Housing market likely to remain busy

The housing market in Shropshire has been “exceptionally busy” in the last few months - and is likely to remain busy despite the strict Covid-19 restrictions.

That’s the view of legal experts at Lanyon Bowdler Solicitors who say the demand for property has soared in the wake of the stamp duty holiday.

The Government introduced the tax break in July 2020, meaning the first £500,000 of any property was exempt from stamp duty, potentially saving buyers up to £15,000.

Abigail Thomas, who recently joined Lanyon Bowdler’s residential property team in Shrewsbury, said: “The stamp duty holiday is due to end on March 31, so there has been a scramble from buyers trying to complete transactions before the deadline.

“There have been calls for the deadline to be extended, as the new lockdown will inevitably make it more difficult for everyone - whether you are buying or selling. But whether it is extended or not, the stamp duty holiday has certainly had a positive impact on the property market.

“We have been extremely busy in recent months, and particularly now with people eager to complete before stamp duty is reintroduced at the start of April.”

Abigail said Shropshire was a desirable area for property, especially with the boom in home working since the start of the pandemic.

“This area has always been popular, particularly with buyers moving from the south of England because you get so much more for your money here. The demand has grown steadily over the past 12 months, as home working is now the norm for many of us and people realise there is no need to live in the same location as their business."

Pictured: Abigail Thomas