The latest breakdown of the stamp duty holiday extension has given a first estimate of the total number of deals to benefit from the tax break.
Keller Williams UK says 576,093 deals will have enjoyed a stamp duty saving by the time the holiday finally ends - that’s 77 per cent of all the transactions, including those likely in the extra six month period announced last week.
Homebuyers in England are due to save a massive £2.8 billion overall between the start of the holiday in July last year and its completion this coming September.
Ben Taylor, chief executive of Keller Williams UK, says: “You need only look at the market data already available to see the huge benefit that the stamp duty holiday has brought, both in terms of the total money saved and the large proportion of the market that has paid no stamp duty on their purchase at all.
“Based on current market trends, this impact is set to grow substantially with the double extension of the scheme, and even at a reduced threshold of £250,000, around half of those completing will still have no stamp duty bill to pay when they do.
“This extended incentive to transact will ensure buyer demand remains healthy and house price growth remains strong over the spring and summer months.”