Demand and supply disparity will determine who benefits from Stamp Duty cut, says Mazars

Demand and supply disparity will determine who benefits from Stamp Duty cut – Chris Lallemand, from Mazars, comments on summer budget.

“The suspension of Stamp Duty for residential property up to £500,000 will help to spur transactions in the market, which fell to 50% of their normal levels over previous months. The property sector is already busy trying to assess demand for residential property, and it is likely that the disparity between demand and supply will determine whether it is the buyer or the seller who gets the benefit of the rate cut. It remains to be seen whether Wales and Scotland will follow suit for LTT and LBTT respectively.”

Kindly shared by Mazars Accountants