Twitter Facebook RSS FEEDS

First time buyers rush for stamp duty holiday

Wednesday, 22 February 2012 10:57 AM

Sales to first time buyers edged up in January according to figures released today by the National Association of Estate Agents (NAEA).

Wendy Evans-Scott, NAEA president Wendy Evans-Scott said that first time buyers appear to be taking advantage of the stamp duty holiday, which comes to an end in March.

Twenty three per cent of overall sales made in the month were to first time buyers, compared to 21 per cent in December.

The figures represent the third consecutive monthly rise in sales to first time buyers and are at their highest since last May.

Evans-Scott added: "The NAEA and other property specialists campaigned hard for the government to introduce the tax exemption to support first time buyers, and these latest figures certainly suggest that stamp duty is a key factor for those on tight budgets purchasing their first home.

"We are deeply disappointed that ministers have axed this support for a crucial part of the housing market which has benefited so many house-hunters in getting onto the property ladder."

The NAEA's report also shows a slight drop in the number of people registering at branches, but a small increase in overall sales.

Supply levels dipped to their lowest level in 19 months, with 60 properties available to house-hunters on average.

Want to be the first to know when we break a story? on Twitter and subscribe to our free weekly newsletter.

Related stories

The average estate agent branch had 297 house-hunters registered in March compared with 293 in February.

Home sales flat despite stamp duty deadline rush

Demand from first-time buyers supports sales but levels of supply fall, says National Association of Estate Agents (NAEA).

 The NAEA believe the new stamp duty rate on £2m houses will affect any recovery. Image:Thinkstock

Stamp duty increases set to dampen recovery hopes

Estate agents say February sales boosted by end of holiday for first-tome buyers but rise could be short-lived.

If you're currently in a chain it is worth making sure the others know about the stamp duty cutoff. Image:Thinkstock

Two months left to buy with stamp duty holiday

Estate agents urge first-time buyers to act quickly to avoid extra bill when tax exemption ends on 24 March.

 George Osborne's stamp duty decisions have not been popular with the NAEA. Image:Allstar

Stamp duty windfall tops £1bn

Stamp duty brought in a £1bn windfall for the government last year, prompting calls for the stamp duty holiday for first time buyers to be reinstated.
The average UK house price is now £163,803.

Rush to use stamp duty holiday boosts prices

House prices up 2.2 per in March as first-time buyers increase transactions, says Halifax.

 Chancellor George Osborne gave his autumn statement to parliament today.

Osborne ends Stamp Duty holiday for first-time buyers

George Osborne decision to end Stamp Duty holiday branded "disappointing" by CML.
Many first-time-buyers are rushing to take advantage of the stamp duty concession which runs out in March. Image:Liquid

First-time buyers bid to beat stamp duty deadline

December saw rise in mortgage lending to first-timers ahead of end of holiday in March, says CML.

 The increase in lending to first-time-buyers is expected to be temporary. Image:Thinkstock

Stamp duty effect boosts mortgage lending

Surge in loans to first-time buyers as holiday came to an end but more loans to home movers too, says Council of Mortgage Lenders.
In the market as a whole, the number of house hunters registering at estate agent branches fell slightly in October.

Home sales slump hits first-time buyers

Estate agents say mortgage and deposit problems behind fall in sales to lowest level since 2008.

 The picture is a gloomy one for first-time buyers. Image:Thinkstock

Premature end for stamp duty bounce

The stamp duty bounce is "fizzling out" earlier than expected, according to the latest mortgage monitor from e.surv chartered surveyors.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

A guide to finding the right kitchen sink

When redesigning a kitchen or giving the room a makeover, it is important not to forget about the less obvious aspects of the space. Kitchen sinks are an essential fitting, but often overlooked, despite the fact there is a wide choice of styles available.

Useful tips to help find a flat in London

Looking for flats in London can be a frustrating process, given the capital's size, demand for rental accommodation and varying prices. It is vital, therefore, that you do plenty of research and act quickly to ensure you get the place that you want.

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.