Posted on Feb 23, 2021

Eastbourne Removals Sussex

Make stamp duty holiday permanent and see housing market soar, says think tank. The Centre for Policy Studies has argued that the nine month holiday has in fact seen Treasury revenues rise

The stamp duty holiday has helped bring housing transactions to the highest level since the financial crisis in 2007.

It has also warded off a collapse of the house building sector, with more new builds completed in Q3 2020 than in the same period in 2019.

If the holiday ends in March as planned, we risk a slump in the housing market and house building sector, which will jeopardise the recovery and deepen the housing crisis.

To prevent a slump in house building and help millions of would-be homeowners, the Government needs to make the new threshold permanent for primary homes or abolish the tax outright.

Such reform would also boost new build construction by an estimated 20,000 homes per year, while abolition would deliver an additional 23,500 new builds annually.

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