Your Skipton Radio

7:00pm - 6:00am

Email the studio

Sabrina Carpenter

Espresso

Listen Live Podcasts

Homebuyers rush to beat stamp duty deadline

Monday, 20 January 2025 11:19

Patrick McCutcheon, head of residential at Dacre, Son & Hartley

Yorkshire’s largest independent estate agent, Dacre, Son & Hartley, is reporting a distinct upswing in the number of homebuyers who want to complete their purchases before stamp duty thresholds increase on 1st April 2025

The company, which has 18 offices across West and North Yorkshire, is currently selling dozens of homes to buyers who have made the end of March their target date to move home, including several who only made offers during the early weeks of January.

During October’s Budget, Chancellor Rachel Reeves announced that temporary increases to stamp duty thresholds that were put in place in 2022, would end on 31st March 2025.

Currently, homebuyers don’t pay stamp duty on properties below £250,000, but this will drop to the previous level of £125,000 at the start of April.

The threshold requiring first-time buyers to pay stamp duty will also fall from £425,000 to £300,000.

In the Budget, the Chancellor also increased the stamp duty surcharge for second homes and buy to let properties from 3% to 5% overnight.

Patrick McCutcheon, head of residential at Dacre, Son & Hartley, said:

“The next couple of months are going to be busy for anyone working in residential property including estate agents, mortgage brokers, surveyors and those in conveyancing.

“We’ve certainly seen a surge of buyers who want to complete their purchases before stamp duty costs increase and there are lots that have set the end of March as their deadline, even though a surprising number of these only made offers during January.

“However, for anyone else who wants to take advantage of the reduced stamp duty thresholds, who hasn’t yet had an offer accepted, the clock is ticking."

Dacre, Son & Hartley was founded more than 200 years ago and is Yorkshire’s largest independent estate agent with 18 offices across North and West Yorkshire.

More from Local news

Skipton Town Council announces vacancy for Councillor member

Skipton Town Council has announced a vacancy for a new councillor.
Five year Yorkshire Dales National Park plan backs nature-friendly farming

Yorkshire Dales National Park have announced that their five year plan will give priority to the nature and climate emergencies and the public can have their say.
Samaritans bring Brew Monday to Skipton

The team at Samaritans of Pendle, Burnley, Craven & Rossendale are bringing back Brew Monday to encourage people to reach out and seek support.
Airedale Hospital doctor achieves second place in Winter Spine sprint race

Dr Tom Hollins from Airedale Hospital came second place in last weekend's Montane Winter Spine Sprint race,
Skipton electrician to complete Ultra Marathon for children's charity

Adam Edmondson from Skipton has challenged himself to complete one of the UK’s toughest long-distance running events to raise funds for a charity.
Craven College to host Career fair in Skipton

On Wednesday 12th February, Craven College will be hosting its Apprenticeship and Careers Fair in Skipton.
Repair work to start on A59 at Kex Gill today

Work is due to start today (Thursday) to reopen a stretch of a key route in North Yorkshire which has been closed following a landslip.
Yorkshire Air Ambulance to add supporters' names to fleet of helicopters

To mark its 25th anniversary, Yorkshire Air Ambulance (YAA) is inviting supporters to become part of its lifesaving mission with the launch of its latest fundraising campaign, A Year Over Yorkshire.
Police issue CCTV images following jacket thefts in Skipton

On 10th December 2024, multiple jackets were stolen from at Cotswold Outdoors, Jerry Croft in Skipton.
Skipton Town Council offers community fund to organisations

Skipton Town Council are offering grants to local organisations which strengthen the community.
Knife bin set to be installed in Skipton this month

A secure knife bin is set to be installed in Skipton this month.
Glusburn choir feature on charity single for care sector

Choir group from Glusburn, Sing It! South Craven have featured on singers new charity single highlighting the care industry.
Works to repair A59 at Kex Gill delayed due to snow

Works to repair the A59 at Kex Gill have been delayed due to the weather, North Yorkshire Council has said.
Council reveal plans for greener and more cost-effective recycling service

Residents across North Yorkshire could benefit from a more environmentally-friendly waste and recycling service - which will also save taxpayers money.
500,000 half price train tickets up for grabs across North

Half a million tickets for train journeys across the North of England are up for grabs with 50% off the cost, Northern has announced.
Witness appeal after incident in Skipton

North Yorkshire Police have asked for witnesses to come forward after a threatening incident in Skipton.
North Yorkshire Council proposes 4.99% tax increase

North Yorkshire Council has proposed a council tax increase by the maximum 4.99% allowed by the government.
MP to meet Transport Secretary for Skipton-Colne rail link talks

Local MP Robbie Moore is to meet the Transport Secretary, Heidi Alexander, to push for the reopening of the Skipton to Colne railway line.
Airedale Hospital Charity to host Valentines Market to raise money

The Airedale Hospital Community Charity in Craven is hosting a Valentine's Market to help raise money for the charity.
Dayclubbers to return to Skipton for St Patrick's Day

Dayclubbers will be returning to Skipton at the Kooky Nightclub this March!