Demand increases as the stamp duty holiday ends
The end of the stamp duty holiday, which saw those who were buying
their first house costing between £125,000 and £250,000
exempt from paying the one per cent levy on the cost of their home
caused demand to rise in March.
The Royal Institute of Chartered Surveyors (RICS) has reported that
nine per cent more agents reported a rise in demand than those who
said that there had been a decline, the best figures seen at any
point in the last two years.
RICS chief economist Simon Rubinsohn, said: "Demand saw a slight
boost in March as many first time buyers looked to beat the stamp
duty holiday deadline."
It was also reported that the cost of buying for many is coming
down, with all areas of the country except London having more
agents reporting a fall in house prices than a rise. Meanwhile, two
per cent more agents said that there were now more properties
coming onto the market in March alone.