It has been announced today that the stamp duty payable on second homes will rise from 3% to 5% as of tomorrow, that’s the 31st of October 2024, which if you excuse my pun is a scary thought!
Will we now see lots of investor purchases withdrawing from property purchases meaning that first time buyers can swoop in and bag and ideal home before Christmas… time will tell.
If you would like to discuss how this change in taxation could affect you please do give us a call on (01603) 432000
