Is Harlow one of the areas where the stamp duty rush has failed to have an impact?
Business / Sat 1st May 2021 at 11:00am
SINCE last July and the introduction of the stamp duty holiday, the UK property market has gone from strength to strength. And thanks to its recently announced extension, it is widely predicted that this boom will continue for the rest of the year reports Property Reporter.
While most areas are basking in the heat of this heightened market activity, not every area of the property market in England seeing this increase in transactions. In fact, for some areas, this trend has reversed.
Homebuying platform, YesHomebuyers, has analysed the latest data on sales volumes across the nation since July 2020. The research shows that at one end of the market, there have been thousands of transactions taking place, with Leeds (5,355), Birmingham (5,073) and Cornwall (4,843) home to the hottest levels of activity.
Lowest total transactions
Unfortunately, this hasn’t been the case on all fronts and the City of London ranks lowest with just 40 sales taking place. Rutland has also failed to keep pace with the rest of the market, with just 282 sales recorded since July 2020.
Other areas still stuttering from a property market standpoint include Oadby and Wigston (340), Richmondshire (344), Boston (391), Melton (407), North Warwickshire (426), Eden (439), Corby (481), West Devon (482), Adur (484), Slough (484), Harlow (489), Stevenage (489) and Crawley (512).
But it isn’t just the total volume of sales that has highlighted many of the nation’s struggling markets. Yes Homebuyers also looked at where had seen the largest decline in transactions based on the same time period as the previous year.
The full article can be read below.