The UK Government has today announced a stamp duty holiday for all residential properties under £500,000 in a quest to kickstart the currently stalled residential property market as the country gradually comes out of lockdown. This new policy has come into force immediately and will be applicable until the 31st of March 2021.
Rishi SunakChancellor of the Exchequer
Today’s announcement is just one of many initiatives put in place as part of a mini emergency budget which was announced today (Wednesday 8th of July) by Chancellor Rishi Sunak to help rescue the country out of a post-pandemic recession.
Despite property transactions seeing a 50% fall in May and the first decline in property prices in eight years, Anthony Martin Estate Agents have continued to see a substantial number of enquiries for both sales and lettings right through the lockdown.
Anthony Martin, CEO of Anthony Martin Estate Agents comments: “Our teams have been working incredibly, and despite it being a lot more challenging, we have continued to complete on sales and lettings, i'm pleased to report we have been booking over 500 viewings each month - in a COVID safe fashion of course!
This stamp duty holiday is welcomed by our buyers and sellers, many of whom have been holding off moving or buying their first home in the hope of an announcement as such.
First-time buyers purchasing homes up to £300,000 have been exempt from stamp duty for some time, but now this benefit is open to everybody, giving many families who learnt in lockdown that they needed more space, the opportunity to upsize.”
Anthony Martin Estate Agents, who have been serving Kent and London for almost ten years have offices in Dartford, Swanscombe, Barnehurst, Bexley, Bexleyheath, Locksbottom, Meopham and Mayfair. Due to an increase in demand for properties outside of London, Anthony Martin Estate Agents has also recently opened an office on Hanover Square, Mayfair, to support those looking to relocate.
As well as using property search portals such as RightMove and Zoopla, Anthony Martin Estate Agents has also invested in a bespoke, high-end website which provides a user-friendly website for their customers to view all available properties to buy and rent in London and Kent. An integrated property feed also means that each property on the website is available for interested parties to arrange a COVID-19 safe viewing with their local branch.