First Time Buyers Beat Stamp Duty Holiday

There is new positivity surrounding the housing market as sales edged higher last month. It is thought that first-time buyers are rushing to beat the end of the stamp duty holiday, which falls on the 24th March, on properties worth less than £250,000.

Surveyors are thought to have become more optimistic about the market outlook over the next 12 months, with reports that the stamp duty holiday has boosted sales at the lower end of market.

The Royal Institution of Chartered Surveyors reported that around 12% of surveyors have reported rises in new sales since the beginning of the year. The same report showed that 19% of surveyors expected sales to increase which is the strongest reading since May 2010.

In January, supply remained steady with 7% more surveyors reporting increases rather than declines in properties coming on to the market. Despite being slightly down on December’s figure of 11%, this does mark the fourth consecutive month that new instructions have increased nationally.

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