Should You Sell Your House Now to Beat Stamp Duty Changes?

If you’re considering selling your home, the upcoming changes to stamp duty might have you wondering whether to act quickly or wait. With the nil rate threshold set to drop from £250,000 to £125,000 on 31 March 2025, and additional adjustments to first-time buyer allowances, many sellers are asking:

Should I sell my house now to avoid these changes?

Here’s our take: don’t rush.

Why Rushing Might Not Be Worth It

While the stamp duty changes will mean higher costs for most buyers, it’s unlikely that listing your home now will get the sale over the line before the changes take effect. Here’s why:

Timing is Tight: The period between now and Christmas is typically quiet for the property market, and January tends to start slowly as well. Even if you price your home competitively and secure a buyer quickly, completing the sale before the 31 March 2025 deadline will be challenging.

First-Time Buyer Impact: The nil rate threshold for first-time buyers will drop from £425,000 to £300,000. However, for most first-time buyers in Leeds, this change is unlikely to have a significant impact, as it doesn’t align with the average house price in the area.

The Additional Cost: The changes will introduce a 2% banding from £125,000 to £250,000, meaning most sellers will face an additional £2,500 cost. While unwelcome, this is not likely to deter most serious buyers.

Why Planning for 2025 is the Better Option

Rather than rushing, now is the perfect time to start planning for a 2025 sale. Taking your time allows you to:•

Prepare Your Property: Ensure your home is presented at its absolute best to attract buyers and maximise its value.

Set a Competitive Price: Pricing your home realistically is key to a successful sale, even in a cautious market.

Plan the Perfect Launch: Work with a local agent to identify the best time to list your property, ensuring it gets maximum exposure and interest.

What Should You Do Next?

By starting your planning now, you can ensure your property is well-prepared, priced competitively, and launched at the right time to achieve the best outcome.

The best step you can take now is to get a professional valuation and start discussing your options. At Propertynest, we’ll help you plan your timeline, offer tips to maximise your property’s potential, and ensure your sale is set up for success.

Call Paul today for a valuation and a chat to plan your 2025 sale. Together, we’ll find the perfect time to list your property for the best results.