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July 19 2021 Update

The easing of covid restrictions as a result of the vaccination programme demonstrably working is clearly positive news for everyone and we look forward to returning to a more normalised existence in the weeks ahead.

The property market has remained open throughout most of the lockdown stages during the height of the pandemic and, largely courtesy of Government holiday on stamp duty charges, has enjoyed an extremely buoyant period with high volumes of transactions taking place ahead of the deadline of 30th June.

The June 30th deadline is however not the end of a discount or holiday period as a reduced benefit remains in place until 30th September. This sets the exemption threshold at £250,000 rather than £500,000 and so will still see many properties completely exempt and for those buying at £500,000 or above the benefit reduces from £15,000 to £2,500. Whilst this is a significant amount, buying a property is a huge decision both financially and emotionally and with people living, on average, in a property for twenty plus years, even a £12,500 saving will actually prove to be less than the price of a coffee a day over the period!

First time buyers remain exempt up to £300,000 and the 3% surcharge on second properties will continue to apply.

The summer period will now inevitably see a reduction in the frenzy we saw leading up to the end of the stamp duty holiday but with economic recovery set to be strong over the next two years we do not see a downturn looming. Whilst sales activity may be less frantic in the second half of 2021 there are always people who have to move and we have the experience gained over many years to be able to guide and advise our clients and customers accordingly.

Our approach to emerging from restrictions will be positive but cautious and in line with the requirements of our clients and customers and, crucially will respect their views. Our office is fully open but we will continue with our enhanced cleaning routines and will wear face masks where requested and restrict close personal contact such as handshaking. We believe that, as a country, we have to both get on with our lives but also learn to live with the virus in a sensible way.

One of the benefits of being a long established and successful business is the significant trust we have built up in the community and we always put our clients and customers at the centre of everything we do. We take the time to listen and understand what people are looking for from their home move and we take a proactive and positive approach that doesn’t ignore concerns and fears but finds solutions to make the process as straightforward as possible.

We look forward to our friends in other local businesses getting back on their feet and will help, wherever possible, in assisting them to do so.

We are here to help with any queries or questions you may have and to provide you with up to date, professional advice on property values and all aspects of moving home.

With kind regards.

John


Call, email or write to us at our office in Wellswood.

We will be delighted to answer any question or provide information on our beautiful town and surrounding area.

John Couch The Estate Agent
43 Ilsham Road
Wellswood
Torquay
Devon
TQ1 2JG

Telephone: 01803 296500
Email: [email protected]

Opening Times
Monday - Friday: 9:00AM - 5:30PM

Viewing out of hours also by appointment.
(We are closed Sundays)

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