Thread by @TeleProperty

~ 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"…

Stamp duty changes have triggered major transaction spikes/troughs (👇) and the cliff edge created by ending the holiday could lead to a crash.

@Zoopla has forecast a 20%-30% drop in sales between April and June this year – and a 10% hit for the last six months of 2021…

"There's little logic in doing these measures and then pulling the rug out from under estate agents by having the cliff edge of the stamp duty holiday," said @RSMUK's Chris Etherington 👇

"The property market will literally drop off," added @CAtradebody's Beth Rudolf…

Read more about our #StampOutTheDuty campaign and how ending the tax break will leave hundreds of thousands of buyers poorer and bring the housing market boom to a crashing halt here: telegraph.co.uk/property/uk/pr…