According to the latest Residential Market survey by the Royal Institution of Chartered Surveyors, published on Thursday 8 July, the housing market suffered a third consecutive fall in new homes coming onto the market.
This fall in available homes for sale coincides with the tapering off of the Stamp Duty holiday. Many experts expected the end of the stamp duty to bring about a reversal of house price increases. However, the lack of available properties is keeping prices high – especially in Wales, Yorkshire & Humber, and Northern Island where significant increases in house prices have occurred.
Respondents to the RICS survey anticipated that prices will continue to increase over the next twelve months.
Stamp Duty Land Tax Announcement – 8th July 2020
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