Homes ‘snapped up’ at Burgess Hill housing development following stamp duty holiday extension

A new Burgess Hill housing development received a surge of interest after the government extended the stamp duty holiday.

Wednesday, 12th May 2021, 3:20 pm

Jones Homes said all the properties in the most recent phase of Folders Grove, off Folders Lane, were ‘snapped up’ following Rishi Sunak’s announcement that the scheme would run for three more months.

The Chancellor of the Exchequer announced the extension in the March budget as part of a package of measures to support the economy.

“Since the announcement we have had a fresh wave of enquiries from house-hunters keen to buy a home before the new deadline,” said Sara Stanhope, sales and marketing director for Jones Homes Southern.

Homes in the most recent phase of Folders Grove, a new housing development in Burgess Hill, have been 'snapped up' following the government's extension of the stamp duty holiday. Picture: Jones Homes

She said the news had given a strong incentive to ‘those house-hunters who thought they had missed the boat’ and that many people saw it as their last chance to benefit from the scheme.

Jones Homes said the move will see homebuyers save up to £15,000 on the cost of moving until June 30.

A three-month transition will follow where the £500,000 tax threshold will be reduced to £250,000, before returning to £125,000 on September 30.

Before the introduction of the stamp duty holiday in July 2020, homebuyers paid no stamp duty on homes worth up to £125,000, two per cent on the value of their home priced between £125,001 and £250,000, and a further five per cent between £250,001 and £925,000.

Before the stamp duty holiday, first-time buyers were exempt from the tax on homes priced up to £300,000.

Every Folders Grove home that was available to buy before the stamp duty deadline has been sold.

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