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TODAY'S OTHER NEWS

Stamp duty holiday producing more house moves says agency

The share of owners putting their homes on the market within five years of buying is rising again according to an analysis by Hamptons International.

The agency, which used data from across the Countrywide group for its analysis, has told the Financial Times that one in five homes coming on the market in July 2019 had been purchased within the previous five years.

By July 2020, however, that proportion had risen to one in four.

The suggestion by Hamptons is that owners are accelerating their moving plans in the light of lockdown and the broader aspiration to have more space, including gardens. The drive has been given greater impetus by the stamp duty holiday.

“Typically these are households selling on their first or second home and are yet to build up significant amounts of equity, and for whom stamp duty still represents a big barrier” the FT was told by Hamptons’ head of research, Aneisha Beveridge.

The trend is apparent across England and Wales, she says.

However, the analysis also suggests that these ‘early upsizers’ accelerating their plans may temper near-term house price rises across the board, as the supply of homes on the market increases.

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