Research by estate and lettings agent, Barrows and Forrester, has revealed that the shine is starting to come off the stamp duty holiday for disgruntled homebuyers who are experiencing long delays and higher house prices as a result of the initiative.
85% of those asked said that the current market bottleneck caused by stamp duty holiday demand has caused their purchase to be delayed.
A further 81% believe that their current sale is likely to miss both the initial extended deadline at the end of this month, as well as the secondary deadline due to expire at the end of September.
In addition to lengthy delays, current homebuyers are also facing a far higher cost as a result of the stamp duty holiday. Since the introduction of the stamp duty holiday, house prices across England alone have climbed by 10.2% meaning the average homebuyer is now paying over £25,000 as a result.
Previous research by Barrows and Forrester found that based on the current average monthly rate of growth, this could climb further still, hitting £291,667 in