Will removing stamp duty on new purchases encourage you to buy or sell a property?

[cabinbythelake20]

Just pondering..

I am a first time buyer looking to buy our first home in the North West.

We would be exempt from stamp duty anyway for houses up to £300k. This is around our budget so it is unlikely that it will benefit us.
However; I am wondering whether it may increase those that are wanting to size up and therefore; there may be more houses for us to select from to purchase.

I am also wondering whether if you are selling you are going to increase the price slightly to compensate this? (knowing buyers no longer have to pay stamp duty!)

What are your thoughts, do you think it will help the market to reignite again? Has it encouraged you to buy or sell a property?

We were looking to buy this time next year with a budget of around £450k.
Provided prices don’t rise in the short term, we’ll definitely be looking a lot sooner as we already have a good amount off money saved. Although it’s only roughly a £7k saving, that will go a long way to furnishing a new house as we plan to move from a 1 bed flat to 3 bedroom house.

We were planning to start looking in September for a new home (cost about a 900k-1million). We may start moving up plans if something good comes on the market. It saves us about £15k which would be really useful if it needs a new bathroom or kitchen etc

We are very seriously considering putting our flat on the market. It’ll fetch around 290k but we’d be looking at 500k for the next place and we really want to move as DC1 is due. We weren’t planning on moving until next year but the stamp duty saving is too good to turn down so organising viewings around a newborn it is 🙈🙈

very interesting! Looks like their may be more houses for sale over the next couple of months!

I am assuming the posters above are living in or close to London!

We've wanted to sell a flat for a while now and this tips us into definitely over maybe.

I think it will help lots of people- sellers and buyers. The amount you'll "save" would cover your surveys, legal costs, estate agents fees etc, possibly even the removal costs depending on distance/house size.
Seems like a positive for everyone except the treasury.

We’re already on the market. We’ve got lots of viewings booked. We’re looking but every property we’ve tried looking at the EA has said the owner only wants people who are already sold to view the property.

Yes. We had intended to put our house on the market this time next year, but we have booked the estate agent to come round on Monday to value our house.

We've made around 100k on our house, and our budget is around 400k, so the stamp duty element is a big saving.

We were planning on moving this year but plans put on hold because of COVID. So this news has made us think it would be worth trying to move this year instead of waiting til next year. It would save us about £6-7k. There is talk that house prices will increase as a result, but hopefully means we get more for ours too.

We wanted to move in the next two years but not yet, however I think this will prompt us to get ours valued and potentially on the market. It's a big saving for us so potentially worth doing earlier than planned.