The UK’s stamp duty holiday greatly encouraged mortgage uptake among house hunters eager to enter the property market.
This is the suggestion of new figures from the National Association of Estate Agents (NAEA), which found people looked to snap up houses prior to the ending of the break.
According to the study, sales made at member branches of the NAEA escalated to their highest levels for more than three months in February, with a typical outlet recording seven such transactions during the four-week period.
This average was up on the six recorded for January and represented the most sizeable level since October 2011.
Wendy Evans-Scott, president of the organisation – which was founded in 1962 – stated: “These latest figures show that there is demand for property, especially at the lower end of the market.”
Ms Evans-Scott pointed out increases in supply and sales could therefore be achieved if such activity is supported in the right manner.
The findings also showed first-time buyers to be among the keenest to take advantage of the stamp duty holiday, with the proportion of sales made to this group standing at 23 per cent for both January and February.
