Stamp Duty Ending

MobileSaver

Crashy_Time said:

MobileSaver said:

Crashy_Time said:

I can see sellers having to pay this tax eventually.

If sellers end up having to pay SDLT do you think that will lead to lower or higher house prices?

I don`t know, what do you think?

Well let's see...

If sellers know they will also have to pay out thousands of pounds extra in SDLT do you think they are more likely to ask and accept a higher or lower selling price?

If buyers know they do not have to find thousands of pounds extra in SDLT to buy somewhere are they more likely to offer a higher or lower buying price?

So all other things being equal I think there's no question that moving SDLT from buyers to sellers will result in higher house prices.

Crashy_Time

The main mover of prices will be the state of the economy and bank lending/deposit requirements, not kite flyers or buyers desperate to overpay, in fact any hint of price drops will see those buyers evaporate anyway.

theartfullodger

quattros said:

Stamp Duty Ending

Ain't going to happen.  Stamp duty is going to carry on.

mcpitman

Doubt it, unless this Lockdown tightens and stops the housing market.
Banks and housing are too much of a piece of the economy to stop for any longer than absolutely necessary.

Thrugelmir

The Treasury needs the tax revenue. Giving a break to those who don't actually need it achieves nothing. 

Crashy_Time

mcpitman said:

Doubt it, unless this Lockdown tightens and stops the housing market.
Banks and housing are too much of a piece of the economy to stop for any longer than absolutely necessary.

That is why they have to move it on to sellers if they want FTB`ers to keep entering the bubble at the bottom, although I think they are going to put a full stop to the housing market soon because the way this virus is behaving (and the way people are behaving) has got the PTB very worried it looks like. People just need to chill and forget about moving house for a while TBH.

Crashy_Time

Thrugelmir said:

The Treasury needs the tax revenue. Giving a break to those who don't actually need it achieves nothing. 

The people trying to scrape their way onto the housing "ladder" do actually need it though, that is why there has been a mad spike in housing activity as people get suckered into thinking saving a few grand is worth overpaying tens of thousands for basic accommodation, it makes sense at the monthly payments level if they can just get in the door, alas that is how a lot of people have been brainwashed to think!

grumiofoundation

Crashy_Time said:

Thrugelmir said:

The Treasury needs the tax revenue. Giving a break to those who don't actually need it achieves nothing. 

The people trying to scrape their way onto the housing "ladder" do actually need it though, that is why there has been a mad spike in housing activity as people get suckered into thinking saving a few grand is worth overpaying tens of thousands for basic accommodation, it makes sense at the monthly payments level if they can just get in the door, alas that is how a lot of people have been brainwashed to think!

Why has the average house price in wales gone up by basically the same (think actually slightly more) as England then, despite a far less generous LTT (equivalent of stamp duty) holiday? 

steve866

Crashy_Time said:

Thrugelmir said:

The Treasury needs the tax revenue. Giving a break to those who don't actually need it achieves nothing. 

The people trying to scrape their way onto the housing "ladder" do actually need it though, that is why there has been a mad spike in housing activity as people get suckered into thinking saving a few grand is worth overpaying tens of thousands for basic accommodation, it makes sense at the monthly payments level if they can just get in the door, alas that is how a lot of people have been brainwashed to think!

People trying to ‘scrape’ onto the ladder prior to the holiday didn’t have to pay up to £300k anyway? 

If anything stamp duty in general is cash cow for the government and pushes prices down from their ‘true’ market rate?

SpiderLegs

Crashy_Time said:

mcpitman said:

Doubt it, unless this Lockdown tightens and stops the housing market.
Banks and housing are too much of a piece of the economy to stop for any longer than absolutely necessary.

That is why they have to move it on to sellers if they want FTB`ers to keep entering the bubble at the bottom, although I think they are going to put a full stop to the housing market soon because the way this virus is behaving (and the way people are behaving) has got the PTB very worried it looks like. People just need to chill and forget about moving house for a while TBH.

The majority of FTBers don’t pay stamp duty or only pay a relatively small amount. Those that do pay large amounts are not ‘scraping’, they are already loaded.
so your suggestion is complete rubbish as per.

When do you think the market will be locked down? A week? A month?
for how long?

come on crashy, you’re great at general speculation but not too hot when it comes to actual predictions.