Stamp Duty Holiday extended

Stamp Duty Holiday extended

Mathew Anwyl, Anwyl’s housing managing director, said:

We are pleased that the construction sector has been recognised in the Budget for the huge contribution it makes to the UK economy and we are ready to play our part in the economic bounce back from the Covid-19 pandemic.

The help announced for home buyers is positive news for the industry. We’re pleased that the stamp duty holiday on properties up to £500,000 has been extended to June 30, which will enable many more transactions to go through. It’s also good news that the nil band for stamp duty will stand at £250,000 up to the end of September, saving many more buyers money at a critical time.

The housing market in North Wales and the North West of England remains buoyant but Government support remains key to its long term future. Government guarantees on 95% mortgages should certainly provide an additional boost to those buying with a smaller deposit. However, we would like to see longer term reform of stamp duty to ensure it does not present a significant barrier for purchasers when it returns to pre-pandemic levels.

As a local apprentice employer we were also pleased to see the incentives available to businesses offering apprenticeships.  The construction sector is still facing a skills shortage so apprenticeships are vital to the future success of our industry. Not only that, they provide young people with essential skills and qualifications to pursue a long term career in an industry with excellent prospects.