Discover and read the best of Twitter Threads about #stampouttheduty

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Warning signs are flashing red for the property market as indicators suggest prices could plunge by 6%+.

@MariannaHunt5 reveals 5 things the data is telling us about a slump and how the end of the stamp duty holiday could make things worse (a #thread 👇) telegraph.co.uk/property/buy/f…
1️⃣
Property values are already starting to fall, with the drops accelerating each month, according to conveyancing quote data from @reallymoving 👇

Values could slump even further as those who miss the stamp duty holiday try to negotiate a price cut with their seller…
2️⃣
The end of the stamp duty holiday will distort prices further, as history shows 👇

When the current tax holiday ends, on the very same date, there will be an "inevitable" drop in demand, according to @Savills.

@CapEconomics has forecast house price falls of 5% in 2021…
Read 7 tweets
~ a #thread 👇

The @Telegraph is today launching #StampOutTheDuty – a campaign calling on the Government to extend the stamp duty holiday to prevent chaos from engulfing the property market and derailing Britain's post-Covid recovery telegraph.co.uk/property/uk/pr…
325,000 buyers mired in Covid-related delays will miss out on savings of up to £15,000 if the tax break is scrapped, according to @TwentyCi.

It's feared 100,000+ of them could then pull out of deals, potentially hammering sales volumes, harming the economy and hitting prices…
"If the Chancellor does stop the holiday, I just think chaos will ensue," said @PhilSpencerTV.

"It only takes one person in the chain for four or five sales to fall through. The whole thing will come to a crashing halt and deals will fall off the shelf left, right and centre"…
Read 6 tweets

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