The number of housing sales agreed so far this month is up 9 per cent on last year, as pent-up demand continues to filter through, according to property website Rightmove.
More transactions were finalised than during the post-election ‘Boris Bounce’ at the start of 2020.
On the up: More transactions were finalised than during the post-election ‘Boris Bounce’ at the start of 2020
Demand has been boosted by the stamp duty holiday and families seeking bigger homes.
However, in a sign that the mini boom is waning, asking prices fell for the third month in a row. The average January figure was £317,058 – down 0.9 per cent.
Rightmove data expert Tim Bannister said the latest drop was likely down to sellers lowering prices to attract a buyer in time for the stamp duty holiday.
The tax relief for homes under £500,000 ends in April.
So with the average property deal taking 126 days to agree, most buyers will no longer benefit from it.
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