Budget 2021: Stamp duty extension would be 'fantastic news for buyers'

Stamp duty holidays, business rate concerns and furlough extensions are among the big issues members of the West Midlands property community are hoping Chancellor Rishi Sunak will address in his Budget speech this week.

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Media reports have already suggested that the current stamp duty holiday could be extended from March 31 to July.

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Dean Reeves, managing director of estate agency OneAgency in Stoke-on-Trent, would like to see the stamp duty holiday extended even further.

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He said: "This would be fantastic news for buyers who are already in the process of purchasing but are struggling to meet the deadline to complete.

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"Given the length of time most transactions are currently taking, it's unlikely to entice new buyers into the market as it could be optimistic for buyers involved in chains to find a property and complete within three months.

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"The ideal scenario would be for a holiday period for the whole of the year to encourage buyers who may be nervous to commit in these uncertain times, with a further review next year."

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