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Record number of property transactions recorded in March

By z4027672030, Apr 18 2016 08:21AM

The number of property transactions hit record numbers in March, with 1,210 property transactions recorded on the 31st March; a 40% increase from the previous record in December 2015.

As many purchases as possible were trying to be completed before buy-to-let properties and second homes faced the 3% stamp duty tax increase announced in the Autumn Statement.

CEO of conveyancing service My Home Move Doug Crawford said, “It was a frenetically busy day as chains across the country included second home and buy-to-let buyers who needed to compete before Friday 1st April. It was a great moment as the market came together and pulled out all the stops on what was one of the busiest days for the industry in history.”

The National Association of Estate Agents recently reported the demand for homes reached a 12-year high in February, with 85% of estate agents reporting an increase.

House price growth is expected to continue despite the new tax, as high demand and undersupply shape the market. This increase in demand for houses also means an increase in the number of people requiring conveyancing services.

If you are someone who requires such a service, our conveyancing lawyers North Devon can assist you by offering a friendly and professional service through every step of the process. Contact us today for more information.

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