Finefair Ltd works hard to give investors and landlords the best support. One thing we do is monitor opportunities that could help clients to expand their portfolios and earn better returns. In addition we work hard to manage assets properly. This is why we are the leading name for block management Wandsworth has.

The end of the Stamp Duty Holiday

In September this year the Stamp Duty Holiday finally came to an end. It was first introduced on 8th July 2020 to help reinvigorate a property market struggling due to COVID. With it, people would not have to pay tax on home purchases up to £500,000. They would only pay the duty on any value over this.

Originally the end of the Holiday would have been 30th June 2021. However, there was an extension to take it to 30th September 2021. The latter phase had a smaller threshold though, with no duty on purchase up to £250,000.

The goal of the tax cut was to make it more affordable for people to buy homes, whether they were looking to get on the ladder, move up it, or invest. It had an incredible impact, inspiring lots of transactions all over the country. This in turn pushed up house prices.

Where did people benefit the most?

New data from the Land Registry shows that during the Stamp Duty Holiday there were over 776,000 transactions in England. By region, the most were in the South East (147,010), North West (100,712), and East of England (95,906). London was in fifth place (86,552).

Overall the total amount people saved on stamp duty during the period was an astonishing £4.593billion. By region, the most successful area in terms of savings was once again the South East (£1.212billion). Surprisingly, London had the second spot with £1,019billion. Third was the East of England at £678million.

By Borough

As a whole, London had a very good period during the Stamp Duty Holiday with thousands of buyers saving on the tax. By Borough, the biggest total savings were in Wandsworth. Here there were 4,891 transactions and buyers saved over £65million. This is 6.5% of the total savings for the whole city.

Bromley was the second most successful area during the period. There were more transactions in the Borough at 5,211, but the savings were slightly less at £60million. This was 5.9% of the total for the city.

At the other end of the list, the City of London had the toughest time. There were just 126 transactions here, generating £1.8million in savings. This was just 0.2% of the total for the capital.

Arranging expert block management in Wandsworth

Finefair Ltd has been on hand throughout the pandemic to help landlords and investors to take care of their assets. We have even given them the support they need to expand their portfolios in some quite tricky conditions.

If you have a portfolio and want the same high quality service, you can contact us. We can deliver the best block management Wandsworth has to offer. It can fit perfectly well with our other services, including guaranteed rent and council leasing. That means we can provide a full package of convenient, high value solutions.