According to the National Association of Property Buyers, these cuts could help the property market if ‘aimed at right buyers and sellers’.
More than a quarter of homeowners want to downsize in retirement but are put off by moving expenses and stamp duty.
22% say they have not been able to make the move because it is too expensive, and a further 13% blamed the cost of stamp duty in particular.
An additional 12% said they wouldn’t free up enough cash to make it worthwhile.
Homeowners looking to retire often want to live in smaller, more manageable properties. This is so they can free up extra cash for basic spending needs and luxuries.
‘Targeted’ cuts could be a useful tool in encouraging such buyers to make the move.
For more information, or if you are looking to buy/sell your home, contact us on 01924 461 236, or email enquiries@kingswellwatts.co.uk.
