A snippet from an article in Estate Agent Today:
Zoopla’s research team is anticipating the first quarter of next year will see the current boom continue as 100,000 additional sales try to complete ahead of the stamp duty deadline.
In its latest market snapshot the portal says although demand for housing has now fallen back since its late summer peak, it remains 34 per cent higher than this time last year.
“Demand levels are set to hold firm for the remainder of the year, and the monthly sales completions estimate suggests the strongest December – and run up to Christmas – for over a decade. We then anticipate a further demand spike in January 2021, as some buyers leave it late to enter the market in an attempt to beat the stamp duty deadline” says the portal.
The volume of new sales agreed is running 38 per cent higher than a year ago, adding to the pipeline of business set to complete in the first quarter of 2021. But it warns that of the new sales agreed in January, just half are likely to beat the stamp duty deadline based on evidence from previous years.
The year is expected to end with house price inflation reaching 4.0 per cent.
For the full article click here