Propertymark comments following today’s debate on the Stamp Duty holiday

Mark Hayward, the Chief Policy Adviser at Propertymark, comments following today’s debate in Parliament on the Stamp Duty holiday.

“We welcome today’s important debate on the issue of the stamp duty holiday, and are pleased to see that there is clearly cross-party support for a holiday extension or tapered end given the concerning cliff-edge is now only two months away.

“The housing market boom, caused by the stamp duty holiday, has been hugely beneficial; however, the stamp duty cliff edge on the 31st March could cause thousands of sales to fall at the final hurdle and have a knock on and drastic effect on the housing market which has recovered well from the Covid slump. 

“We are continuing to call on the Government to rethink these timings, so pressure on the system can be released to allow transactions to complete and avoid a disorderly and distressing period for movers and businesses throughout the market.”

Kindly shared by Propertymark