Tuesday, July 5, 2022
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Spending & Saving

Stamp duty holiday set to save £3.4bn

MtR by MtR
June 11, 2021
in Spending & Saving
0
Stamp duty holiday set to save £3.4bn


The latest research by estate agent comparison site, GetAgent.co.uk, has found that despite market delays, over half a million homebuyers in England are set to benefit from the stamp duty holiday to the tune of £3.4bn.

GetAgent analysed transaction data from the Land Registry to see how the market has already performed between the launch of the stamp duty holiday and the original deadline of 31st March 2021 (latest data available). GetAgent then also estimated what the continued impact will look like by the time the clock does finally expire on the initiative.

The impact on demand is clear, with GetAgent’s research showing that prior to the launch of the stamp duty holiday, 258,978 transactions took place across England between 1st January 2020 and 7th July 2020. This equates to 1,370 homes sold for every one of the 189 days during this period.

However, current market data suggest that since the introduction of the stamp duty holiday, this has increased to a rate of 1,508 homes sold per day.

In total, GetAgent estimates that of the 539,972 transactions forecasted to complete between 8th July 2020 and the initial deadline extension of 30th June this year, 84% will pay no stamp duty at all, with the total market saving expected to hit nearly £3.2bn.

In addition, a further 138,764 homes are expected to sell between the additional deadline extension of 1st July and 30th September this year. Despite the stamp duty free threshold being reduced from £500,000 to £250,000, GetAgent estimates that 45% of all transactions will still remain stamp duty exempt with a further saving of £250,006,781 seen across the market as a whole.

In total, the stamp duty holiday in its entirety looks set to see an estimated 76% of all homebuyers pay no stamp duty whatsoever, with the total saving hitting over £3.4bn.

Founder and CEO of GetAgent.co.uk, Colby Short, commented:

“The current stamp duty holiday may have its critics and there’s no doubt that it’s been a factor in creating the current market bottleneck that has seen many subject to long delays during the transaction process.

“However, there’s also no doubt that a great deal of homebuyers have benefitted and many more will continue to do so right up until the end of September. Even with the reduction of the stamp duty free threshold from July onwards, nearly half of all transactions will continue to pay no stamp duty at all, so we can expect the market madness to continue until this secondary deadline, at the very least.”



Source link

Related articles

Small-Cap Pharma Stock Soars 12% on Corporate Announcement – Investing.com India

July 5, 2022

Saving the lives of millions of children not just a ‘political victory’

July 4, 2022

Related Posts

Small-Cap Pharma Stock Soars 12% on Corporate Announcement – Investing.com India

by MtR
July 5, 2022
0

Small-Cap Pharma Stock Soars 12% on Corporate Announcement  Investing.com India Source link

Saving the lives of millions of children not just a ‘political victory’

by MtR
July 4, 2022
0

OPINION: Last week the Supreme Court of the United States handed down a number of rulings reaffirming an originalist interpretation...

Should you invest in a Reit?

by MtR
July 4, 2022
0

Shares of real estate investment trusts (Reits) have delivered decent returns since their listing in the last two years but...

Sea worm oxygen-saving technology may preserve organs before transplants – South China Morning Post

by MtR
July 4, 2022
0

Sea worm oxygen-saving technology may preserve organs before transplants  South China Morning Post Source link

2 ETFs That May Benefit From Increased July 4 Spending

by MtR
July 4, 2022
0

Amid soaring inflation and rising market uncertainty, Americans are taking a breather to enjoy the long July 4 weekend.Around 84%...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
Fed tapering and emerging markets

Fed tapering and emerging markets

June 7, 2021
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

US Dollar Index Hits 52-Week High: Impact On Indian Stock Market, FII Outflow

July 5, 2022

Global Pre-Natal Vitamin Market 2022 to 2028 Analysis by Top Industry Players Merck & Co, Eli Lilly, Sandoz Canada Incorporated, Swisse

July 5, 2022

The global drilling fluids market was estimated to be at

July 5, 2022

MENAP and Turkey-based startups raise $5.1bln in H1 2022

July 5, 2022

Recent News

US Dollar Index Hits 52-Week High: Impact On Indian Stock Market, FII Outflow

July 5, 2022

Global Pre-Natal Vitamin Market 2022 to 2028 Analysis by Top Industry Players Merck & Co, Eli Lilly, Sandoz Canada Incorporated, Swisse

July 5, 2022

The global drilling fluids market was estimated to be at

July 5, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter