Our Chief Commercial Officer, Paul Stockwell, comments on HMRC property transactions data for October 2020

“The pent-up energy buyers have brought to the housing market since the end of the first national lockdown hasn’t abated and transaction volumes continue to climb.

“Deal levels have recovered from the April slump and are now higher than last year’s figures and, with data from the Bank of England showing mortgage approvals in September represented the highest levels of agreed borrowing since before the Global Financial Crisis, this trend looks likely to continue over the coming months.

“However, with the stamp duty discount deadline looming in March, sellers and buyers alike will feel the pressure to get the deal over-the-line as soon as possible, heaping pressure on the property industry as we close out the year.”