard levels.

It was made clear by the majority of respondents that this was their main motivation for completing purchases before that date. The Christmas period is usually a slow one for the housing market, so this one is set to be atypical.

No less than 82% of those who took part in the Lomond survey stated that they would go on searching for a home right up until Christmas. A further 74% indicated that they would use the period from Christmas to New Year for property searching. Meanwhile 71% said that they would have waited if the stamp duty relief had been extended.

Ed Phillips from Lomond told Mortgage Introducer that:

“For those looking to sell now is certainly the time to do so in order to take advantage of the influx of motivated buyers looking to make their move by spring.”

It will be a busy festive season for those with CeMAP training, but few will complain about that.