A chain of estate agents claims it is seeing a last-minute surge of interest from first-time buyers looking to buy before the end of the Stamp Duty holiday in March.
Staff across the 100-strong haart branch network are said to have reported a steep rise in applicant levels among first-time buyers keen to take advantage of the tax relief.
haart says it is registering over 5,000 potential house buyers per week at present.
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.
Russell Jervis, managing director of haart, said: “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.”
He said that although the deadline is fast approaching, there is still time for first-time buyers to complete.
Estate agency network Move with Us has warned that in practice, February 14 will be the last possible day for first-time buyers to make an offer on property and expect to complete by March 24, and then only if they are ‘legally ready’.
From March 24, first-time buyers will revert to paying Stamp Duty at 1% for properties between £125,000 and £250,000.
In confirming the end of the Stamp Duty holiday, the Government said it proved ‘ineffective’ in increasing numbers of first-time buyers.
This morning, the Halifax reported that house prices ticked up 0.6% in January, to stand at £160,907.
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Comments
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You have nothing to add then to his stupid comment.
@ Toad or Brian?
I have not read the original thread regarding the rantraves hypothetical question but i can still see the point he is making. It most certainly is not a request to make mortgages illegal but rather a question of how people place a value on an asset when its not bought using their own money.
simples!
Added by rantnrave on 2011-12-07 12:30:56
100% deposits, not 100% loans. What would happen to UK house prices if it became illegal to buy a property with borrowed money?
Rant, you lose little fella!
That comment was a brief correction to the previous poster's lack of attention and error (who was you Brian). This has been explained to you dozens of times over the last weeks (now months) and by several other posters. And you're still too ****ing thick to realise.
Taken out of context of the rest of that thread it is as meaningless as your existence Brian. A few months ago, there was a comment by a regular here that was lampooned by many. You are trying to recreate that Brian and no-one, repeat NO-ONE else sees anything in it but you. Could that be because you're too dim to have understood what it was about? I and several others seem to think so. And yet you will post it tomorrow, next week, etc.
Accept it Brian, your little campaign has FAILED. Someone like you should be used to failure, but you keep coming back for more.
Why not contact your MP about my comment, see what they can do. How about using the classifieds in your local newspaper? Why not get it printed and then do a leaflet drop round your neighbourhood?
Instead, you'll disappear from this thread, tail between your legs, only to appear once again with another daft user name trying to drum up interest.
Since you are such a failure, can only snipe from the sidelines and retreat as soon as the going gets tough, I'm sure there's a place for you in the French army...
Added by rantnrave on 2011-12-07 12:30:56
100% deposits, not 100% loans. What would happen to UK house prices if it became illegal to buy a property with borrowed money?
No argument rant. You said it. Simples.Sorry
I said it. You explain it (you can't though can you, 'cos you're too dim).
I've been trying to work out which GCSE I think you should study for Brian. Obviously you'll need to go for one at a time. I had thought something related to basic economics or a simple business course. Judging by the number of times you've posted that comment, thinking it says something that it doesn't, you'd better just go for straight English. Don't rush the course, because it will overwhelm you. Set yourself a realistic goal. Five years perhaps?
What's really entertaining is that despite your best efforts over the last months, not a single other regular on this site has said anything about that comment. Others who understood the context, are asking you why you feel the need to keep posting it.
You've failed to grasp that it's not me they're laughing at Brian. It's you, and it has been for several weeks. Feel free to keep posting it and highlighting your ignorance. it was mildly annoying for a while, now I think it's absolutely hilarious. For the three years I've been browsing property related forums, you are definitely the least informed poster I've come across and it's kind of you to remind me of that every day. Classic.
Since you've demonstrated that you are unable to contribute anything else meaningful to these discussions, I might just start posting that comment on every thread for you. What are you going to do then?
Feel free to keep cowardly sniping from the sidelines though. I'm enjoying this.
Your posts are meaningless pointless and useless probably like your existence.
Added by rantnrave on 2011-12-07 12:30:56
100% deposits, not 100% loans. What would happen to UK house prices if it became illegal to buy a property with borrowed money?
No argument rant. You said it. Simples.Sorry
Rantnrave
A lot of these posters who put negative/stalker comments about you and me are a chap called Nollag (MSE user name). He has mental health issues and creates multiple accounts to hide himself and originates from Hounslow. He is incapable of logical argument and replies in just abuse, he is really just a simpleton troll.
Spartacus
RE "30% of what exactly?"
30% of the max value of the house I will buy. So for example a £200k house, a £60K deposit. The bigger the deposit the better the mortgage rate. So with prices falling it makes sense to save that little bit extra. I also won't be able to buy till September with work and overtime so I might as well put that few months overtime to good use.
Stevesmith2011/Nollag
RE "Brit is delusional, he claims on another forum to have a large pad in Chelsea."
No Steve/nollag you are the delusional one and not only that the very mentally ill one, you need 136ing. I never claimed I lived in a large pad in Chelsea, just a simple flat there. You are making stuff up again you sad person.
Er, you need to have paid for teh house by March 24th, not agreed to start the conveyance.
Brit is delusional, he claims on another forum to have a large pad in Chelsea.
@Brit
'I've saved my stamp duty already and now looking to up my deposit to 30% from 25%. :)'
Good for you. 30% of what exactly? Todays prices or brits HPC prices. Surely you wont need a mortgage when property falls to the levels you are so sure about?
When did I say I want to make it illegal to borrow money to buy a property Brian? Go on, post the comment for the hundredth time and tell everyone why you get so excited about it... Except you can't, 'cos you're too dim to have understood what it meant.
To be honest, you used to be more entertaining when you came up with different points about me, getting angry that I copied & pasted things (which was certainly novel), accusing me of being a "keyboard warrior" etc.
It's really great to know that I've ruffled your feathers so much that you have to post in response to any comment I make. Good. I don't post on here to reinforce the stereotype that you seem to clearly be. It is my pleasure to educate illiterate uneducated muppets like you. Perhaps you wont believe the hype and jump into the next bubble that comes along (although having been declared bankrupt between now and then, no-one will be willing to lend you any money).
Since talk of house prices not rising obviously fires you up so much, here's a stat for you from today's Halifax data:
Average UK house price Jan 2012: £160,907
Average UK house price Jan 2005: £163,748
So, house prices haven't quite managed to double over the last seven years then... What are you going to do about that? Call the Samaritans, run and cry to your Mummy? At a guess you're going to post something about me being a leftie and on benefits... That's all you can do isn't it? Too dim to debate so post anonymously and throw playground insults from the side.
and twaddle posts continue to change nothing.
Lets make rants dream come true and make it illegal to borrow to buy, then everyone can get a tent.
I do think that first time buyers will pick up for a month or two and then die. I am looking forward to the stamp duty back again because prices should fall further after. I reckon but could be wrong the prices even with stamp duty will be cheaper as sellers get more desperate.
I've saved my stamp duty already and now looking to up my deposit to 30% from 25%. :)
If true, this means the second quarter of 2012 will see FTBs go even deeper into hibernation.
Bull**** !!!!!!!
I think the number 2 comment at 8:31 is just brilliant.
Certainly made me smile.
Andrews did a great marketing campaign with their open house thingy back in August/ September.
This is Spicey Faart doing the same thing.
Completely bogus, but they are at least trying.
That said I have only ever met 2 employees of said company that I would pee on if they were on fire.
at the rate of 5000 buyer a week and with only 7500 ish house for sale what will they do by the end of next week?when the stock has run out ?? Maybe they will share out their excess buyers with the rest of us.
Either Rant is sick or hasn't got to his desk yet, perhaps he is out viewing a flat?
That would be all the HPC'ers who are abandoning the cause to save £1600? Sorry boys and girls you have 5hit out! Even if you find a seller with a place you can afford they will have to withdraw when they realise there is no chance of them moving.
I watched 6 people in Tescos on Christmas Eve waiting for the last 5 Turkeys to be reduced down to a bargain price, they had even formed a very British queue. Unaware of the game along came a lady and put 2 of the slightly reduced Turkeys in her trolley and walked off oblivious to the row and disappointment that followed.
I think this os a last ditch attempt to win some sales a typica; chain corporate trick, been there had the t shirt.