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I think it's a bit more than that. Stamp duty on a £300k house is like £2.5k. The same house would be selling for £340k now. You'd need to have saved another £4k (achievable in lockdown) as well an increasing your income by £8k (not so easy) to buy it today
frankenbike-
Agree it's definitely more than that, which is why the stamp holiday now seems such a mistake.
As far as I can see, covid has divided people into those whose businesses have continued quite profitably into WFH world (lots of professional and white collar jobs) and those where business has suffered or been completely furloughed.
That former camp are getting pay rises and are fed up with the same walls they've been staring at and hence there's lots of drive to move, hence big jumps all round. No idea how / if it levels out...
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I think it's a bit more than that. Stamp duty on a £300k house is like £2.5k.
We just brought a flat but due to delay, we now have to borrow extra money to pay for stamp duty.
andyfallsoff
edscoble
it's just the stamp duty holiday being added to people's budgets. Totally artificial but the estate agents pretend it's something else.