Estate agents in London are expecting December to be the busiest month of 2020, firms have said.
Companies are experiencing a busier than normal December as scores of people rush to beat the stamp duty holiday, which finishes at the end of March 2021.
Matt Robinson, boss of Nested, said December has been the best month of the year for exchanges at the company. He said: “There has been a stampede of sellers and buyers with lots of people looking for a change of scenery after lockdown 1, and this has been exacerbated by the tailwind of the stamp duty exemption.”
Guy Gittins, managing director of Chestertons, said: “December has been unseasonably busy and has rounded off an extraordinary year. It is easily the busiest December on record [for Chestertons] and we have registered 17% more new buyers than last year, conducted 54% more property viewings and agreed 34% more sales.”
The suspension of stamp duty on property sales of up to £500,000 was announced in July. The government move was aimed at boosting the housing market after it had to effectively temporarily close at the start of the coronavirus crisis.
MORE ABOUT