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Holidays Abandoned in Favour of Stamp Duty Holiday

House vendors and hunters are exchanging their usual summer holidays for a stamp duty holiday says one of Shropshire’s leading agents.

 

The Phone Hasnt Stopped Ringing!

This summer Balfours has more than doubled the number of properties exchanged compared to July 2019 and seen an 80 percent increase in instructions.  The Shropshire agent performance figures are on a par with Property Mark who says sales for July in parts of the UK hit a 13 year high.

Alistair Hilton, head of sales at Balfours, says that while August is traditionally a quieter month, with many holiday plans changed or abandoned and the exchequers stamp duty holiday, home owners have chosen instead to facilitate their home aspirations.  The final ingredient in the residential market is this year’s turn of events which has allowed people time to reflect on their home, work and lifestyle.”

He continues: “It has been a remarkable turn of events for the residential market, easing out of lockdown in June to the stamp duty bonus in July. However homeowners are mindful that the clock is ticking and it is unlikely to remain the same beyond March 2021.

“Buyers are accepting that they do need to meet the asking price to convert an offer into a sale. Indeed we have seen several properties exceed the asking price as buyers, particularly from away and down south, seek to secure their chosen property and peace of mind that they have achieved at least one positive outcome in a very difficult year.

“The phone hasn’t stopped ringing during the past six weeks: Home owners seeking market appraisals are up by 24 percent, viewings by prospective buyers are up by 65 percent. We have a log of buyers who are keen to ensure they are alerted to homes coming onto the market which match their wishes so that they too can capitalise from the stamp duty holiday.

As an independent local estate agent we pride ourselves on understanding all aspects of client needs, from their forever home to the practicalities of Covid viewing protocol. ”

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