October is going to be a really busy month for removals for Appleyard's of Hull. Typically, following the summer October can be a quieter month in the industry but not this year. Fuelled by the impending budget many home owners currently on the move seem to want to be removed before the budget takes place.
In the UK, for example, speculation around the budget often includes potential changes to stamp duty (a tax on property purchases), interest rates, or mortgage rules. If buyers expect that these changes could increase the cost of buying a house—such as higher taxes or more stringent mortgage lending criteria—they rush to complete transactions before the new measures take effect.
The potential for increased taxes on second homes or buy-to-let properties may also push investors to act quickly. Additionally, homeowners looking to sell might want to avoid any policies that could slow the housing market, such as reduced demand or tighter fiscal policies.
The general uncertainty around economic forecasts, inflation, and potential interest rate hikes also plays a role. Buyers are keen to lock in lower rates and secure favorable mortgage terms before any further tightening of the economic conditions following the budget announcement. This creates urgency for both buyers and sellers to complete transactions beforehand.