The Northumberland coast has always been a hotspot for holiday makers with its beautiful beaches, sprawling countryside and idyllic coastal villages and having lived here most of my life I am always an advocate for this magnificent part of the country.
At the beginning of 2024, we were seeing a high number of market appraisals on holiday let properties, and buyers being able to purchase without the chaos that we saw at the end of 2023.
Unfortunately, at the end of 2024, we saw a slight drop in the number of people looking for a holiday let or second home, but thankfully this was not as drastic as we initially thought as the rise in Capital Gains Tax for this market has been left alone. However, following the budget announcement of an increase in Stamp Duty on second homes from 3% to 5%, there is further uncertainty as we head into 2025.
My advice if you’re looking to sell or purchase a second home is to make sure that you seek the right financial advice from a reliable FA, as well as the guidance of a reputable estate agent who can advise on the current market and when the best time to purchase or sell a second home is.
Having worked for Sanderson Young for over 20 years, since we opened our Alnwick office, I am still just as passionate about my job and feel privileged to work with the clients that I do and sell such special homes. Alongside Gillian Greaves, Branch Manager, and her sales team, we all continue to stay positive about the market in Northumberland and are here to support you every step of the way.
Penny Wright
Regional Valuation Manager
01665 600 170