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House sales 'outstanding' as people make the most of stamp duty break

Since the Stamp Duty Holiday began on July 8, Sharman Quinney has experienced an increase in buyer demand and vendor revenue.
sharman quinney
Sharman Quinney has noticed an increase in sales (photo: Google Maps)

The Peterborough-based estate agents compared sales revenue from July 8 to September 18 2019 and the same period in 2020 and found that not only was there a 62% increase in capital for vendors, but also 212 more properties sold this year than last year. 

Three bedroom houses have been the most popular property across the board. 

Sharman Quinney remains one of the largest real estate groups in the Cambridgeshire, Northamptonshire and Lincolnshire, selling homes for all kinds of buyers and prices. 

Mike Sharman, Sharman Quinney managing director, said: "Whilst trading was expected to return to a certain degree following lockdown, the level of activity and the results remain outstanding throughout the Sharman Quinney Group network.

"The Residential Sales Market is basking in the stamp duty holiday. Fuelled by record levels of new buyers entering the market, we are experiencing an underestimated yet unique time in the UK Property Market."

If you purchase a residential property between July 8 2020 to March 31 2021, you only start to pay stamp duty on the amount that you pay for the property above £500,000. These rates apply whether you are buying your first home or have owned property before.