Buyers and sellers rejoice, Rishi Sunak’s decision to cut stamp duty takes immediate effect today and will remain until 31st March 2021. Therefore everyone buying a main home in Shropshire under £500,000 will pay no stamp duty at all!
This incentive is very much welcomed by the Coleman Estates team and will have a great impact in Telford with the majority of sales being sub £500k.
With the average house price across Shropshire being £216k—today’s changes could save buyers £1,825 in stamp duty costs when purchasing a home of this value. The long and short is the more the property is worth that you are purchasing (up to £500k), the more you will save. Some buyers could be looking at potential savings of up to nearly £15k.
These unexpected savings will come in handy for home improvements and furnishing budgets. This, in turn, will have a knock-on effect for the wider economy as people will be in a better financial place to buy more for their homes.
Now is the perfect chance for buyers to purchase a property at a discount and for sellers to take advantage of this injection into the property market. We would urge you to act quickly on this incentive as the process of buying and selling can sometimes take longer than expected.
The team are continuing to see high levels of interest for Shropshire properties and new listings are being snapped up as quickly as we list them. So whether you are planning to sell or buy, get in touch today with Telford’s best-rated agent to either arrange your free property valuation or let us know your property requirements.
Taking your next steps along the property ladder has never been easier with Coleman Estates. We look forward to speaking with you.
Back to news
