No stamp duty for six in 10 St Albans property sales
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St Albans has one of the lowest percentages of stamp duty exempt properties currently for sale in the UK, new data has revealed.
According to research from Andrews Property Group, 60.3 per cent of homes on the market in the cathedral city are priced up to £500,000, the threshold at which stamp duty is payable.
This places St Albans close behind London, which has the lowest percentage of stamp duty exempt properties currently on the market (36.1 per cent) and Winchester (52.1 per cent).
At the other end of the scale is the ‘99 per cent club’, where the vast majority of homes on the market are exempt from stamp duty.
All of the top 10 are in the north of England, with Bootle topping the list with 100 per cent of homes currently for sale having an asking price of £500,000 or under - the only town where every property is stamp duty free.
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The £500,000 stamp duty free threshold was temporarily introduced by Chancellor Rishi Sunak on July 8, and will last until March 31 2021.
David Westgate of Andrews Property Group said: “Our research shows just how impactful the government’s stamp duty holiday has been, and many towns are benefitting from a near stamp duty free environment.
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“The stamp duty freeze has lit the touchpaper, and galvanised the property market. For sellers who might be thinking that it’s worth hanging on to see if prices continue upwards, my advice would be don’t wait.
“Demand is high at the moment with plenty of motivated buyers keen to take advantage of the stamp duty holiday and competitive mortgage rates.”