8 July 2020
HOUSEBUYERS in Yorkshire will save an average of £4,500 thanks to a stamp duty holiday announced today by Chancellor and Yorkshire MP, Rishi Sunak.
From today until March 31, Stamp Duty will only be payable on properties priced at £500,000 and over.
Will Linley, chief executive and co-founder of residential sales and letting agents, Linley & Simpson, said it was a major boost for the industry and one that should turbo charge the Yorkshire property market.
Mr Linley said: "Whilst we have seen the property market making a steady post-Covid recovery, today's announcement by the Chancellor is very welcome news indeed.
"There was a fear that its introduction would be delayed, which would have immediately put the brakes house sales.
"The stamp duty holiday will make a huge difference for those purchasing properties up to £500,000 and will encourage some to look at flats and houses that were originally out of their price bracket.
"For those contemplating moving house - or taking the first step on the property ladder - now's the time to do it.
"And with many lenders having stopped providing 90 per cent mortgages, the savings will certainly benefit those struggling to find a deposit."
Linley & Simpson has 19 branches located across North and West Yorkshire and The Humber.
If you would like to discuss how these changes will affect your house move contact your nearest branch for more information, contact details can be found here.
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