"The changes to Stamp Duty have stimulated the market in a big way, and we’ve seen it come to life in our latest results"
- Jamie Cooke - iamproperty
Homeowners are turning to Auction in a bid to secure the current Stamp Duty Land Tax rates, according to new data.
iamproperty has seen a surge of activity in recent months and it believes the looming tax changes announced in the Autumn Budget are one of the key drivers.
In the last three months, the firm reported a 17.3% rise in properties sold, with bidding activity up by a staggering one-third compared to the same period last year.
Jamie Cooke, Co-Founder at iamproperty, said these upcoming changes, alongside shifting consumer attitudes towards Auction, have seen the method’s popularity gather pace, and this is likely to continue as April 2025 gets closer.
He added: “The changes to Stamp Duty have stimulated the market in a big way, and we’ve seen it come to life in our latest results. The deadline is approaching, and completion can often take 6 months or more using Private Treaty. Auction offers a straightforward way to secure a property quickly and avoid missing out on potential savings.
"We’re also seeing growing consumer confidence in Auction as a way to buy and sell property generally. Our data shows over a third of people are open to using Auction, rising to 57% among 18-34-year-olds.
Jamie concluded: “For Estate Agents, this shift is a chance to expand their service offering by adding auctions and catering to a wider market. By offering Auction, Estate Agents can help clients to complete well before the new threshold takes effect, with a solution that offers 56-day completion times and 7-day payments^, helping them please clients and boost their profitability.”
