Stamp duty holiday called for as market slows

The Royal Institution of Chartered Surveyors (RICS) is urging the government to introduce an emergency stamp duty holiday to help revitalise the housing market after it came to a standstill as the COVID-19 crisis gripped the nation. Hew Edgar, of RICS, said: “The Government will need to start considering medium and long-term measures that could assist a post-pandemic housing market. As we start to emerge from this crisis, however, it is likely that the finances of potential homebuyers will be under strain, and the burden of stamp duty could put buyers off.” Edgar continues: "For those who can afford to move they may lack confidence in the market, adding to the slowdown. A stamp duty holiday could be one of the ways to reactivate the housing market quickly as a short-term measure.”

The Daily Telegraph (08/04/2020)