Property sales that are worth £1.5billion are at risk of collapsing unless the Chancellor can be persuaded to extend the stamp duty holiday.
The staggering sum represents two-thirds of buyers nationwide who are in a chain where someone is dependent on completion before the March 31 deadline, according to lender Paragon.
Rightmove says about 100,000 buyers face shock tax bills because they will miss the cut off, with some estimates suggesting one in five deals will collapse as a result.
It has led to calls for a six-month extension. A petition has gathered more than 100,000 signatures and prompted a parliamentary debate.
Deal breaker: Property sales that are worth £1.5billion are at risk of collapsing unless the Chancellor can be persuaded to extend the stamp duty holiday
Why Northern Ireland is the only area in the UK where house prices are forecast to climb
it has been bolstered by demand from remote workers who are snapping up homes at lower prices on higher salaries
17 February 2021 • 6:00am
The average stamp duty holiday saving in Belfast is £700, compared to £15,000 in London
Credit: iStockphoto/Nigel Andrews
It is at the centre of the Brexit quagmire and the average home still costs 36pc less than it did before the financial crisis.
But experts have forecast that Northern Ireland s property market will massively outperform every other UK region in the next three months.
Tech Watch: Build on this transformation
The industry embraced technology magnificently last year, so a complete shift to ‘digital first’ is no longer a pipe dream
By Maria Harris 17
th February 2021 1:01 pm
Given everything going on in the world right now, talking about technology probably isn’t top of your list but, if 2020 taught us anything, it was that we could adapt in order to survive.
We’ve long known that the housing and mortgage market is resilient. Most of us have seen it survive M-day, a global financial crisis, the European Mortgage Credit Directive, the Mortgage Market Review, Brexit, and now a global pandemic. I’d even say some of us have thrived; and, through necessity, we’ve all adapted.
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