It has been reported by various estate agents that house sales during the first half of 2025 have increased. Demand for more homes has also escalated, yet overall, house prices have not risen.
Conveyancing solicitors in North Wales have found that more people are now obliged to pay stamp duty since the ending of the tax relief scheme in April 2025, putting added pressure on the finances of potential buyers.
With the abolition of the stamp duty tax relief scheme in April this year, the overall cost of buying a house has risen by a significant amount – and almost 85% of home buyers have found themselves within the threshold of having to pay these additional costs.
Although the increase in stamp duty payees has affected all areas of the country, there are certain regions that have been impacted more. This means that buyers are prepared to negotiate with sellers for a lower house price.
This, along with the increase in the number of houses for sale at the moment, means that the market is one that is currently being driven by the buyer. Solicitors specialising in conveyancing in North Wales will still advise those looking to sell or buy a home to remain confident that the markets will remain robust.
Speak to us now at Bennett Smith Solicitors and ask us for advice about buying a house. You can book an appointment today and one of our experts will be happy to discuss this with you.
