‘The big discussion’, Stamp duty holiday….

Four of our most experienced agents sat down, on camera, live to discuss their thoughts on the Parliamentary debate on a possible stamp duty extension.

Did we agree on it? Er, nope not entirely.

There is one thing everyone agrees with, the holiday has triggered a massive spike in the housing market, and it’s not about estate agents making a quick buck. For every move, a dozen or so people are kept in employment and off of furlough, so whilst it costs the exchequer a fortune in lost stamp duty you won’t find estate agents, mortgage advisors, underwriters, surveyors, movers, decorators, tradesmen etc on furlough right now…. You’ll find them working every hour under the sun! So it has worked so far….

So according to the government all good things come to an end, however those in the debate were majority in favour of an extension. And there are hundreds of thousands who have signed a petition of the same view too. Why? Because there have been delays with a lot of transactions and the market the rush has created has caused problems for people upsizing.

There is a difficult decision then, Pull the plaster off and end things on the original date. Ease the tax back in, extend for another fixed amount of time or, radically, reform the entire system.

One thing the last six months has proved is that Stamp duty land tax is a preventative tax, it prevents movement, ambition and leaves people stuck in property that may no longer suit their needs. The question is, can a better alternative be found by the 31^st of March by this government with everything else going on?

See what Ian, Dan, Sanjay and Mike had to say here:

STAMP DUTY PETITION 4 ESTATE AGENTS TALK THROUGH IT - YouTube

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