Stamp duty deadline: Extra cost for these Southampton homes

With just 54 days until the March 31 deadline, it is unlikely anyone who hasn’t had an offer accepted already will be able to avoid paying stamp duty tax. 

House sales are currently taking on average 126 days to complete, that’s more than four months, according to the latest statistics from Rightmove. 

Tim Bannister, director of property data at Rightmove said:

“There are still a huge number of sales agreed in 2020 that are stuck in the processing logjam and awaiting legal completion, with many hoping to beat the impending tax deadline. 

"For those who fail to do so, there may be difficulties if they have factored the tax savings into their budget calculations."

However, don’t let the end of the stamp duty tax holiday put you off moving house - make sure you know how much extra you’ll be paying and factor that into your budget when you find your dream home. 

Using a stamp duty tax calculator it is easy to find out how much extra you’ll have to pay, we’ve used one from London and Country Mortgages. 

Here’s how much stamp duty you will have to pay on these five homes under £500,000 in Southampton:

Durley Brook Road, Durley, SO32

£500,000

This stunning four-bedroom home in Durley is currently on the market for £500,000. 

If you are not a first time buyer and this wouldn't be a second home or rental property then you would have to pay an additional £15,000 in stamp duty tax.

A charming character home this large property boasts four reception rooms including a snug and study which is ideal for those of us working from home. 

The immaculate property also benefits from driveway parking, covered seating outside and an out building. 

Find out more on Zoopla.

Portchester Rise, Eastleigh, SO50

£400,000

This four-bedroom detached home in Allbrook, Eastleigh is currently for sale at £400,000. 

The outstanding family home has driveway parking and a stunning rear garden which is south facing. 

It has undergone improvements including a refitted bathroom and kitchen, making it a lovely modern space for the new buyers. 

The total stamp duty for this property is £10,000 which is payable within two weeks of the sale. 

If you're interested in this property visit Zoopla.

Avro Court, Hamble, SO31

£300,000

The guide price for this three-bedroom home in Hamble is £300,000 which means the buyer would pay an additional £5,000 in stamp duty. 

Built in 2005 the immaculate property is situated in the highly sought after area of hamble and is a short walk to the village centre and marinas. 

The property has a living room, study, kitchen and three double bedrooms - the master boasts an en-suite. 

Find out more on Zoopla. 

Banister Park, SO15

£200,000

Close to the Royal South Hants hospital and waterfront, the buyers of this two bedroom flat on the market for £200,000 would need to pay an extra £1,500 in stamp duty tax.

The property itself has two good-sized bedrooms, kitchen and separate lounge plus a family bathroom. 

Outside there is a large communal garden which is mainly laid to lawn and there is also an allocated parking space to the rear of the building. 

For more information visit Zoopla.

Shirley Road, Southampton SO15

£150,000

If you buy a property for £150,000 like this two-bedroom flat on Shirley Road then the stamp duty tax would cost you £500. 

This first floor apartment is offered to the market with no onward chain on a leasehold basis. 

The property benefits from two good-sized bedrooms, an open plan lounge and kitchenette as well as a juliet balcony. 

Find out more on Zoopla.