The number of registered buyers have grown in December according to the National Association of Estate Agents (NAEA) Housing Market Report. Stamp Duty reforms seem to be a key factor behind the surge in the number of property enquiries which is at a 10-year high.
Property sales, especially within the £250,001 and £925,000, have seen a significant increase. 19 per cent of estate agents have seen an increase in sales for property in the £250,001 – £925,000 range and 11 per cent of estate agents have seen an increase in sales for properties valued up to £250,000.
The Stamp Duty reforms that were announced by George Osborne in the Autumn Statement seem to be good news for people buying property valued at below £937,000 as the majority of those home buyers are set to enjoy a decreasing Stamp Duty bill. A reduction in something as costly as Stamp Duty is a good thing as the cost of moving house has been steadily increasing over the years.