Looming end to stamp duty holiday inflates buyer demand
April 10, 2012 – 10:53 pm
Buyers are returning to the UK housing market in numbers not seen since beginning of the financial crisis, according to the latest monthly snapshot from Hometrack.
The property intelligence firm said the number of people registering with estate agents rose by 18.1% last month, the highest figure on record since a 23% increase in demand in February 2007. The rise is also higher than the 15% increase in potential buyers recorded in February 2009.
While interest traditionally goes up in February after a slowdown around Christmas and the New Year, Hometrack said this month’s rise in buyer interest was kept artificially high by first-time buyers looking to beat the stamp duty increase at the end of March.
A stamp duty holiday allowing first-time buyers not to pay the tax on properties in the £125,000 to £250,000 price bracket has been in effect for the past two years. The
Tags: Buyer, Buyer Demand
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