Stamp Duty Changes – A big Step forward for the property market

The Chancellor Rishi Sunak has announced sweeping changes this afternoon around Stamp Duty which is excellent news for anyone thinking of buying a home in the Attleborough and East Harling area

Stamp Duty is a tax applied when you buy a property and the announcement that there will be a payment holiday starting immediately means homebuyers will save thousands of pounds.

What's Changing?

The Government has raised the stamp duty threshold to £500,000 for all buyers until March 31st, 2021.

That means property purchases below £500,000 will not need to pay ANY stamp duty.

On average that will save homebuyers at least £4500 according to the Chancellor, also meaning 9 out of 10 people will pay no Stamp Duty whatsoever while the holiday lasts.

The move has been welcomed by home buyers and across the property industry. It is being seen as a step on the path to getting Attleborough and East Harling along with the UK's economy firing on all cylinders again.

What it Means to You

You're most likely thinking 'how much could I save when buying a new property now?'

Well, the more you pay for a property during the Stamp Duty Holiday - up to the new £500,000 threshold - the more you can save.

For example, according to the BBC, if you bought a house for £275,000 before today's announcement, the Stamp Duty you'd have to pay would be £3,750.

What does it mean for the Attleborough and East Harling property markets?

We've already seen a lot of interest in the Attleborough and East Harling property markets since lockdown was relaxed.

This move by the Government will keep the positive momentum going and help the broader economy.

This is because when people move, they often spend thousands of pounds doing up their new home to suit their lifestyle and tastes.

The change also means now is a great time to put your property on the market as we're expecting a surge of buyers looking to make their move while they can save a large chunk of cash.

What we're doing to help buyers and sellers

We're primed and ready to take your calls and answer any questions you have around the new Stamp Duty changes.

So, if you are thinking of selling in 2020 now is the perfect time thanks to this news.

We're always here to help so if there's something you want to know either comment below (FOR SOCIAL MEDIA POSTS) or call us now on (01953) 453838.

Thanks for reading.

The team at MILLBANKS.

Get in touch with us

First Name

Last Name

Your Email Address

Mobile Phone

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)

Confirm

What Could Happen to Attleborough House Prices in 2026?

As a new year begins, many Attleborough homeowners and buyers are asking the same question: what will happen to house prices in 2026, and when is the right time to move? This article looks beyond forecasts and headlines to examine the real drivers of the local market, focusing on supply, demand, and affordability to understand what may lie ahead.

CLICK HERE >

House Prices in the last 10 years!

This map highlights how uneven UK house price growth has been over the last decade. While some regions have surged ahead, others have seen far more modest gains. It’s a clear reminder that national averages hide wide regional differences, and that property performance is always shaped by local markets rather than headlines.

CLICK HERE >

Resi Stock Levels Now vs 3 years

Over the past three years, the number of homes for sale has surged dramatically, far outpacing the national rise. Yet, despite the increase, supply remains tighter than in past downturns. With more choice for buyers, success now depends on smart, realistic pricing that stands out in a competitive market.

CLICK HERE >

What will November's Budget now mean for Attleborough homeowners and landlords?

Following on from the Chancellor’s Autumn Budget, this article breaks down what the new tax measures really mean for Attleborough. With the feared £500,000 property tax dropped and a targeted Mansion Tax on £2m-plus properties introduced, I explore the likely impact on local homeowners, landlords, and tenants, separating headlines from reality.

CLICK HERE >