Tag: stamp duty

Happy New Year from Team Benwell Daykin

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The last twelve months have seen unprecedented times for many of us – and estate agents are no different says Benwell Daykin. This year has seen the property market flourish like never before. A continued increase in house prices and demand far outstripping that of supply are considered to be the main reasons for the continued robust price growth. Average UK house prices defied expectations and continued to climb over the last few months despite the phasing out of the government’s stamp duty holiday at the end of September. Nationwide,…

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House Prices Increase by the Most Since 2007

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Mortgage lender Halifax has reported this week that house prices in the UK rose by the most in almost 15 years during September. This came as the stamp-duty holiday came to an end – and the Halifax predicts that prices will continue to climb to new record high levels. Prices rose by 1.7% from August, the biggest monthly increase since February 2007. In annual terms, house price growth also accelerated to 7.4% from 7.2% in August having slowed in each of the previous three months. The housing market in the…

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Update to Stamp Duty Thresholds

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Reduced ‘stamp duty’ rates on residential properties from the 1st July will be an added bonus to so many prospective home buyers says Benwell Daykin. It means that if you buy a residential property between July 1st 2021 and September 30th 2021, you start to pay Stamp Duty Land Tax on the amount you pay above the threshold of £250,000. From October 1st 2021 the zero rate band will return to the standard amount of £125,000. The rates from the October 1st 2021 are: Up to £125,000 – Nil The next…

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Guaranteed Mortgage Scheme Begins

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Following Benwell Daykin’s previous RUDDINGTON.info article in March, detailing the extension to the Stamp Duty Holiday and Guaranteed Mortgage scheme, they are now pleased to expand on this. From the start of this month, the government has provided guarantees to UK lenders who offer mortgages to buyers, to secure a loan with a 5% deposit on a property of up to £600,000 before the 31st December 2022. The UK’s top five banks have announced their support of the initiative and many will roll out their offers and initiatives from the 19th…

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Stamp Duty Holiday Extended & Guaranteed Mortgage Scheme

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Following the budget announcement on March 3rd, that the Chancellor extended the Stamp Duty Holiday, what does this mean for Ruddington residents? Well, the property purchase tax has been suspended on the first £500,000 on any property purchase, meaning you have the opportunity to save thousands of pounds if you complete your purchase before June 30th 2021. Nick Aston, senior valuer at Benwell Daykin Estate Agents on High Street, welcomes the extension: “This is great news for home buyers in the Ruddington area” he says. “With their savings on stamp duty,…

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January Record for Benwell Daykin

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The UK property market enjoyed a mini boom in the second half of 2020. The question on everybody’s lips is: “Why is this, and will it continue in 2021?” The property market in England is fully open in its entirety, meaning that Benwell Daykin is allowed to conduct in-person valuations and house viewings, meaning buyers are able to move home despite the ‘lockdown’ measures currently in place. Since the middle of 2020, the UK property market has been on the rise which has seen transaction numbers rise significantly. Provisional data…

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Time for a New Home in 2021?

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Are you thinking of moving in the new year? You are not alone! Ruddington has seen a significant increase in demand to live in the area, despite the complications the pandemic has brought. Over the last twelve months, properties in Ruddington have increased in value by around 9.76%.*  Factor in the stamp duty holiday and there are a lot of positives out there for home movers currently. December in the property industry is historically a quiet month, with most people busy preparing for Christmas, whilst everything else gets put on hold,…

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You Can Still Buy or Sell a Property During ‘Lockdown’

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There is obviously a lot of concern surrounding the growing threat of Coronavirus in Nottinghamshire. Although Ruddington and the surrounding areas have now entered into the governments’ Tier 3 restrictions – with another national ‘lockdown’ from November 5th – you are still able to buy or sell a home when taking the right safety precautions. It is worth noting that anyone who does want to make the most of the stamp duty cuts will have to have an offer accepted on a property before the end of November at the…

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Why is Ruddington so Popular for Home Buyers Right Now?

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Benwell Daykin reported last month that the property market is currently going through somewhat of a boom. Since then, many national news outlets have also reported some of the biggest property price growth seen in over five years. At our estate agency, demand for Ruddington property has always been high. However, we are seeing a huge increase in enquiries for property in the village and the surrounding areas. But why is this? The freeze on stamp duty is certainly playing its part, with more and more families taking the opportunity…

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The Property Market is Booming!

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Following unprecedented times, the Nottinghamshire property market currently finds itself in somewhat of a boom says Benwell Daykin. Many predicted we would experience a dip in house prices with fewer sales and purchases following the Coronavirus lockdown. In fact, the opposite has happened! Demand for a new home is currently outstripping supply. Viewing numbers have increased on each available property and with more buyers brings more offers.  High competition means property prices are driven up, as buyers compete with each other to secure their dream home. In July 2020, Rightmove…

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