Sell your house for a Happy New Year?
If your dream for 2010 is to sell your house quickly then once again the changes in the property market and general economy might not be particularly helpful for you. The end of the Stamp Duty holiday will do nothing to bolster the property market. Prevoiusly the government had put in place a ‘holiday’ on stamp duty for properties with a value of less than £175,000 but this has now come to an end. Stamp duty is now payable on all properties over £125,000 meaning that first time buyers will have a further chunk of money to find, in addition to any deposit required to fund the purchase of their dream home.Â
We all understand that the property market relies on first time buyers bringing new money in to keep properties moving all the way up the ladder. Making it more difficult for the first time buyers makes it more difficult for everyone up the ladder.Â
In addition, as mortgages remain difficult to otbain this weakens property chains. At any point one link in the chain could be broken as people are declined a mortgage. We keep seeing this happening to people, which is a crushing blow when you are desperate for a new start.
Hopefully later this year the property market may start to pick up again, in the meantime if you are looking to sell your house quickly contact Right Home Sales on 0800 0949 123, we can still help.
January 4, 2010
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