PROMOTION Post-Holiday Blues? Stamp Duty extension and Property Market Predictions for 2021 It seems likely that the extension to the holiday just "he COVID-19 restrictions have not been an enjoyable experience for most people. However, thousands of us have taken the announced will stimulate demand still further in the short term and we have already seen a pick-up of requests for conveyancing quotes and other signs of increased market activity ahead of the announcement. opportunity to participate in the stamp duty land tax (SDLT) holiday, which was introduced in England last July and has just been extended by Chancellor Rishi Sunak for another three months until the end of June this year, with a tapered concession for 3 months after that. Only time will tell if this trend will continue, and of course a lot depends on the outlook of the dreaded coronavirus and success of the mass vaccination programme, which is progressing well to date. Our best guess is that, after a flurry of activity to beat the extended deadline, there will be a pause for breath in the autumn and winter months, followed by a pick-up in the early months of next year provided that the virus remains subdued, where those lucky enough to have saved money by staying in work make up for Tim Jordan The stamp duty holiday created a boom in the housing sector as demand surged upon its introduction. Property transactions throughout the period of July - December 2020 substantially increased in comparison to previous years as a reflection of this. Director of Conveyancing in he Property Group at SÀS Daniels UP So, what does the landscape for the property market look like from April 2021 onwards? This is even more difficult to predict than usual. The lost time. Looking further ahead, we anticipate a slight fall in house prices following the end of the SDLT holiday and a reduction in the overall number of transactions in apocalyptic predictions for the market last year proved to be completely wrong and house prices rose on average by 7.6% and transactions were only 1% down over the year as a whole, despite the best part of 3 months inactivity. Rightmove visits in January 2021 were up by 33% on the same period in 2020; meamwhile prospective buyers contacting agents increased by 12% and sales agreed also went up by 9% on comparative period last year. the coming year, but no major correction until perhaps end of 2022. The property arena appears to be one area at least where the Chancellor's medicine has helped, but we must wait for a while yet to see the long-term impacts on the market. This article was correct at the time of publication, however details in the article may be subject to change according to updates from the Government. If you would ike advice on property transactions or guidance on any conveyancing matters, please contact Tim Jordan, Associate Solicitor, on 0161 475 614 or email tim.jordan@sasdaniels.co.uk sas daniels LLP Solicitors. Offices in Chestor, Congleton, Macciesfield and Stockport www.sasdaniels.co.uk PROMOTION Post-Holiday Blues? Stamp Duty extension and Property Market Predictions for 2021 It seems likely that the extension to the holiday just "he COVID-19 restrictions have not been an enjoyable experience for most people. However, thousands of us have taken the announced will stimulate demand still further in the short term and we have already seen a pick-up of requests for conveyancing quotes and other signs of increased market activity ahead of the announcement. opportunity to participate in the stamp duty land tax (SDLT) holiday, which was introduced in England last July and has just been extended by Chancellor Rishi Sunak for another three months until the end of June this year, with a tapered concession for 3 months after that. Only time will tell if this trend will continue, and of course a lot depends on the outlook of the dreaded coronavirus and success of the mass vaccination programme, which is progressing well to date. Our best guess is that, after a flurry of activity to beat the extended deadline, there will be a pause for breath in the autumn and winter months, followed by a pick-up in the early months of next year provided that the virus remains subdued, where those lucky enough to have saved money by staying in work make up for Tim Jordan The stamp duty holiday created a boom in the housing sector as demand surged upon its introduction. Property transactions throughout the period of July - December 2020 substantially increased in comparison to previous years as a reflection of this. Director of Conveyancing in he Property Group at SÀS Daniels UP So, what does the landscape for the property market look like from April 2021 onwards? This is even more difficult to predict than usual. The lost time. Looking further ahead, we anticipate a slight fall in house prices following the end of the SDLT holiday and a reduction in the overall number of transactions in apocalyptic predictions for the market last year proved to be completely wrong and house prices rose on average by 7.6% and transactions were only 1% down over the year as a whole, despite the best part of 3 months inactivity. Rightmove visits in January 2021 were up by 33% on the same period in 2020; meamwhile prospective buyers contacting agents increased by 12% and sales agreed also went up by 9% on comparative period last year. the coming year, but no major correction until perhaps end of 2022. The property arena appears to be one area at least where the Chancellor's medicine has helped, but we must wait for a while yet to see the long-term impacts on the market. This article was correct at the time of publication, however details in the article may be subject to change according to updates from the Government. If you would ike advice on property transactions or guidance on any conveyancing matters, please contact Tim Jordan, Associate Solicitor, on 0161 475 614 or email tim.jordan@sasdaniels.co.uk sas daniels LLP Solicitors. Offices in Chestor, Congleton, Macciesfield and Stockport www.sasdaniels.co.uk