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Sunak's stamp duty holiday extension has merely inflamed the housing market | Nils Pratley


Throwing money at an already heated market looks nonsensical and could lose the Treasury £2bn
The chancellor extended the deadline for the £500,000 zero band on stamp duty in England and Northern Ireland until 30 June. Photograph: Guy Bell/Rex/Shutterstock
The chancellor extended the deadline for the £500,000 zero band on stamp duty in England and Northern Ireland until 30 June. Photograph: Guy Bell/Rex/Shutterstock
Tue 4 May 2021 14.52 EDT
Last modified on Tue 4 May 2021 17.05 EDT
Surprise, surprise. Presented, or so they thought, with an end-March deadline to save a few thousand pounds on stamp duty, buyers rushed to complete their house purchases. Mortgage lending in the month reached a new record. ....

New Zealand General , New Zealand , United Kingdom , Northern Ireland , Oxford Nanopore , Pascal Soriot , Robin Klein , Rishi Sunak , Wellington Management , புதியது ஜீலாந்து ஜநரல் , புதியது ஜீலாந்து , ஒன்றுபட்டது கிஂக்டம் , வடக்கு ஐயர்ல்யாஂட் , ராபின் க்ளீன் , ரிஷி சுனக் , வெலிங்டன் மேலாண்மை ,

Sunak's stamp duty holiday extension has merely inflamed the housing market


Sunak’s stamp duty holiday extension has merely inflamed the housing market
Nils Pratley
© Provided by The Guardian
Photograph: Guy Bell/Rex/Shutterstock
Surprise, surprise. Presented, or so they thought, with an end-March deadline to save a few thousand pounds on stamp duty, buyers rushed to complete their house purchases. Mortgage lending in the month reached a new record.
It requires no imagination to see what will happen in June, the extended deadline for the £500,000 zero band on stamp duty in England and Northern Ireland – an extension announced very late in the day by the chancellor, Rishi Sunak, in his March budget. There will be a repeat. Then the drama will be replayed in a miniature form in September as buyers try to get on the right side of the taper from £250,000 to £125,000. ....

New Zealand General , New Zealand , United Kingdom , Northern Ireland , Oxford Nanopore , Bell Rex Shutterstock , Pascal Soriot , Robin Klein , Guardian Photograph , Rishi Sunak , Shutterstock The , Wellington Management , புதியது ஜீலாந்து ஜநரல் , புதியது ஜீலாந்து , ஒன்றுபட்டது கிஂக்டம் , வடக்கு ஐயர்ல்யாஂட் , ராபின் க்ளீன் , பாதுகாவலர் புகைப்படம் , ரிஷி சுனக் , வெலிங்டன் மேலாண்மை ,