calls for break during coronavirus rise amid loss of 520,000 UK property sales in 2020

Voices from across the property industry are calling for a stamp duty holiday to resurrect a market left at death’s door by the coronavirus outbreak. He said: “Owners need to be encouraged to move by reducing the costs of moving, and prospective buyers encouraged to buy by reducing the costs of funding their purchase.” The Royal Institution of Chartered Surveyors also reported almost universal pessimism from members looking at the next three months, with a majority gloomy about the outlook for the coming year. However, Knight Frank warned that the Government stands to lose £4.4 billion in stamp duty receipts as a result of Covid-19 putting a stop to home sales. The estate agent is calling for a stamp duty holiday as part of a package of measures, which could include an extension of the Help to Buy scheme and staggering of section 106 requirements to ease cash flow for builders.