Estate agents back Rightmove’s call for stamp duty extension

Estate agents back Rightmove’s call for stamp duty extension

0:01 AM, 20th March 2025, About 4 weeks ago 1

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Estate agents are lining up behind Rightmove in urging the government to extend the existing stamp duty relief thresholds.

According to a survey from GetAgent.co.uk, 86% of agents support extending the tax break to ease the burden on homebuyers navigating purchases.

Rightmove has championed a modest continuation of the current relief levels, aiming to shield buyers mid-transaction from a sudden stamp duty land tax (SDLT) hike.

With the deadline looming on 31st March, 72% of agents report heightened buyer pressure to finalise deals swiftly.

Stamp duty deadline hysteria

The firm’s co-founder and chief executive, Colby Short, said: “With the final countdown now upon us, we’re starting to see a degree of mass hysteria being generated around the stamp duty deadline and the plight of those buyers who fail to complete by 31st March.

“Whilst some will see an increase in the cost of their purchase, the upcoming changes are only set to impact a small proportion of the market and the one message that we’ve heard consistently from agents is that any fallout is expected to be minimal and short lived.”

He added: “Perhaps the most interesting takeaway is that many agents believe the market landscape remains largely balanced and so whilst we may have seen an increase in buyer activity levels in recent months, we’re yet to see the pendulum fully swing towards a seller’s market.”

Sellers won’t reduce prices

The firm’s survey also found that one in five purchasers (21%) remain unprepared for a potential cost jump, risking financial strain if they miss the cut-off.

Although 66% of agents foresee more deals collapsing post-deadline, 51% predict only a slight uptick in failures.

Meanwhile, sellers appear unmoved, with 57% unwilling to lower asking prices to cushion buyers facing increased expenses.

Looking ahead, 66% of agents anticipate a dip in demand after the deadline, yet 45% of those expect it to be a brief adjustment.

Nearly half (47%) view the market as evenly poised between buyers and sellers, suggesting stability amid the flux.


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David Judd

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10:24 AM, 23rd March 2025, About 4 weeks ago

A deadline is a deadline, someone is always going to miss out. Can't keep changing the deadline

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