Rightmove has released new figures estimating how many people benefitted from the stamp duty holiday and the projected total saving in England.
The property portal estimates that around one million households benefitted from a stamp duty saving since the holiday was announced in July last year. This totals an estimated saving of £6.1bn.
As the holiday ends, buyer demand in England is 43% higher than in September 2019, the data shows.
Tim Bannister, Rightmove’s property expert commented: “Around a million households made tax savings since last July, which provided some people with an added incentive to move, especially in the higher price brackets.
“We’re still seeing much higher levels of demand for homes than in 2019 so it’s clear there have been a number of other reasons for making this summer the time to move to a new home.
“There are still savings to be had for first time buyers, so this hasn’t signalled the end of savings altogether and we’re expecting the market to stay busy for the rest of the year and into next year.”
Comments (2)
24 hours later, Government figures emerge on another trade press website, showing a YoY decrease in SDLT receipts of £2.8bn.
Odds are we will never know the exact ‘saving’ involved in the exercise. But the two jumping to the front of the queue with back-of-fag-packet “statistics” will be wearing the ears of the donkey for their outrageous, poorly thought-out guesstimates.
Another ‘report’ of irresponsible statistic shouting.
Firstly, the Rightmobe claim is for the UK, not just England as stated above.
Secondly – why hasn’t EYE queried these figures? For example:
* Is the figure quoted the total SDLT figure applicable to the properties, or just the saving made?
* Is the FTB increased allowance element factored in?
* What about second home/investor purchases?
* Non-UK nationals?
I’m not a betting man – but my money would be on no thought of any of the above having been taken into account. Just numbers for the sake of it.
Embarrassing for the industry if that be the case.
Perhaps EYE should take this up with Mr Bannister?