32% of sales fall below £250,000 in the East of England

Nearly half of buyers are still likely to benefit from 0% taxation on their main residence from the 1st of July when the Stamp Duty and Land Transaction Tax Holiday price thresholds fall to £250,000 in England and £180,000 in Wales.

Over the past year, 47% of all homes in England sold for below £250,000. Excluding London, where the proportion increases to 52%.

In Wales over half of all buyers will still pay 0% tax.

In Northern regions, where property price growth is currently strongest, over 70% of sales fall below the £250,000 threshold; in London just one in 20.

First-time buyers in England will still benefit from tax relief on sales up to £300,000

Although many expected the housing market to be quieter during the summer months as restrictions ease, demand across the housing market remains high.

We have a database growing by the day, of proceedable and first-time buyers all looking for their next or new home.

If you are thinking about your next move and would like some honest property advice, then please get in touch.

https://butlerresidential.co.uk/value-my-property