Latest News

PM announces COVID-19 Winter Plan

23 November 2020

Boris Johnson, today, 23 November, announced in Parliament, a COVID-19 Winter Plan which provides a roadmap out of national lockdown in England from 2 December. Read More...

Help for homeowners caught up in unsafe cladding process

23 November 2020

The External Walls Systems 1 (EWS1) form will no longer be required for owners of flats in buildings without cladding to sell, rent, or re-mortgage a property, as announced on 21 November by the UK Government in an agreement reached with the Royal Institute of Chartered Surveyors (RICS), UK Finance and the Building Societies Associations (BSA). Read More...

Homes moves guidance from the Scottish Government

20 November 2020

From today, 20 November, certain areas in Scotland have moved into Level 3 and Level 4 measures, and whilst home moves and other activities related to the property market can continue, they must be carried out safely, referring to the guidance at all times. Read More...

New Presidential team announced ready to champion members' needs

19 November 2020

Following a rigorous process, NAEA Propertymark is pleased to appoint Liana Loporto as President Elect and Stephen McCarron as Vice President. Two passionate estate agents who have a wealth of experience to share with the organisation, will join Kirsty Finney, NAEA Propertymark President, to form the new Presidential team. Read More...

The future of referral fees - your questions answered

19 November 2020

James Munro, Head of the National Trading Standards Estate and Letting Agency Team (NTSELAT), shed some light on their recent report to Government on referral fees and what the future holds in a Propertymark webinar, highlighting all agents should be following the guidance. Read More...

Industry calls for action to extend Stamp Duty Holiday

Monday 02 November 2020

NAEA Propertymark has joined forces with sector partners to write to the Chancellor, Rishi Sunak to highlight the emerging crisis in residential transactions, as sales progression and conveyancing are overwhelmed by demand in the race to complete before the end of the Stamp Duty Holiday on 31 March 2021.

The partners, who represent the home moving process: estate agency, search agents, mortgage intermediaries, conveyancing, surveying, energy assessors and removal companies, highlight the fact that average transaction times have escalated from 12 weeks to 20 weeks along with the importance of the sector to the wider economy and the potential for significant consumer detriment. Key to this message, is the need for action to be taken and an announcement to be made to reassure those involved in transactions before Christmas.

Pent up demand which followed the first ‘lockdown’ period, was bolstered by the temporary reduction of Stamp Duty Land Tax (SDLT) which ends on 31st March 2021, the same date as the Help to Buy scheme is due to end.

The letter states that a limited window is now overloading the capacity available to deal with the surge in demand for completions and failure to complete transactions by the deadline is likely to see the breakdown of chains as consumers have budgeted on the basis of the Stamp Duty holiday and cannot afford the additional cost.

The group are calling on the government to:

  1. Announce an extension of the Stamp Duty holiday of at least 6 months before Christmas in order to reduce the risk to the consumer.
  2. Work with the industry to develop a method to help smooth the end of an extended Stamp Duty holiday to prevent another cliff edge.

Quote mark

The joint letter sent to the Chancellor today is an important step in protecting those in the process of buying or selling a house that might miss out on the 31st March stamp duty deadline because of increased pressure on service providers within the industry which is causing delays for buyers and sellers in the sector. The group endorsing this letter represents the breadth of the home moving process including estate agents, search agents, mortgage intermediaries, conveyancing, surveying, energy assessors and removal companies.

The boom, caused by the stamp duty holiday, has been hugely beneficial for the housing market; however, the stamp duty cliff edge on the 31 March could cause thousands of sales to fall at the final hurdle and have a knock on and drastic effect on the housing market which has recovered well from the Covid slump. We are calling on Government to rethink these timings, so pressure on the system can be released to allow transactions to complete and avoid a disorderly and distressing period for movers and businesses throughout the market.

Mark Hayward

Mark Hayward
NAEA Propertymark Chief Executive

Propertymark Resources

Propertymark’s Housing Market Reports give a picture of the UK housing market and the issues that our members are experiencing.

A series of consumer guides on moving during COVID-19 are also available for agents to share with vendors. This is to encourage consumers to work with agents to make sure viewings and house moves are COVID-19-secure.