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Estate agents see jump in enquiries after stamp duty changes announced

Yui Mok/PA
Yui Mok/PA

A number of estate agent businesses have reported a high volume of calls and jump in website traffic, after would-be buyers heard about a new stamp duty holiday.

Chancellor Rishi Sunak yesterday announced a suspension of stamp duty on property sales of up to £500,000 until March 2021.

The move is aimed at boosting the housing market following a turbulent period, with people urged to avoid moving where possible at the start of the lockdown. Estate agent offices and show homes were allowed to reopen in May.

Property website Rightmove said it had 8.5 million visits to its website yesterday- a daily record.

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Ahmet Hussein, sales manager at estate agency Winkworth’s Palmers Green branch said: "We have been incredibly busy, with lots of calls following the stamp duty announcement, from vendors and buyers. This month is definitely going to be our busiest time so far this year thanks to the changes."

Harry Buchanan, a director of Jackson-Stops’ Pimlico, Westminster and Victoria office, said: “We’ve already seen a jump in enquiries from buyers as they consider the savings they can make from the Chancellor’s temporary stamp duty reform.”

Housebuilder London Square said its sales team is gearing up for a busy July as a result of the changes, “with a surge in demand expected from first-time buyers and home movers”.

Read more

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Rishi Sunak confirms stamp duty ‘holiday’ on homes up to £500,000

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