Since the beginning of the Covid-19 pandemic the health crisis has occupied centre-stage in Government policy. Now, following the Prime Minister’s speech last week in Dudley and the Chancellor’s Summer Statement today in the House of Commons, addressing the economic crisis and ensuring recovery has moved alongside the health crisis to the fore of Government policy. Here, we provide an overview by answering the key questions following the Chancellor’s latest suite of measures.
This should provide a boost to the housing market which had been weakened substantially by uncertainty over the future economic picture. While price falls have been modest, the number of transactions fell drastically during the lockdown and should now pick back up as purchasers look to benefit from this reduction in stamp duty by moving before 31st March 2021.