Comment on HMRC Property Transactions for April 2015
Wed 20 May 2015
Peter Rollings, CEO of Marsh & Parsons, comments: Only a month ago, buyers were waiting with baited breath to see which way the wind would blow after the general election, and this political anxiety clearly stalled housing market activity momentarily. Not many would have predicted an outright majority government, but the conclusive election result has launched a rocket of confidence in the property market, with buyers and sellers able to act with certainty again.
The market above 2m which is already starting to digest the new higher stamp duty costs is now free from the fear of an unfriendly mansion tax that would have encroached across much of the capital. With the election done and dusted, we expect to see the market really awaken to the opportunities that are on offer with buyers acting quickly to take advantage of more available stock, better mortgage rates, lower stamp duty (for those buying under 937,000) and Help to Buy schemes.