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UK NEWS

Stamp duty change has boosted the UK’s interest in moving home

Mar 05, 2015
reallymoving.com has reported an increase in interest in moving house throughout the UK of up 20% as a result of the recent stamp duty cut.

The figures have been compiled from activity data on its price comparison site – www.reallymoving.com.

Comparing the number of registrations in the seven days immediately before and after the Chancellor's Autumn Budget Statement where stamp duty rates were cut, all numbers were significantly above expectations: conveyancing enquiries were 21% up, surveys up 6% and removals up 14%.  This despite there being a historical slow down in registrations at this time of year of around 20% week-on-week. This year the company saw no seasonal drop and all the evidence points to the stamp duty changes being the cause.

Director Rob Houghton commented: “The stamp duty cut has clearly gone down well with potential home movers, keeping the market unusually buoyant at this time of year. We believe this is encouraging for the housing market in 2015, and in turn we hope it will help boost the economy as a whole.”

The statistics were based on the analysis of the 1 million home movers who have used reallymoving.com's Movers' Quote Engine over the past 8 years.

 

Photo: Rob Houghton


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