The UK property market is still booming and with up to £15,000 discount up for grabs, it’s easy to understand why.
Buyers are now rushing to find their new home & push through their purchase, the reason for this is that any property purchase that has not completed by the 30th of June will not receive the huge discounts currently on offer.
Just how much money will they save?
Below is a list of the savings on offer, put in place by the UK government in the summer of 2020.
| Purchase price | After 30th June | Current rates |
| £100,000 £200,000 £300,000 £400,000 £500,000 £600,000 £700,000 £800,000 |
£0 £1,500 £5,000 £10,000 £15,000 £20,000 £25,000 £30,000 |
£0 £0 £0 £0 £0 £5,000 £10,000 £15,000 |
Both sellers and buyers should be reassured that as with the previous lockdowns the property market is still open & viewing homes is acceptable as long as government guidelines and social distancing rules are adhered to.
What does this mean for people looking to sell?
No one can predict the market, but what is certain, there is currently an incentive for buyers and data shows it’s boosted the market & the amount of buyers currently looking. With the incentive taken away, a drop on the number of buyers & therefore property prices could be seen in the coming months.
