Persimmon’s stamp on the housing market

A study has found that 65 per cent of new buyers are still paying stamp duty which is costing them on average £1,731 and forcing them to over extend on their mortgages.

In response to this, Persimmon Homes North West is encouraging all would-be purchasers across the region to consider buying new and in particular, to take advantage of its stamp duty paid incentive, which is being offered across all of its properties.

Steve Armitage, sales director for Persimmon Homes North West said, “The percentage of property purchasers paying stamp duty is at its highest level yet and could continue to rise, which would result in peoples financial outlay spiralling out of control.

“We acknowledge that buying a home is one of the biggest financial commitments and that’s why we’re responding to the market by offering an incentive that is sure to be welcomed by our customers and the region as a whole.”

Today, the average price of a home stands at £173,134 with the threshold for stamp duty being £125,000. For those wanting a family home, paying over the £125,000 mark is a necessity and with it comes the penalties of stamp duty.

Steve adds: “Some of our homes, especially our executive four bedroom detached house types, fall over the stamp duty threshold of the £120,000 price mark and because of this we look for ways in which we can make the home buying process easier on the purse strings.

“Buying new needn’t cost as much as it is to purchase a second hand property, in this difficult economic period we understand that inflation is playing an important role in shaping peoples purchasing decisions and our experienced sales advisers can offer help and advice on how to maximise budgets without having to foot the costly stamp duty bill.”

For further information on Persimmon’s stamp duty incentives visit Persimmonhomes.com.