Estate agents report boost before stamp duty changes

Estate agents in Nottingham are seeing a last minute surge of interest from first time buyers looking to buy before the end of the Stamp Duty holiday in March.

The Treasury announced in the autumn that it would end the current stamp duty tax relief for first time buyers on March 24. The scheme, introduced by the previous Government, temporarily removed the 1% charge for first-time buyers purchasing properties up to £250,000.

At haart, for instance, which has branches across Nottingham, staff have reported a steep rise in applicant levels among first time buyers over the last few weeks.

They are registering over 5,000 potential house buyers per week.

Managing director Russell Jervis, says: "Our applicant levels have gone through the roof since Christmas and show no sign of slowing down, particularly among first time buyers.

"The news that the Stamp Duty relief is to end has really focused their minds and we're see lots of people contacting us keen to move into their first home, particularly at the lower end of the scale, namely the sub-£150,000 market.

"Although the deadline is fast approaching, there is still time for first time buyers to work with their local haart branch to find the right first home for them."

Other local estate agents that may be able to advise or help you take advantage before the changes come into force are RE/MAX on Derby Road, Rowell Property Services on Burton Road, or David James on Carlton Hill.