Doug Crawford, CEO of My Home Move, comments on HMRC monthly property transactions (January)

“The property market is off to a flying start for the year, with the number of property sales in January up a massive 9.7% compared to last year. This year-on-year increase could be accredited to a spike in purchases by additional home buyers looking to escape the rise in stamp duty, set to be introduced in April. This may continue to provide a short-term boost for a matter of weeks. However, we are now explaining to new clients that it is too late to guarantee completion before 1st April.”

“Looking ahead, the question is whether the market will sustain this level of activity? Supply is likely to be the biggest constraint, so new house building will remain critical.”