First time buyers stamp duty bonus and what they can get in Sheffield
First time buyers have no stamp duty to pay on properties up to the value of £300,000 – so what can they get for their money?
It was well publicised that the stamp duty holiday for properties purchased up to £500,000 had ended on July 1, but the bonus for first time buyers slipped under the radar.
So we teamed up with Purplebricks, the UK’s leading tech-led estate agency, to find Sheffield properties under £300,000 and provided tips from its property experts in the city to ensure first time buyers bag their dream home.
First is a two bedroom apartment in Kelham Square, Kelham Island, for sale at £200,000.
Ivan Fewtrell, Local Property Expert for Purplebricks said; "Kelham Island was recently voted as one of the top ten hippest places to live and is currently one of the most popular areas in Sheffield.
"Properties here generally sell within two weeks and price rises are outpacing the market average so this property, priced under £300,000, is a great opportunity for a first time buyer to get onto the property ladder.
"This home is walking distance to the city’s trendiest bars, restaurants and cafes and has plenty of space with two bedrooms, two bathrooms and a balcony.
Second is a two bedroom semi-detached house in Hastings Grange, Millhouses, for sale at £275,000.
Luke Williams, Local Property Expert for Purplebricks said; “This property is great for first time buyers as it offers them a foot in the door to a very affluent area.
"This could be used as a stepping stone to a larger property in the area. The postcode always holds and increases in value, and has many great local amenities, including Archer Road retail park, Millhouses Park, Dore train station, and it’s easily commutable to Sheffield city centre.
"My advice for first time buyers would be to broaden your search in this competitive market, as you may be able to get a lot more for your money on the fringe of a very popular area. Also have everything in place - mortgage, solicitors and a good size deposit. This means you are ready to act straight away.”
Third is a three bedroom terraced house on Rosedale Road, off Ecclesall Road, for sale at £230,000.
Luke Williams said; “This is a fantastic area for young professionals and first time buyers. You are within a 30-second walk of Ecclesall Road's shops, cafes, pubs and bars, and near to the universities, hospitals and Sheffield city centre.
"This is another area which is great at increasing in value. Generally, most properties are selling around five to ten per cent above asking price, so I would advise first time buyers to focus on searching for properties five to ten percent below their top budget. This way they can be competitive if the property is taken to best and final offers.”
Other properties for sale include a two bedroom ground floor flat in Victoria Court, Brincliffe, at £300,000, a four bedroom detached house in Marbeck Close, Dinnington, at £270,000 and a three bedroom end of terrace house on Windy House Lane, Manor, at £140,000.