Latest News

Land Transaction Tax (LTT) nil rate band extended

04 March 2021

On 3 March 2021, the Welsh Government announced that the temporary increase to the nil rate band of LTT for residential property transactions will be extended to 30 June 2021. Read More...

Campaign leads to extended Stamp Duty holiday

03 March 2021

The Chancellor has listened to Propertymark’s calls to avoid a cliff-edge deadline to the Stamp Duty Land Tax holiday in the UK Government’s budget, today, 3 March 2021. The nil rate band up to £500,000 will end on 30 June, instead of March. A transitional nil rate band up to £250,000 will be in place until the end of September and then return to £125,000 from October, with first-time buyers continuing not to pay stamp duty on properties up to £300,000. Read More...

Estate agents lose over £4,000 for every property sale that falls through

25 February 2021

Research carried out by Propertymark over the last year found an average of 17 property sales fell through, with 42 per cent of respondents saying failed sales are a significant problem for businesses. Read More...

Property sector exemption within lockdown Regulations

Wednesday 04 November 2020

The Public Health Regulations which will underpin the second national lockdown in England, have been laid and will be voted on in Parliament today.

Subject to approval, the Health Protection (Coronavirus, Restrictions) (England) (No. 4) Regulations 2020 specifically states that activities relating to the sector are allowed to continue under Exceptions to leaving home:

to undertake any of the following activities in connection with the purchase, sale, letting or rental of a residential property —

(i) visiting estate or letting agents, developer sales offices or show homes;

(ii) viewing residential properties to look for a property to buy or to rent;

(iii) preparing a residential property to move in;

(iv) moving house;

(v) visiting a residential property to undertake any activities required for the rental or sale of that property;

Quote mark

Following the laying of regulations for national lockdown measures in England we are very pleased that the hard work of our members and the importance of the property sector has been recognised with exceptions in the rules for home moves as well as visits to branches and allowing agents to visit property to undertake any required activities. This is of course, subject to approval by Parliament. However, at this stage all the indications are that buying, selling and renting a home will continue and must be done in a COVID secure way and in accordance with the guidance.

Timothy Douglas

Timothy Douglas
Policy and Campaigns Manager

What Propertymark is doing

Propertymark is pleased that the importance of the sector has been recognised within arrangements for the coming period. We know that the sector needs clarity in order to support staff and clients and will keep the industry updated throughout the coming days and weeks.