Property warning: Lockdown sees sellers halt sales but buyer demand remains high

The stamp duty holiday deadline falls on March 31, 2021 and has not been extended past this date.

There have been calls for the Government to extend this deadline and even scrap the property tax all together.

However, there is yet to be any news from Chancellor Rishi Sunak on whether or not this will happen.

Currently, there is a huge backlog of transactions compared to this time last year due to the SDLT holiday.

According to Zoopla, there is a risk that up to 70,000 sales agreed in 2020 could miss the SDLT holiday deadline.

It’s not clear how many sales and chains are dependent on the SDLT savings.

Richard Donnell, Research & Insight Director at Zoopla, said property market “momentum” from last year has continued into 2021 despite lockdown.

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