Home Property Property investors to take advantage of stamp duty holiday

Property investors to take advantage of stamp duty holiday

by LLP Staff Reporter
25th Aug 20 2:29 pm

24% of investors are planning on buying one or more properties 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 of whom have investments and savings in excess of £10,000, excluding the value of their residential property and workplace pensions.

It found that 24% are planning on buying one or more properties to take advantage of the stamp duty holiday, which is in place until 31 March 2021. This figure rises to 43% for those aged between 18 and 34-years old.

When it comes to real estate, investors feel more needs to be done to support homebuyers and property investors beyond the current measures that are in place. 42% say the government needs to offer additional support to homebuyers and property investors beyond the stamp duty holiday. Over half (54%) of investors said they are in favour of extending the mortgage payment holiday relief scheme beyond 31st October 2020.

FJP Investment’s 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.

“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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