The Property and Land Specialists

The Chancellor of the Exchequer, Rishi Sunak, has announced a temporary Stamp Duty Land Tax (SDLT) holiday on residential purchases in England and Northern Ireland up to a threshold of £500,000 until the 31st March 2021. The SDLT holiday came into immediate effect from 8th July 2020 and will apply to all residential transactions, including those which have already exchanged but not completed.

For prospective purchasers the SDLT holiday represents potential savings of thousands of pounds and may well bolster the strong demand for property that the residential offices of Woolley & Wallis have already witnessed since lockdown was eased for Estate Agents on 13th May. We expect active buyers already seeking property as well as those who were merely considering a move will now be re-doubling their efforts to secure a new home and to take advantage of the SDLT holiday.

This, in turn, may well be very refreshing news for our existing clients as well as those considering a sale who perhaps have been undecided until this point. A definite window of opportunity now exists for sellers to capitalise on what will undoubtedly be rising demand between now and 31st March 2021 and there may be no better time to have a property actively marketed. In these unprecedented times the move represents a welcome fillip for the housing market in England.

If you are considering selling your property in 2020 then our local sales office would be delighted to offer a free, no obligation Market Appraisal and clear, trustworthy advice founded on years of experience working at the forefront of our local markets.

Although we would prefer not to be experiencing lockdown, it won’t last for ever and it is the perfect time to prepare your home for the market as soon as lockdown has been lifted.

Put your buyer’s hat on and walk through your home as if it is the first time and make notes on what you, as a buyer, would notice. Then think of ways in which you could ‘dress it’ for sale.

Some suggestions:

 - Ensure your home is clean.
 - Pay attention to smells – you don’t want it smelling like a fast food restaurant.
 - Clear out clutter.
 - Repaint the areas which are ‘tired’ and keep the décor simple.
 - Let there be light! A bright, cheery room looks bigger and more inviting.
 - Get rid of oversized furniture – the furniture should fit the scale of the room.
 - Tackle those little things you’ve been meaning to do but haven’t got round to them – manyana is today!
 - Give each room a purpose and stage the space to show case that purpose.
 - Make your home easy to view so the accommodation flows and highlight focal points and special features with plants or bright soft furnishings.
 - Give your home curb appeal and at least as a minimum refresh the front entrance. Often people form strong impressions and opinions of a home before going in – you never get a second chance to make a first impression.

When it’s all done and lockdown is lifted – call your local Woolley & Wallis office. We look forward to hearing from you.

There is much confusion and misinformation in the media sensationalism regarding the housing market since the Government’s advice was announced yesterday. The three key factors are flexibility, pragmatism and common sense. The advice relates only to home moving during the current pandemic and has largely been given as a result of the banks struggling with the volume of enquiries from people who are currently going through the house buying and selling process.

The three areas covered in the ‘Government advice on home moving during the coronavirus (COVID-19) outbreak’ are: Buying and Selling Homes during this stay-at-home period; Advice to the public and Advice to the industry.

Keep calm and keep well.