House prices set for ‘summer bounce’
House prices are in line for a summer bounce following the extension of the stamp duty holiday announced by the Chancellor in his March Budget, according to analysis from home-moving services firm reallymoving. The reallymoving House Price Forecast March 2021 suggests that prices were heading downwards before the extension of property tax relief was confirmed. The firm said conveyancing quote volumes began to accelerate around March 3 - the day of the Budget - and were 51% above normal levels by mid-March and over 100% higher than normal levels by the start of April. With a 2.8% increase in the average value of deals being agreed, reallymoving expects this to be reflected in Land Registry Price Paid data in June.