Your Skipton Radio

6:00pm - 6:30am

Email the studio

Michael Buble

Haven't Met You Yet

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

Herriots Hotel to host Wear Pink Afternoon in aid of Breast Cancer Now

Herriots Hotel is inviting people across Skipton to don their favourite pink outfit and support a special fundraising afternoon in aid of Breast Cancer Now this weekend.
Skipton Mayor to open Whinfield Bowling Club's open day

Whinfield Bowling Club has announced that the Town Mayor of Skipton will officially open their Open Day.
BBC Masterchef runner up to open café bar on Sheep Street

A brand new café bar will open on Sheep Street are taking bookings from September.
Craven College celebrates excellent Ofsted report

Craven College is celebrating the publication of its latest Ofsted report, which has recognised the College's excellence across a number of key areas.
Popular village pub closes with immediate effect after more than seven years

The Goats Head in Steeton has announced it has closed with immediate effect after more than seven years under its current owners.
Skipton pub loved by many announces closure

The Albion Pub in Skipton has announced it has closed its doors with immediate effect.
Skipton residents urged to put bins out earlier as hot weather continues

Residents across the Skipton area are being urged to put their bins out earlier than usual over the next two days as collection crews continue working in the hot weather.
Skipton Colour Run raises £6,500 for academy students

The second Skipton Colour Run has been hailed a huge success after raising an impressive £6,500 to support students at The Skipton Academy.
Council urged to lower speed limit through Embsay and Eastby

Community leaders have made renewed calls for a 20mph speed limit to be introduced through Embsay and Eastby.
Keighley arts centre unveils adult learning plans

A multi-million pound arts centre will also help hundreds of adults learn new skills and qualification.
Silsden gardeners get ready for Open Gardens Weekend

This year's Silsden Open Gardens weekend is on Saturday 27 and Sunday 28 June, giving garden enthusiasts a chance to explore around gardens, including those of Ecology Building Society’s Head Office.
Solstice runners raise £25,000 for Sue Ryder

From the rolling hills of Yorkshire to coastal trails in Turkey, runners across the globe marked the longest day of the year by taking part in the Sue Ryder Solstice Saunter - raising over £25,000 for Sue Ryder Manorlands Hospice.
Amber heat warning issued for North Yorkshire

The Met Office has issued an amber warning for extreme heat covering North Yorkshire, with the alert running from Wednesday night through Thursday.
Brooklands school visit Skipton Hospital to learn the importance of nurses

Aspen class from Brooklands School paid a special visit to Skipton Hospital last week.
Skipton MP Meets local councillor and residents to discuss road safety concerns at Skipton Estate

Sir Julian Smith MP has met with residents, local campaigners and North Yorkshire Councillor David Noland to discuss road safety concerns around the Corner Fields Estate in Skipton.
Bin crews to start earlier this week due to the heat

Bradford Council bin crews will be starting an hour earlier this week to avoid possible heat related health issues.
Still time to sign up for Solstice Saunter on Sunday

There is still time to sign up for this year’s Solstice Saunter through the beautiful landscape of the Bolton Abbey Estate on Sunday 21 June 2026.
Leeds Bradford Airport to launch weekly flights to Santorini

Leeds Bradford Airport is set to launch weekly flights to the popular Greek island of Santorini - starting next Summer.
Addingham Gala Festival set to be 'Out of this World'

Addingham Gala Festival returns on Friday 10th and Saturday 11th July and this year's theme is 'Out of this World'.
Transdev partners with Yorkshire and North West Air Ambulance charities

Regional bus operator Transdev has announced a new charity partnership with Yorkshire Air Ambulance and North West Air Ambulance Charity.