Finance on The Web

House moves delayed by Government delay.
29 August, 2008

The Governments failure to to confirm the future of stamp duty is having a massive effect on people moving. A massive 83% of home movers are delaying or

postponing their moving date as a result of the recent Governments announcement that it may review Stamp duty.
Move.com said it asked its database on 11th August, just one week after it was leaked that the Chancellor was considering a move to suspend stamp duty in an effort to boost the flagging housing market, if the News had:

1)  Made no differnce to their plans
2)  Pushed back their moving date
3)  Postponed their move indefinitley

They asked over 1,500 movers and the response were:
1) 17% said that it made no difference to them
2) 20% said it had pushed back their moving date
3) 63% said they were postponing their move.

The stats from their site show that moving dates have gone from 37 days to 64 days, showing that the Governments refusal to confirm or deny the suspension is having a major impact on an already badly affected market.

The director of Moveme.com,Charles Wasdell said:

"It is plain to see the devastating effect the Government is having on the housing market, as it keeps tight lipped about the possibility of a stamp duty holiday. The Chancellor must either press ahead with the legislation immediately or confirm that there will be no stamp duty holiday, so the people who are buying property move ahead with their purchase.”