Be Aware Of The Stamp Duty Deadline

24th September 2020 posted in BUYERS

There is considerable focus on the housing market right now, with the stamp duty holiday incentivising buyers and vendors. It is important you are aware of the stamp duty deadline, and if you plan on selling or buying in Baldock, we are here to help you make an informed decision.

As of the end of August 2020, the average time for property in Baldock to stay on the market is 198 days. This equates to just over 28 weeks, and as of the first week in September, there are 29 weeks to the stamp duty holiday.

With our expertise and experience in the Baldock area, we believe we can work quickly without compromising on standards. However, the sooner you act, the more time you have to conclude matters successfully, we are happy to help you as soon as possible.

At Country Properties, we are well placed to speed up the process without compromising on the quality of the sale. Even in a time when there are expected delays due to social distancing measures, we know the local market, and we can assist you to make your next move.

If you plan on selling your Baldock home, contact us and we will arrange a property valuation for you. With a realistic property valuation, you enter the market with confidence, and you can develop your budget for your next move.

Stay in touch with Baldock house prices

As of September 2020, Zoopla lists the average price of property in Baldock as £361,015. This figure is below the stamp duty threshold, which means anyone buying at this price will not pay any stamp duty, as long as the deal is concluded before the deadline. The stamp duty associated with a property purchase of this magnitude before the stamp duty holiday was more than £8,000.

Flats in Baldock

The average price paid for flats in Baldock over the past 12 months is £172,393. This would have resulted in a stamp duty payment of close to £1,000; but as it is below the current stamp duty threshold, there is nothing to pay when purchasing property at this price.

Terraced properties in Baldock

The average price paid for a terraced property in Baldock over the past 12 months is £311,604. There is no stamp duty payable at this price with the stamp duty holiday, representing a saving of £5,580.20 for a buyer.

Semi-detached properties in Baldock

The average price paid for semi-detached properties in Baldock over the past 12 months is £377,282 and again, this figure is below the stamp duty threshold. A buyer will not have to pay stamp duty on the purchase, which represents a saving of £8,864.10.

Detached properties in Baldock

The average price paid for detached properties in Baldock over the past 12 months is £611,067 and this is above the stamp duty threshold. Anyone purchasing property at this price before the 31st of March 2021 only has to pay £5,553.35 in stamp duty fees.

Without the stamp duty holiday in place, the buyer would have to pay more than £20,000 in fees. Therefore, there is a saving of £15,000 for anyone buying at the average price for a detached property in Baldock.

In line with Government guidelines, our Baldock Branch has reopened and is again staffed with our experienced team.  To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 895061 or 01462 742077, or you could email baldock@country-properties.co.uk  or ashwell@country-properties.co.uk.