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UK: Home sales surged by nearly 50%

Christian Fernsby |
The number of home sales recorded in February surged by nearly 50% compared with a year earlier, HM Revenue and Customs (HMRC) figures indicate.

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Some 147,050 transactions took place in February 2021, marking a 48.5% increase compared with 99,000 transactions recorded in February 2020, the provisional figures showed.

The February 2021 total was also a 23% month-on-month increase.

A stamp duty holiday, which applies in England and Northern Ireland, had been due to end on March 31, but in the March 3 Budget the holiday was extended in its current form, with the “nil rate” threshold at £500,000, until June 30.

There will then be a “tapered” holiday until September 30, when the “nil rate” band will reduce to £250,000. From October 1, it will revert to the normal level of £125,000.

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