The stamp duty extension announced by the Chancellor in the Budget last week came as a huge relief to buyers stuck in transaction logjam.
It is thought 300,000 transactions in England could benefit by the end of June from the stamp duty extension announced in the Budget.
However, there was a hope for a more tapered approach to phasing out the stamp duty holiday from what was a “cliff-edge” come the 31st March 2021 when thresholds would return to normal.
The new extension has meant that buyers completing on or before 30 June 2021 will continue benefit from the £15,000 saving when purchasing up to £500,000.
However, beyond this date the only saving made is £2,500 until the end of September for purchases up to £250,000 benefitting from the holiday.
Stamp Duty thresholds at the time of writing return to normal come 1 October 2021.