Skip to main content

Final leg of Stamp Duty holiday sees record sales

Date: 21 October 2021

21 October 2021

If you are covering the latest UK monthly property transactions data, please see the below comment from Karen Noye, mortgage expert at Quilter:

“The final leg of the Stamp Duty holiday, where buyers paid no stamp duty on the first £250,000 of a purchase price, saw the highest September property transactions figure on record. A huge 165,720 residential transactions took place throughout the month, up 67.5% on August’s figures.

“Considering the saving available to home buyers was a maximum of £2,500, it is somewhat surprising that so many rushed to buy while house prices remain so inflated. Yesterday’s house price data for August showed a continued price rise, and we are likely to see the same appear in next month’s data as a result of the demand seen in September.

“As Covid-19 cases are beginning to rise and the prospect of restrictions being reinstated increases, the number of people willing to move home may well start to drop as we head into winter. With the Stamp Duty holiday now officially drawn to a close, time will tell whether the property market will return to some semblance of normal.”

Megan Crookes

External Communications Executive