London benefits from recent Stamp duty cut for properties value below 500k GBP for 6 months until 31 March 2021. What does it mean? Currently the stamp duty is 0% for first 125,000, and for the first property within this period of time will be 0% for first GBP 500,000.
London has always been a special case in terms of the property market, however, and estate agent Finlay Brewer, which specialises in prime west London property, finalised seven exchanges during the lockdown period at a total of £7.4 million.
This bodes well for the coming weeks and months as restrictions begin to relax and viewings can once again take place following the latest government guidelines, especially given a flurry of activity following The Prime Minister’s speech on the first May bank holiday weekend – early signs of confidence returning to the market.