3 November 2021
Understandably, after the end of the stamp duty holiday in September, many were wondering what the repercussions for the housing market might be in October. Would we see a notable drop-off in transactions similar to that which was evident in July?
As I write, we don’t have the actual transaction numbers but it wouldn’t be a great shock to see the numbers for October slightly down on September, however I don’t anticipate there having been anywhere near the same drop-off as earlier in the year when the full holiday ended.
Indeed, from our perspective, October turned out to be a very decent month, and you might argue that there was something of a traditional summer lull which we have already rebounded from.
Certainly we would anticipate the market is on course to hit the 1.4/1.5m mark in terms of annual transactions, which would be a considerable uptick on recent years.
The big question here however remains the supply of property coming to market – both new-build and ‘second-hand’. I spoke to Rightmove recently and they were of the opinion that daily stock levels coming onto the platform were holding up well – they had not slipped any further since the end of the holiday.