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Stamp duty ends

Published by: Yvonne Astley

What is going to happen to the housing market? Is the question that is on everyone’s lips! It has been an interesting few months with bun fights for certain houses and a mad dash to the finish line with every solicitor and conveyancer unreachable over the last few weeks as they have been bogged down in trying to get the completions over the line. So now we are taking a breath and wondering how will it pan out over the next few weeks, months, and years? I certainly think the stamp duty holiday has skewed the results, because in some instances it became a false economy where it galvanised the market artificially and with lack of supply and Brexit pent up demand, the prices were squeezed to a whopping 29% increase in places (source Frank Knight). Now that this is ended, the market will even out where I strongly believe supply will catch up with demand, which is critical to get some stability. There is plenty of life left in the market yet.