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SELL YOUR HOME QUICKLYRumours about stamp duty affecting property buyers
The rumours of stamp duty being suspended or paused for a period of time have curbed the interest of potential home buyers significantly since last week.
Chancellor Alistair Darling was interviewed by the BBC’s Radio 4 Today programme, and when he was asked about the stamp duty rumours reported in the Sun newspaper, he stated that he was “looking at a number of measures” and had not “concluded exactly what we need to do” in order to address the issue, reported news.bbc.co.uk.
Aboutproperty.co.uk said today that makers of HIPs (home information packs) are asking the government to “stop ‘dithering’ over the future of stamp duty”. Furthermore, the AHIPP (Association of Home Information Pack providers) is joining the NAEA (National Association of Estate Agents) in its campaign “for clarity and certainty over the future of stamp duty”.
These stamp duty rumours are reducing the number of property buyers. This is due to the fact that without any stamp duty, the amount buyers would have to pay for a house will be significantly reduced.
According to Aboutproperty.co.uk, the Director General of AHIPP said that “The few buyers that were out in the market place have put their plans on hold in the hope that moving house will become cheaper in the next month or so, this dithering by the government is making a desperate situation even starker.”
The drop in interest from property buyers is of concern to anyone wanting to sell their house. According to MPG Investments, the effects of the stamp duty rumours should however not influence homeowners’ decisions to sell their houses. MPG Investments is still looking for properties to buy even though the property market is going through a slump.