Would a stamp duty cut tomorrow make the market busy again?

[nellytheelephant1980]

I feel like we will never sell our house at the moment. We've had a lot of viewers and an offer but none of them are able to proceed as they haven't sold.
Would a stamp duty cut help stimulate the market?
Our estate agent is so negative. I said about it and he said it'll be outweighed by the increase in interest rates.

Is it on at a sensible price? Round where I live there is a house on the market for 1.1 million whereas one year ago that same house would have been £500k.

Yes it is - we've accepted an offer on it but they haven't sold.
Definitely not over priced.

That's mad btw!!

I know! Makes me cross!

I hope so as we have been on 3 months and had 2 offers fall through - change in circumstance, one found another property they preferred. Desperate to sell!

Stamp duty cut stimulated the housing market last time but interest rates are up. Many are on a fix and can port their mortgage though.

The suspension of stamp duty got the market all excited during the Covid crisis but that was only because it was for a limited time only so people felt they had to buy quickly or lose a good deal.

I agree with the EA, they are doing it to counterbalance the interest rates somewhat but it's still an expensive time to borrow.

I wonder if they will target downsizers as many say it puts them off l moving.

Also prices did drop at the beginning of covid, then the rush pushed them sky high. I know a few people who were planning to buy but with interest rates as they are & cost of renovations they are lowering budget.

"Expensive time to borrow" ? LOL, it is one of the cheapest times in history to borrow, and that time is coming to an end, the only outcome now is that house prices start coming down. SD cut now is like standing on the beach as a tidal wave washes in, total waste of time, they should just make the seller pay it and be done with mucking around IMO.

it's expensive with house prices as they are....