Chancellor Rishi Sunak’s landmark announcement of a stamp duty holiday until the end of next March is a huge boost for Somerset home buyers that will help get people moving and save movers thousands of pounds.
The tax threshold for home purchases has been temporarily increased from £125,000 to £500,000, in a move that has been welcomed by home hunters and the housebuilding industry.
It means buyers could take advantage now and save up to £15,000 when they buy a new home.
Formed in January 2020, Vistry Group brings together the energy and talents of Bovis Homes, Linden Homes and the newly-named Vistry Partnerships (formerly Galliford Try Partnerships). The group’s chief executive, Greg Fitzgerald, commented: “The announcement on stamp duty is hugely welcome and the timing could not be better. The sector, like many across the economy, has faced significant challenges in the last few months and we believe this initiative will give customers the extra confidence needed to take the exciting step of owning a home or moving up the property ladder.
“We have seen that interest from potential buyers has been encouragingly strong and robust week-on-week since the lockdown started to ease, and we believe this move on stamp duty will go a long way towards reinvigorating the market.”
Sue Scholfield, western sales and marketing director for Vistry Group, added: “The announcement is great news for all house buyers in Somerset, but especially for second-steppers, many of whom will now be able to move into a larger property which meets their needs without the added financial pressure of having to pay thousands of pounds in stamp duty.”
In Somerset, Linden Homes is currently selling three, four and five bedroom homes at Ensleigh in Bath, while Bovis Homes has three and four bedroom homes available at Priory Fields in Wells, plus three, four and five bedroom homes at The Hamlets in Milborne Port.
Contact: Emma Mackay, Bovis Homes and Linden Homes, 077383 12960, firstname.lastname@example.org
21 July 2020
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