Did the Stamp duty holiday boost the housing market?
According to research, 44% of home buyers in England were eligible for a Stamp Duty Land Tax (SDLT) holiday (or claimed relief) in 2021, totalling 566,700 sales. Those qualifying in the 5 years preceeding 2020 averaged just 6% which ighlights the impact this incentive has had on the housing market.
The SDLT holidays have hugely contributed to sales volumes increasing by 43% in 2021, following six years of falls.
It is estimated over 60% of purchasers in Wales benefitted from a reduction in stamp duty taxation during the first six months of 2021 (Stats Wales).
Source: Dataloft, HMRC (residential sales only)
