Karen Noye, a mortgage expert at Quilter, said: “The sharp rise in tax bills expected due to the lowering of stamp duty thresholds has seen many buyers forge ahead with purchases that they might otherwise have held out on, and house prices could bloat as a result.
Jeremy Leaf, a north London estate agent said: “We have noticed in our offices a rush of first-time buyers in particular, trying to take advantage of lower stamp duty rates, which has skewed some parts of the market.
Iain McKenzie, chief executive of the Guild of Property Professionals, said: “A rise in the number of homes for sale has provided buyers with more choice and negotiating power, while the influx of new buyers has further driven market activity.”.
The average UK house price has increased month-on-month for the sixth month in a row, but looming stamp duty changes could dampen the market, according to an index.
Yopa chief executive Verona Frankish said: “We’ve seen the vast majority of buyers take the potential stamp duty cost increase into consideration before submitting their offers.”.
