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Property Market Surge Following Autumn Budget 2024

14th November 2024

 by Adam

Renewed Seller Confidence and Market Outlook

At Pomp Properties, we’ve observed a strong reaction in the housing market following the recent Autumn Budget 2024. The Budget, introduced by Chancellor Rachel Reeves, has led to an increase in both property sales and listings, underscoring how economic policies shape market activity.

Increased Sales and Stamp Duty Adjustments

The Autumn Budget included an increase in Stamp Duty for additional properties, from 3% to 5%. This prompted many buyers and investors to complete transactions before the end of October, resulting in a surge in property sales as buyers looked to finalise deals before the new rates took effect.

In October, there was a temporary reduction in new listings, as some sellers awaited the Budget’s details. However, the market has since rebounded, with a fresh wave of properties entering the market, reflecting renewed confidence among sellers.

Listings Rebound and Market Outlook

With the Budget now in place, more sellers are entering the market, leading to a strong recovery in listings. This reflects an overall optimism in the housing sector, as buyers and sellers adjust to the updated economic landscape.

As always, Pomp Properties is here to keep you informed and provide expert guidance in navigating this dynamic market. For tailored insights or assistance with your property needs, please don’t hesitate to get in touch.

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