Stay In Touch With Stamp Duty Sales Deadline

24th September 2020 posted in BUYERS

If you have been incentivised to consider your next property move because of the stamp duty holiday, it is crucial you consider the deadline. Unless the deadline is extended or made permanent, it will only appeal to property deals concluded on or before 31st March 2021.

At the beginning of September, there are 29 weeks until this deadline. According to information listed on the home.co.uk website at the end of August, the average time it takes to sell property in Royston is 169 days. This equates to around 24 weeks.

With our expertise and experience in the Royston 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.

Stay in touch with Royston house prices

As of September 2020, Zoopla lists the average price of property in Royston as £417,939. 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 close to £11,000.

Flats in Royston

The average price paid for flats in Royston 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 Royston

The average price paid for terraced property in Royston over the past 12 months is £307,764. There is no stamp duty payable at this price with the stamp duty holiday, representing a saving of over £5,000.

Semi-detached properties in Royston

The average price paid for semi-detached properties in Royston over the past 12 months is £356,836 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 close to £8,000.

Detached properties in Royston

The average price paid for detached properties in Royston over the past 12 months is £638,128 and this is above the stamp duty threshold. Anyone purchasing property at this price before the 31st of March 2021 only has to pay close to £7,000 in stamp duty fees.

Without the stamp duty holiday in place, the buyer would have to pay £21,906.40 in stamp duty fees. Therefore, there is a saving of £15,000 for anyone buying at the average price for detached property in Royston.

In line with Government guidelines, our Royston branch has reopened and is again staffed with sales and lettings personnel.  If you have any queries or need advice on property sales and lettings then please call 01763 245121 or email royston@country-properties.co.uk.