Housing LIN signs sector letter on Stamp Duty and Older Persons Housing to the Chancellor

The Housing LIN has joined campaigners representing older people today and written to the Chancellor calling for an extension of the Stamp Duty holiday for a further six months.  We have highlighted how the cost of Stamp Duty is one reason few older people downsize, and the current holiday has helped many move to more appropriate and supported housing during the pandemic. We have come together to call for an extension of the holiday for all housing, or at least for older people moving to housing more suited to their needs, such as housing specifically built for older people, stating they would have significant positive economic and social impact, reducing health costs and freeing up the housing chain.

The Housing LIN’s Jeremy Porteus commented:

“Stamp Duty has prevented older people from downsizing and stopped young people and families from moving up the ladder. Last summer’s changes have been hugely positive and we urge the Government to act and now extend the holiday. The pandemic has brought to the fore the need for increased focus on the wellbeing of older people, while also demonstrating the unique benefits of independent retirement living. A Stamp Duty holiday extension would mean that more people can benefit from this offering.”

Other signatories include the Association of Retirement Housing Managers, Retirement Housing Group UK, Retirement Housebuilders Group within the HBF, Association of Retirement Community Operators, the Civil Servants Pensioners’ Alliance, National Association of Retired Police Officers and National Federation of Occupational Pensioners, and the Chartered Institute of Housing.