New year sees housing sales soar, says Rightmove

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Number of housing sales agreed so far this month up 9% on last year, as pent-up demand continues to filter through, according to Rightmove

By Daily Mail City & Finance Reporter

Published: | Updated:

The number of housing sales agreed so far this month is up 9 per cent on last year, as pent-up demand continues to filter through, according to property website Rightmove. 

More transactions were finalised than during the post-election ‘Boris Bounce’ at the start of 2020. 

On the up: More transactions were finalised than during the post-election ‘Boris Bounce’ at the start of 2020

Demand has been boosted by the stamp duty holiday and families seeking bigger homes. 

However, in a sign that the mini boom is waning, asking prices fell for the third month in a row. The average January figure was £317,058 – down 0.9 per cent. 

Rightmove data expert Tim Bannister said the latest drop was likely down to sellers lowering prices to attract a buyer in time for the stamp duty holiday. 

The tax relief for homes under £500,000 ends in April. 

So with the average property deal taking 126 days to agree, most buyers will no longer benefit from it.

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