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Robyn Hall
Just Retirement is going on the road over the next few months. This seminar is in London.
Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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House moves delayed
27 August, 2008
An overwhelming 83% of home movers are pushing back their moving date or postponing their entire move indefinitely, as a result of the Government's failure to confirm the future of stamp duty tax.
On the 11th August, less than one week after it was first leaked that the Chancellor is considering suspending stamp duty payments in an effort to boost the housing market, Moveme.com asked its database of home movers if the news had a) made no difference to their plans, b) pushed back their moving date, or c) postponed their move indefinitely.
Almost 1,500 movers responded by saying that only 17% were unaffected, while 20% had pushed back their moving date and 63% were postponing their move.
Moving dates registered by users on the site have been pushed back from 37 days ahead to 64 days, demonstrating how the Government's refusal to confirm whether a stamp duty suspension is in the pipeline has further stalled activity in the market.
Charles Wasdell, director of Moveme.com, said: "It is plain to see the devastating effect the Government is having on the housing market, as it keeps tight lipped about the possibility of a stamp duty holiday. The Chancellor must either press ahead with the legislation immediately or confirm that there will be no stamp duty holiday, so the people who are buying property move ahead with their purchase.”
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