Property boom to continue until the end of the year!
After an 81% sales surge, the property boom is expected to last until the end of the year!
It's predicted that the ongoing sales boom in the UK will endure past the end of the stamp duty holiday at the end of September and keep going throughout the year.
This follows a bumper first four months for the one of the UK's largest franchised sales and lettings companies.
"We have not seen activity in the residential property market at this level since early 2007," says CEO Dorian Gonsalves"
"Even after a busy start to the year for completions, pipelines of agreed house sales are still almost double those of this time last year."
Income from franchisee's sales activities rose by staggering 81% on the same period in 2020 while lettings increased by a more modest 12%.
It is expected that the current boom to continue at least until the end of June at which point the stamp duty discount is reduced by 50% and 'probably' through to the end of September when it ceases entirely.
In such unusual times, it is difficult to predict what might happen thereafter, but it is quite possible that the pent-up demand will not all be met in that timescale, and the tapered approach to the tax break will avoid a cliff-edge, such that the property market remains busy for most of the year.