Saturday, May 28, 2022
Real EstateUK

Investors plan to take advantage of stamp duty holiday

stamp duty

Research from FJP Investment shows that 24% of investors are planning to take advantage of the stamp duty holiday, with the proportion rising to 43% among those aged between 18 and 34

A quarter (24%) of investors in the UK are planning to take advantage of the stamp duty holiday, according to research from FJP Investment.

The investment firm commissioned an independent survey of more than 900 UK-based investors, all with investments and savings in excess of £10,000, excluding the value of their residential property and workplace pensions.

The proportion planning to take advantage of the stamp duty savings rose to 43% among those aged between 18 and 34.

Investors said more needs to be done to support homebuyers and property investors beyond the current measures that are in place; 42% said the government needs to offer additional support to homebuyers and property investors beyond the stamp duty holiday.

More than half (54%) said they are in favour of extending the mortgage payment holiday relief scheme beyond 31 October 2020.

The survey also revealed 54% of investors have lost confidence in Boris Johnson’s government based on its handling of the COVID-19 pandemic so far.

For those based in London, this figure jumps to 62%.

Jamie Johnson, CEO of FJP Investment, said: Today’s research shows that investors are clearly worried about the long-term financial consequences of the pandemic. They believe greater support is needed, which is why they want to see the government build on the policies it has already introduced. This is particularly true when it comes to the property sector.

As shown from the findings, investors are in favour of policies that allow them better access to new real estate investment opportunities, be it extending the stamp duty holiday, or introducing additional financial relief, Johnson said.

He said, the pressure is very much on the Prime Minister and Chancellor Rishi Sunak to allay these concerns. Boosting investors’ confidence will be vital in order to inject life back into different financial markets and bolster GDP.


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