Stuart Clarkson

10:00am - 2:00pm

Email the studio

David Bowie

Sound And Vision

Listen Live Podcasts

Homebuyers rush to beat stamp duty deadline

Monday, 20 January 2025 11:19

Patrick McCutcheon, head of residential at Dacre, Son & Hartley

Yorkshire’s largest independent estate agent, Dacre, Son & Hartley, is reporting a distinct upswing in the number of homebuyers who want to complete their purchases before stamp duty thresholds increase on 1st April 2025

The company, which has 18 offices across West and North Yorkshire, is currently selling dozens of homes to buyers who have made the end of March their target date to move home, including several who only made offers during the early weeks of January.

During October’s Budget, Chancellor Rachel Reeves announced that temporary increases to stamp duty thresholds that were put in place in 2022, would end on 31st March 2025.

Currently, homebuyers don’t pay stamp duty on properties below £250,000, but this will drop to the previous level of £125,000 at the start of April.

The threshold requiring first-time buyers to pay stamp duty will also fall from £425,000 to £300,000.

In the Budget, the Chancellor also increased the stamp duty surcharge for second homes and buy to let properties from 3% to 5% overnight.

Patrick McCutcheon, head of residential at Dacre, Son & Hartley, said:

“The next couple of months are going to be busy for anyone working in residential property including estate agents, mortgage brokers, surveyors and those in conveyancing.

“We’ve certainly seen a surge of buyers who want to complete their purchases before stamp duty costs increase and there are lots that have set the end of March as their deadline, even though a surprising number of these only made offers during January.

“However, for anyone else who wants to take advantage of the reduced stamp duty thresholds, who hasn’t yet had an offer accepted, the clock is ticking."

Dacre, Son & Hartley was founded more than 200 years ago and is Yorkshire’s largest independent estate agent with 18 offices across North and West Yorkshire.

More from Local news

Flamingo Land stabbing suspect jailed for four and a half years

A man who carried out an unprovoked stabbing at Flamingo Land has been jailed for four and a half years.
Discover how retirement is changing with Ilkley & District u3a

For many people retirement has become the perfect opportunity to learn something new, meet new friends and enjoy an active social life.
Excitement building as Ilkley Live Community Music Festival approaches

The two-day music extravaganza is back for its sixth year and is now a favourite fixture on the town’s community calendar.
Lexus Ilkley Open final wraps a week of world class tennis

After a rain delayed week, rain stayed away for the finals day at the Lexus Ilkley Open at Ilkley Lawn Tennis & Squash Club.
Street Hub to replace Grove phone box after appeal

A government inspector has reversed a decision to block a BT “street hub” from The Grove in Ilkley.
Lexus Ilkley Open delayed by poor weather

The organisers of the Lexus Ilkley Open have released a statement, regarding delays to the schedule caused by bad weather.
Former Lioness travels through Silsden and Addingham as part of Comic Relief challenge

Former Lioness, Jill Scott travelled through Silsden and Addingham yesterday.
Community singing hub celebrates 10 incredible years through music

Music Box – Inspiring Voices CIC is celebrating its 10th anniversary with a spectacular concert at King’s Hall in Ilkley.
RAF Flypast to inspire runners at the Ilkley Half Marathon

The Ilkley Half Marathon is set to receive a truly memorable salute this year, with a special flypast from the Royal Air Force’s Battle of Britain Memorial Flight (BBMF) planned as part of the event celebrations.
Get ready to book for the Summer Solstice Swim

Tickets will go on sale this evening for for the annual Ilkley Lido Summer Solstice Swim.
Outside the Box rallies at the Lexus Ilkley Open

Outside the Box has really got into the swing of the 2026 Lexus Ilkley Open tennis tournament, from designing event posters, to helping out as volunteers.
All you need to know about the Ilkley Food & Drink Festival this weekend

Organisers of the seventh Ilkley Food and Drink Festival this weekend [13/14 June] have shared the complete festival programme.
Explore with The Friends of Ilkley Moor this month

The Friends of Ilkley Moor [FOIM] have three events in June, which between them will offer attendees an understanding of habitat management and restoration, a chance to discover the birds on the moor, and also explore the highest part of the moor.
Council says 'fireworks - bang out of order'

Bradford Council is launching a campaign to crack down on the torment of fireworks.
Otley Garden Centre unveils plans for new play area

Otley Garden Centre has unveiled plans for an exciting new indoor and outdoor play area.
Ilkley councillor asks new Executive committee about financial plans

Ilkley councillor, Andrew Loy, used the first meeting of the Bradford Council's new Executive committee to ask about changes to financial plans.
Ilkley's Summer sporting events need you!

Two of Ilkley's biggest summer events are coming up, the Ilkley Cycle Races on Friday 3rd July and the Ilkley Half Marathon on Sunday 12th July, and organisers are calling on local people to help make them happen.
Five ways to support Pride in Ilkley this June

As Ilkley prepares to celebrate Pride Month, the Ilkley Pride & Diversity Group is encouraging residents, businesses, and community organisations to get involved and show their support for LGBTQ+ people across the town.
A well-known Ilkley property to go under the hammer

A rare renovation project has gone on the market in Ilkley, to be sold by auction.
Ilkley Civic Society unveil new Blue Plaque on Wells House

For many years the Ilkley Civic Society’s Blue Plaque Scheme has celebrated the history of Ilkley and of buildings that have shaped the town.