Alex Cann

6:30am - 10:00am

Email the studio

Diana Ross

Upside Down

Listen Live Podcasts

Homebuyers rush to beat stamp duty deadline

Monday, 20 January 2025 11:19

Patrick McCutcheon, head of residential at Dacre, Son & Hartley

Yorkshire’s largest independent estate agent, Dacre, Son & Hartley, is reporting a distinct upswing in the number of homebuyers who want to complete their purchases before stamp duty thresholds increase on 1st April 2025

The company, which has 18 offices across West and North Yorkshire, is currently selling dozens of homes to buyers who have made the end of March their target date to move home, including several who only made offers during the early weeks of January.

During October’s Budget, Chancellor Rachel Reeves announced that temporary increases to stamp duty thresholds that were put in place in 2022, would end on 31st March 2025.

Currently, homebuyers don’t pay stamp duty on properties below £250,000, but this will drop to the previous level of £125,000 at the start of April.

The threshold requiring first-time buyers to pay stamp duty will also fall from £425,000 to £300,000.

In the Budget, the Chancellor also increased the stamp duty surcharge for second homes and buy to let properties from 3% to 5% overnight.

Patrick McCutcheon, head of residential at Dacre, Son & Hartley, said:

“The next couple of months are going to be busy for anyone working in residential property including estate agents, mortgage brokers, surveyors and those in conveyancing.

“We’ve certainly seen a surge of buyers who want to complete their purchases before stamp duty costs increase and there are lots that have set the end of March as their deadline, even though a surprising number of these only made offers during January.

“However, for anyone else who wants to take advantage of the reduced stamp duty thresholds, who hasn’t yet had an offer accepted, the clock is ticking."

Dacre, Son & Hartley was founded more than 200 years ago and is Yorkshire’s largest independent estate agent with 18 offices across North and West Yorkshire.

More from Local news

Strong A Level performance celebrated by county’s schools

Students across North Yorkshire are celebrating after receiving their A Level, BTEC and T Level results today (Thursday).
Main section of A59 Kex Gill route set to open 'within weeks'

The main section of the new A59 Kex Gill route between Harrogate and Skipton is set to open within weeks.
Successful launch for Craven Court's new independent bookshop

A new independent bookshop has celebrated a successful first week in Skipton town centre.
Free family music workshops coming to Skipton this weekend

Families are being invited to take part in a series of free music workshops in Skipton this weekend.
Skipton streets targeted in £27,500 chewing gum clean-up

Busy areas of Skipton are set to receive a chewing gum clean-up after North Yorkshire Council secured £27,500 in new funding.
Police invite residents' views on Skipton Bus Station

Police are inviting residents to have their say on anti-social behaviour at Skipton Bus Station.
Rise in number of children in care contributes to Council's £10m overspend forecast

Costs due to a rise in the number of children in care has contributed to North Yorkshire Council forecasting a £10m overspend for the financial year.
Skipton coffee company celebrates top Great Taste award

Skipton-based Coffee Care is celebrating after receiving a coveted three-star Great Taste award for the third time.
Teenagers sentenced after terrifying knife-point robbery in Skipton

Two Keighley teenagers have been handed suspended prison sentences after luring a classmate to a Skipton park before threatening him with a knife, beating him and stealing more than £800.
North Yorkshire schools set for £6.8m improvement programme

School buildings across North Yorkshire could benefit from a £6.8 million programme of improvements as the council looks to tackle a growing backlog of repairs.
Skipton Business Awards finalists revealed after more than 1,200 nominations

Skipton BID has announced this year's Business Awards finalists after more than 1,200 nominations.
Yorkshire children invited to nominate their parents to be 'slimed' on CBBC

Children across Yorkshire are being invited to nominate an adult in their life to be covered in slime live on CBBC.
Fresh calls for school transport changes to be abandoned amid claim council is ignoring own policy

North Yorkshire Council is facing fresh calls to abandon its controversial new home-to-school policy after it emerged that the authority was not following its own rules on how to assess eligibility.
Funding agreed to progress work on Skipton leisure hub redevelopments

North Yorkshire Council has approved the release of £360,000 to progress plans redevelop two leisure centres.
Community rallies to help elderly driver find 'missing' car in Skipton

The Skipton community has been thanked for rallying together to help an elderly driver find his car after he forgot where he had parked it.
Dales Dazzler trail running event returns to Skipton

Runners are set to take on some of the Yorkshire Dales’ most scenic trails when the Punk Panther Dales Dazzler returns to Skipton later this month.
Everything you need to know about Skipton Pride this weekend

Skipton Pride returns tomorrow (Saturday 8th August) for a day of live music, drag performances and family-friendly entertainment.
Police appeal after driver forgets where car was parked in Skipton

A police appeal has been launched after the owner of a car forgot where it was parked in Skipton.
Shoplifter caught trying to dump stolen goods in Skipton bin

A man has been remanded in custody after allegedly trying to dispose of stolen goods in a rubbish bin while being watched by police in Skipton.
Councillor breaks national fundraising record with charity head shave

A North Yorkshire councillor has broken national records by raising more than £17,000 for Macmillan Cancer Support after having head and beard shaved.