U.K property market taking a hit as house sales fall:
The house sales in January 2022 have fallen by 10% compared to January 2021. Although, the number of transactions are 5.1% higher than that of December 2021. This is due to a temporary stamp duty holiday being put in place last year ending at the start of October 2021. This meant more transactions took place last year and those which possibly would have been in 2022 occurred, in order to make the most out of their tax savings. Furthermore, large property companies have reported that house asking prices have inclined by the biggest amount in 20 years.
Did you make the most out of the stamp duty holiday?