Recently, over 53,000 properties have been listed for sale in England, as revealed by Yopa's research, since the government ended temporary stamp duty relief. This increase in listings comes along with a notable trend of sellers reducing asking prices, especially in tax-affected brackets, highlighting the market's reaction to new financial policies. Yopa's findings indicate that significant portions of homes in critical price ranges have undergone price cuts to accommodate new tax implications, particularly as buyers adjust strategies post-stamp duty changes.
If you're planning a renovation, eyeing your next self-build plot, or just waiting for the right time to buy, a wave of new homes has just hit the market.
Their data shows that 38% of homes listed between £125,000 and £250,000 have had price reductions, reflecting changes due to the new stamp duty.
The South East and London led in terms of volume of new listings, with over 10,000 and 8,200 respectively.
Sellers appear to be lowering their asking prices, especially in the price ranges most affected by the tax changes.
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