Marketing milestones to maximise price
- 9th March 2021
- Selling Property News
Sellers should act by month end to take advantage of Stamp Duty extension
Homeowners wishing to sell their property need to put it on the market by the end of March to benefit from the Stamp Duty holiday. Chancellor Rishi Sunak announced in the Budget that the Stamp Duty holiday, which was due to end on March 30th, will instead continue until June 30th enabling buyers to save up to £15,000 on properties worth up to £500,000.
From July 1st to September 30th Stamp Duty will only be levied on properties that are worth £250,000 and above. After this, Stamp Duty will be charged on properties of £125,000 and above.
Research from Rightmove shows that the average time taken to find a buyer in the UK is 65 days. After an offer is accepted, the average time taken to complete is a further 126 days. However, in London’s dynamic market, with its aspirational buyers and motivated sellers, this is cut to just 24 days to identify a purchase and 110 days to exchange. This represents a 133-day turnaround compared to 183 days for the UK generally.*
In order to take advantage of the Stamp Duty holiday, those who are considering putting their house on the market should do so as soon as possible, to give themselves the best chance of finding a buyer quickly and selling at the maximum market price.
Rightmove experienced its busiest day ever following the Budget, with visits to the site topping nine million for the first time.
Stephen Ludlow, Chairman at ludlowthompson says: “The property market and the wider economy have benefitted significantly from the Stamp Duty holiday.”
“We’re pleased to see the Chancellor extend the holiday. This will be enormously beneficial to buyers and sellers alike. Buyers will be able to make considerable savings on their purchases, whilst sellers can be confident of making a quick sale.”
Ludlowthompson’s agents are continuing to offer prospective renters and buyers guided video tours of properties. In person viewing appointments complying with social distancing policies are available following virtual viewings.
This week’s video tour is a two bedroom flat in Dulwich
We received 653 5-star Google reviews in 2020.
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ludlowthompson staff are measured by how our customers rate them via 1,000s of questionnaires.
Every single questionnaire is read by Stephen Ludlow and David Thompson.
Tom F via Google reviews:
“We sold our one bedroom flat through ludlowthompson. They were excellent throughout from giving advice on pricing right through to completion.”
Simon M via Google reviews:
“We used ludlowthompson to market the selling our flat, and despite very unusual circumstances in the midst of a pandemic and a turbulent marketplace, were able to sell with the help of our sale negotiator. He understood our needs from day one and was able to help us navigate the twists and turns of the selling process, taking on board our thoughts and ideas and reacting very robustly to what felt like ever changing circumstances. We were overall very happy with the approach and thank him very much for sticking with it and getting a desirable result at the end.”
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