Once the stamp duty land tax deadline of 31 March 2025 passed, Residential Property solicitors in England felt a universal wave of relief.
In theory, it marked the end of ‘Mad March’, a month marked by a record number of completions.
However, in reality, the residential property market has remained resilient and shows no signs of slowing down.
At Myerson, we share an optimistic outlook for the summer months and look forward to accepting new instructions from Cheshire and beyond.
Our Residential Property Solicitors explore what's next for the Residential Property Market.
What was ‘Mad March’?
This was the final month that purchasers could benefit from the previous stamp duty land tax thresholds (which were temporarily set in September 2022).
Back then, the purpose was to reduce the upfront cost of moving home.
However, in the Autumn Budget, the Labour government announced that the following changes would come into effect from 1 April 2025:
- The nil rate threshold, which was £250,000, would return to £125,000.
- The nil rate threshold for first time buyers, which was £425,000, would return to £300,000.
- The maximum purchase price, where ‘First Time Buyer’s Relief’ could be claimed, would be £500,000 rather than £625,000.
In light of the above changes, Residential Property solicitors worked tirelessly to complete as many transactions as possible by the deadline of 31 March 2025.
What will the summer months look like?
We are expecting a flurry of activity over the summer months.
In particular, the housing market in Greater Manchester is showing great promise.
Known as an ‘economic powerhouse’ and the ‘second largest city in the UK’, we are seeing an influx of young professionals, families and investors purchasing properties in the city centre and the surrounding suburban areas.
Our observation is supported by Savills’ claim that ‘the northwest is expected to be the strongest performing region in the five years to 2029 with house prices to increase by 29.4% compared to a UK average of 23.4%.’
Whether you would like to purchase a city centre penthouse, a new-build townhouse, or a rural retreat, we can assist you.
Contact Our Residential Property Team
Whether you are a first-time buyer or an experienced investor, our Residential Property Lawyers are equipped to help you over the summer months.
Whilst many transactions typically slow down over the school holidays, our team of qualified solicitors will be on hand to maintain the momentum. As a team, we have staggered our annual leave to ensure that the legal process is as seamless as possible.
Unlike other local firms, we do not deal with ‘bulk conveyancing’, meaning that your nominated solicitor can prioritise your specified deadline.
We will work as quickly and efficiently as possible without compromising on our high-quality service.
0161 941 4000
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Laura Higgins
Associate
Laura is an Associate in our Residential Property team. Laura has experience in a wide range of residential property transactions, including freehold and leasehold sales and purchases, Transfers and Assents.
About Laura Higgins