March brought house sales increase

April 30, 2021 by Brendan O'Neill

Property Market

HMRC has stated its data for March shows there was a significant rise in the number of house sales that went through during that month compared with February.

The data shows a rise of 32.2% in the number of house sales for March in comparison with the month before, with the likeliest reason for this being the drive among buyers to get transactions across the line before the original stamp duty holiday deadline. When it comes to a year-on-year comparison, the house sales total for March 2021 was double that of March 2020, which was when the first national lockdown started.

Last month saw 190,980 property sales, representing a 102.3% rise on the number for March of last year. The Intermediary Relationships Chief at the Coventry Building Society, Jonathan Stinton, told Mortgage Strategy that it was evidence that the housing market and mortgage advisors were still operating at full tilt. He then went on to add that:

“It’s clear that the extension of the stamp duty holiday has added fuel to keep the train moving in March, and it’s on track for a great April too with plenty of demand across the board.”

Richard Pike from Phoebus Software argued that the figures for last year showed that the first lockdown had an instant impact on the property sector, and that the gap between the 2020 and 2021 figures would continue throughout the year.

Advisors who have completed CeMAP training courses and are entering the market will be delighted to see evidence that it is booming.