Deadlines In The 2021 Housing Market

January 29th 2021
By: Thomas Morris
Deadlines In The 2021 Housing Market

When it comes to making a move in the housing market, it is vital you make an informed decision. At Thomas Morris, we are delighted to say we have helped many homeowners make the right call when it comes to the housing market.

We know the local market well, and as we are part of a network of agents across the country, we are well placed to keep you fully informed.

One thing we are keen to do in 2021 is make sure you are up to date with respect to changing deadlines. A lot of things are changing with respect to the housing market in 2021, and we want to make sure you know everything which might, or not might, affect you.

A lot of changes will occur in spring this year

Nicky Stevenson is a noted name in the UK housing market, and she has outlined some of the key deadlines. She said; “Looking at the year ahead, 2021 will be host to a lot of housing market changes and deadlines. The stamp duty holiday is set to finish at the end of March 2021, the same deadline for Help to Buy changes. A 2% surcharge for overseas purchasers will be introduced from 1st April and potential changes to Capital Gains Tax are set to be introduced. These changes will no doubt impact transaction volumes and house prices.”

At the time of writing, the stamp duty holiday is currently expended to end on 31st March 2021. However, there are calls for this to be extended. If this changes, we will let you know, ensuring you can make an informed decision regarding your next move.

Even if the stamp duty holiday ends this spring, there are still many changes you need to be aware of.

We will help you prepare your next move

Nicky also spoke about what is likely to happen in the housing market this year. Nicky Stevenson followed up by saying; “House price forecasts for 2021 range from mildly positive to greatly negative, reflecting uncertainties facing the economy and the housing market. The Dataloft consensus house price forecast, based on the average from five leading commentators, expects 0.9% growth in 2021. The Office for Budget Responsibility (OBR) forecast 1,111,000 residential transactions to complete in the year to March 2021, rising to 1,279,000 in the year to March 2022s."

At Thomas Morris, we are proud to serve the St Neots community, and we look to bring buyers and vendors together”, said Thomas Morris St Neots Branch Manager Andrea Delaney. “If you need advice on where is best for your needs, or which type of home will appeal most to you, we are here to assist you, so please get in touch.”

If you are looking for help with any matter of the property market, it is best to speak to property professionals. You can book a sales or rental valuation appointment directly on line at a time and date of your choice by clicking here or alternatively or you can phone our St Neots branch on 01480 403020.