The following contributor article on the housing market and stamp duty is from Tiptree Homes Estate Agents:

Big savings coming to an end for anyone looking to buy a home

With only 3 months left until the Stamp Duty Holiday ends the UK property market is still booming and with up to a £15,000 discount up for grabs, it's easy to understand why.

Buyers are now rushing to find their new home and push through their purchase. The reason for this is that any property purchase that has not completed by the 31st of March will not receive the huge discounts currently on offer.

Just how much money will they save?

Below is a list of the savings on offer, put in place by the UK government in the summer of 2020.

-Purchase price £200,000. After 31st March stamp duty will be £1,500 (currently £0)

-Purchase price £300,000. After 31st March stamp duty will be £5,000 (currently £0)

-Purchase price £400,000. After 31st March stamp duty will be £10,000 (currently £0)

-Purchase price £500,000. After 31st March stamp duty will be £15,000 (currently £0)

-Purchase price £600,000. After 31st March stamp duty will be £20,000 (currently £5,000)

-Purchase price £700,000. After 31st March stamp duty will be £25,000 (currently £10,000)

-Purchase price £800,000. After 31st March stamp duty will be £30,000 (currently £15,000)

With regard to the new national lockdown, both sellers and buyers should be reassured that as with the previous lockdowns the property market is still open and viewing

homes is acceptable as long as government guidelines and social distancing rules are adhered to.

What does this mean for people looking to sell?

For homeowners looking to sell, this is also cause to push and get their property on the market in the coming weeks, with no certainty or confirmation yet that the stamp duty holiday may be extended, the property market may see a dip in the coming months.

No-one can predict the market, but what is certain is there is currently an incentive for buyers and data shows it's boosted the market and the amount of buyers currently looking. With the incentive taken away, a drop on the number of buyers and therefore property prices could be seen in the coming months.

You can get in touch with Tiptree Estate Agents on 01621 493433 or via their website via the link here. Alternatively, you can contact Tiptree Homes by email via the link here.